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14031 Ballyshannon Lane Charlotte, NC 28278

3 Beds 3 Baths 1,815 sqft Built 2000

$324,900

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $179.01
  • 2 Days on Market
  • MLS # : 3701432
  • Updated Date : 01/23/2021 at 14:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,815 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jrbg Realty Llc

Listing Agent's Description

HURRY POOL HOME IN THE HEART OF STEELE CREEK! This 3 Bed (Master Down) and 2.5 Bath with upstairs Bonus/Loft area is sure to check many boxes making it the perfect starter home. Main features include; FENCED YARD, HVAC system 2 years old, Roof less than 5 years, EXCELLENT SIZE SHED, Oversized patio, Water Heater recently changed, OPEN FLOOR PLAN, ENJOY Your morning cup of coffee in your SUNROOM or just to sit and and relax after a long day. Laminate flooring throughout first floor and stairs (secondary bedrooms upstairs are carpet). Two Car Garage with Extended Driveway, perfect fit for when family comes to visit. Well-equipped kitchen that features elegant countertops, efficient cabinetry including pantry. THIS BRIGHT AND WELL MAINTAINED HOME IS A GREAT CHOICE FOR THE ONES WHO LOVE TO ENTERTAIN GUESTS AND LOVE TO SPEND FAMILY TIME. Location is convenient for shopping, medical, schools, parks, and dining.

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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: 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
 

$292,410$357,390$324,900

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,129
Property Tax -$283
Property Insurance -$61
HOA -$17
Property Management Fees -$119
CASH FLOW
$11

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.

$324,900

PROJECTED PRICE

$1,620

PROJECTED RENT

0.50%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,849

INVESTMENT

$91,849

Down Payment
$81,225
Rehab Estimate
$5,750
Closing Costs
$4,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,225
Loan Amount $243,675
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$20,769

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,629

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,5353$1,5504$1,6205$1,775
$1,775
RENT COMPS ANALYSIS
  • 14031 Ballyshannon Lane Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,815 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,815 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.89
    •  
  • 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
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.82
    •  
  • 14337 Fokker Place Charlotte, NC 2
    • 4 beds 3 baths ∙ 1,666 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,666 Sqft ∙ Built 2002
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,535
    • $0.92
    •  
  • 15736 Lakepoint Forest Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 2007
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.95
    •  
  • 14023 Hatton Cross Drive Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,962 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,962 Sqft ∙ Built 1998
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.90
    •  
PROPERTY LISTING DETAILS
Johnny Bhagrattee Guerrero
1.704.968.0315
Jrbg Realty Llc
BESbswy