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PROPERTY INFO
FACTS
- Single Family
- Built In 2007
- Price/Sqft : $143.68
- 1 Days on Market
- MLS # : CAR3761809
- Updated Date : 07/13/2021 at 04:57
CONSTRUCTION
- Beds : 3
- Floor Size : 2,436 sqft
- Baths : 2 full
Listing Agent
Jp & Associates, Realtors Caro
Listing Agent's Description
Showings begin Friday, July 16: Amazing 1-story ranch home in coveted Highland Creek: more amenities than I have room to list! Over 2400 square feet all on one level! Step from your covered front porch into the open foyer with hardwoods that stretch from hallways to dining room, living room, family room, kitchen, breakfast nook & even the Master Bedroom! A kitchen comprised of granite counters with a raised breakfast bar to overlook both living & Family Rooms, The master suite includes dual vanities, dual closets, a vaulted ceiling, garden tub, separate shower, and enough space to create a sitting area! The front bedroom is perfect for use an an office with the bay-window to match the bay window in the breakfast nook that overlooks the private backyard! The sunroom adds a great living space that takes advantage of the natural light and the private tree-lined backyard. The over sized laundry room near the garage has extra built-in cabinet storage & a sink to double as a mud room!
SEE MORE
- Charlotte metro has 65.8% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
- Charlotte attracted more than $325 million in capital investments in 2018Q2 (Meckelenburg county, June 2018)
- Charlotte metro's economy is worth $181 billion in Gross Metro Product and projected to grow to $192 billion in 2019 (USMayors.org, 2018)
- #1 Millenial Moving destination city (Smart Asset)
- Corporate Fortune 500 headquarters: Bank of America, Lowe’s, Duke Energy, Nucor, Family Dollar Stores, Sonic Automotive, Domtar
- #3 fastest-growing big city in US with more than 15,000 people added in 2017 (US Census, 2018)
PRICE & RENT TRENDS
Neighborhood: Parkway Oaks
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Parkway Oaks
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,760 |
| EXPENSES | Loan Payment | -$1,216 |
| Property Tax | -$305 | |
| Property Insurance | -$73 | |
| HOA | -$54 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$7
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.
$350,000
PROJECTED PRICE
$1,760
PROJECTED RENT
0.50%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 6.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$98,500
LOAN DETAILS
$1,216
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $87,500 |
| Loan Amount | $262,500 |
5.42
YEARS SAVED
$20,125
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$1,900
COMP ESTIMATED VALUE -
$0.78
COMP AVG. RENT PER SQFT
Comps Range
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13915 Acorn Creek Lane Charlotte, NC 1
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- Rent Per SQFT
- $0
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8925 Coppermine Lane Charlotte, NC 2
- 3 beds 3 baths ∙ 2,437 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,437 Sqft ∙ Built 1998
LEASED 11/02/20- Rent
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- $1,795
- $0.74
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5705 Whitegate Lane Charlotte, NC 3
- 4 beds 3 baths ∙ 2,267 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,267 Sqft ∙ Built 1997
LEASED 04/06/21- Rent
- Rent Per SQFT
- $1,800
- $0.79
-
6640 Hawksnest Drive Charlotte, NC 4
- 3 beds 3 baths ∙ 2,354 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,354 Sqft ∙ Built 1994
LEASED 12/21/20- Rent
- Rent Per SQFT
- $1,945
- $0.83
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8209 Laurel Run Drive Charlotte, NC 5
- 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2001
LEASED 12/09/20- Rent
- Rent Per SQFT
- $2,000
- $0.76
PROPERTY LISTING DETAILS
1.704.727.2891
Jp & Associates, Realtors Caro
