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1419 Jules Court Charlotte, NC 28226

3 Beds 3 Baths 1,993 sqft Built 1980

$410,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

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!

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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: Olde Providence North

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k488k

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

Neighborhood: Olde Providence North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200Rent in $8442340

* 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
Sharon Elementary School Primary Regular 809 44 8
Carmel Middle School Middle Regular 1,050 58 7
Myers Park High School High Regular 2,762 145 8

Sharon Elementary School

  • Education Level: Primary
  • # of students: 809
  • # of teachers: 44
8
GreatSchools Rating

Carmel Middle School

  • Education Level: Middle
  • # of students: 1,050
  • # of teachers: 58
7
GreatSchools Rating

Myers Park High School

  • Education Level: High
  • # of students: 2,762
  • # of teachers: 145
8
GreatSchools Rating
 

$369,000$451,000$410,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

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
$1,925
1$1,9252$1,9503$2,0954$2,0955$2,160
$2,160
RENT COMPS ANALYSIS
  • 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
Milas Dyer
1.704.975.4713
Re/max Executive
BESbswy