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PROPERTY INFO
FACTS
- Single Family
- Built In 1980
- Price/Sqft : $205.72
- 67 Days on Market
- MLS # : 3677578
- Updated Date : 12/28/2020 at 16:52
CONSTRUCTION
- Beds : 3
- Floor Size : 1,993 sqft
- Baths : 2 full , 1 half
Listing Agent
Re/max Executive
Listing Agent's Description
This gorgeous home in Arbor Estates is truly a must see! Enjoy the serenity & feel of being in a remote mountain getaway while remaining just minutes from Southpark, the Arboretum & everything Charlotte has to offer! Hardwood floors run throughout the Foyer & Dining area. Semi-open floor plan provides seamless flow between the spacious dining room & expansive living room with vaulted ceiling & stone fireplace. Gourmet kitchen offers tile floors, tons of storage, gas cooktop, & double wall oven. Large Windows & sliders provide ample natural light & provide a constant view of the truly gorgeous wooded lot. Step through one of the sliders onto the expansive rear deck for entertaining, or pass the time relaxing in the shade & quite of the covered screened porch. This home is a nature lover's dream. Entry Level offers a large private master en suite w/ walk in closet & garden tub. Top level offers 2 additional bedrooms & full bath. 2 car garage with over 400 sq ft of walk-up storage space!
SEE MORE
- 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: Olde Providence North
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Olde Providence North
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,950 |
| EXPENSES | Loan Payment | -$1,513 |
| Property Tax | -$357 | |
| Property Insurance | -$65 | |
| HOA | -$5 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$109
|
||
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.
$410,000
PROJECTED PRICE
$1,950
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 8.7% |
| 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
$114,400
LOAN DETAILS
$1,513
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $102,500 |
| Loan Amount | $307,500 |
4.42
YEARS SAVED
$20,760
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,950
LIST RENT -
$0.98
LIST RENT PER SQFT
-
$2,008
COMP ESTIMATED VALUE -
$1.01
COMP AVG. RENT PER SQFT
Comps Range
-
1419 Jules Court Charlotte, NC 2
- 3 beds 3 baths ∙ 1,993 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,993 Sqft ∙ Built 1980
- Rent
- Rent Per SQFT
- $1,950
- $0.98
-
6150 Garamond Court Charlotte, NC 1
- 4 beds 3 baths ∙ 2,116 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,116 Sqft ∙ Built 1996
LEASED 08/19/20- Rent
- Rent Per SQFT
- $1,925
- $0.91
-
1124 Turnbridge Road Charlotte, NC 3
- 4 beds 3 baths ∙ 2,077 Sqft ∙ Built 1966 4 beds 3 baths ∙ 2,077 Sqft ∙ Built 1966
LEASED 04/01/20- Rent
- Rent Per SQFT
- $2,095
- $1.01
-
6106 Garamond Court Charlotte, NC 4
- 4 beds 3 baths ∙ 1,945 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,945 Sqft ∙ Built 1994
LEASED 03/12/20- Rent
- Rent Per SQFT
- $2,095
- $1.08
-
6622 Old Providence Road Charlotte, NC 5
- 4 beds 3 baths ∙ 2,089 Sqft ∙ Built 1964 4 beds 3 baths ∙ 2,089 Sqft ∙ Built 1964
LEASED 04/07/20- Rent
- Rent Per SQFT
- $2,160
- $1.03
PROPERTY LISTING DETAILS
1.704.975.4713
Re/max Executive
