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13920 Highland Meadow Road Charlotte, NC 28273

5 Beds 4 Baths 3,212 sqft Built 2007

$389,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $121.11
  • 4 Days on Market
  • MLS # : 3714826
  • Updated Date : 03/04/2021 at 14:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,212 sqft
  • Baths : 3 full , 1 half
Listing Agent

Sell Your Home Services Llc

Listing Agent's Description

Beautiful established neighborhood close to I77, shopping and restaurants, 20 minutes to airport and uptown Charlotte. Two minute walk to the Community pool. Modern upgrades... warm neutral color paint, new wood flooring in the foyer, half bath, dining, and kitchen. Newer carpet in the remaining downstairs rooms with upgraded padding. Gas log fireplace in the family room that's open to the kitchen and breakfast area, perfect for entertaining with its large island and granite counter tops. Master on main with separate tub and shower. 4 additional bedrooms upstairs, and 2 additional baths with one being a Jack and Jill layout. Upstairs also has a large game room above the garage. Large backyard with nice sized patio. Backyard playset, Fridge and Nest Doorbell/thermostats to convey.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Yorkshire

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $103k318k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Yorkshire

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
River Gate Elementary School Primary Regular 828 44 7
Southwest Middle School Middle Regular 1,403 72 6
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

River Gate Elementary School

  • Education Level: Primary
  • # of students: 828
  • # of teachers: 44
7
GreatSchools Rating

Southwest Middle School

  • Education Level: Middle
  • # of students: 1,403
  • # of teachers: 72
6
GreatSchools Rating

Math, Engineering, Technology And Science At Olympic High School

  • Education Level: High
  • # of students: 607
  • # of teachers: 28
7
GreatSchools Rating
 

$350,100$427,900$389,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,351
Property Tax -$339
Property Insurance -$88
HOA -$48
Property Management Fees -$119
CASH FLOW
$205

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.

$389,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,835

INVESTMENT

$108,835

Down Payment
$97,250
Rehab Estimate
$5,750
Closing Costs
$5,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,351

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,250
Loan Amount $291,750
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$42,572

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,150

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $2,369

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2003$2,2004$2,3145$2,345
$2,345
RENT COMPS ANALYSIS
  • 13920 Highland Meadow Road Charlotte, NC 1
    • 5 beds 4 baths ∙ 3,212 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,212 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.67
    •  
  • 10936 Huntington Meadow Lane Charlotte, NC 2
    • 5 beds 3 baths ∙ 2,901 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,901 Sqft ∙ Built 2003
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.76
    •  
  • 11114 Huntington Meadow Lane Charlotte, NC 3
    • 5 beds 3 baths ∙ 3,039 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,039 Sqft ∙ Built 2005
    LEASED 02/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.72
    •  
  • 13912 Highland Meadow Road Charlotte, NC 4
    • 5 beds 4 baths ∙ 3,165 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,165 Sqft ∙ Built 2007
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,314
    • $0.73
    •  
  • 11402 Scottsman Trace Drive Charlotte, NC 5
    • 5 beds 4 baths ∙ 3,153 Sqft ∙ Built 2010 5 beds 4 baths ∙ 3,153 Sqft ∙ Built 2010
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,345
    • $0.74
    •  
PROPERTY LISTING DETAILS
Dan Demers
1.877.893.6566
Sell Your Home Services Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3714826
Last Updated: 03/04/2021
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