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13933 Ballyshannon Lane Charlotte, NC 28278

3 Beds 3 Baths 1,859 sqft Built 2000

$305,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $164.07
  • 6 Days on Market
  • MLS # : 3677809
  • Updated Date : 11/02/2020 at 11:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,859 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Charlotte two-story home offers a two-car garage. This home is vacant and cleaned regularly.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Steele Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Steele Creek

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
Palisades Park Elementary School Primary Unknown 687 36 NA
Southwest Middle School Middle Regular 1,403 72 6
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

Palisades Park Elementary School

  • Education Level: Primary
  • # of students: 687
  • # of teachers: 36
NA
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
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,125
Property Tax -$266
Property Insurance -$62
HOA -$17
Property Management Fees -$140
CASH FLOW
-$50

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.

$305,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$13,358

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,645

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,5253$1,5354$1,5605$1,695
$1,695
RENT COMPS ANALYSIS
  • 13933 Ballyshannon Lane Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,859 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,859 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.84
    •  
  • 11630 Village Pond Drive Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2006
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.82
    •  
  • 15913 Pedlar Mills Road Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,771 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,771 Sqft ∙ Built 2001
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.86
    •  
  • 14337 Fokker Place Charlotte, NC 3
    • 4 beds 3 baths ∙ 1,666 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,666 Sqft ∙ Built 2002
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,535
    • $0.92
    •  
  • 14514 Lake Crossing Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 1,875 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,875 Sqft ∙ Built 2006
    property image
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
PROPERTY LISTING DETAILS
Verria Hairston
1.704.751.0133
Opendoor Brokerage Llc
BESbswy