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14310 Northridge Drive Charlotte, NC 28269

4 Beds 3 Baths 2,397 sqft Built 2003

INVESTimate

$299,900

List Price

$1,640

$1,476 - $1,804

Rent Est.

$319,124  ( +6.41%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2003
  • Price/Sqft : $125.11
  • 10 Days on Market
  • MLS # : 3652510
  • Updated Date : 08/22/2020 at 07:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,397 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jp & Associates, Realtors Carolina Living

Listing Agent's Description

Hurry Hurry! Priced to Sell Fast!! 2 Story Home Under $300k in the Well Desired Highland Creek Community. Golf Course, Clubhouse Amenities and Pools for you to enjoy. Walking Trails and Dog Park. Close to Shopping at Concord Mills and plenty of Restaurants. A neighborhood you will love. Seller will provide 1 year Home Warranty to Buyer. This Well Kept Move-In Ready home has been professionally cleaned. It has hardwood floors and carpet. A New HVAC unit installed in 2019, New Roof to be installed prior to Closing. Spacious Master Bedroom with Sitting Room with dual Vanity in the Master Bathroom, Garden Tub and Separate Shower. Spacious bedrooms and Bonus Room. Kitchen has a nice size island and walk in pantry. A built-in desk in the kitchen can be used for the kids. Home is being Sold "AS-IS" Sellers will make No Repairs and No Concessions, Sold AS-IS.

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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: North Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: North Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441876

* 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
Highland Creek Elementary School Primary Regular 1,105 57 7
Ridge Road Middle School Middle Regular 1,285 65 6
Mallard Creek High School High Regular 2,472 123 6

Highland Creek Elementary School

  • Education Level: Primary
  • # of students: 1,105
  • # of teachers: 57
7
GreatSchools Rating

Ridge Road Middle School

  • Education Level: Middle
  • # of students: 1,285
  • # of teachers: 65
6
GreatSchools Rating

Mallard Creek High School

  • Education Level: High
  • # of students: 2,472
  • # of teachers: 123
6
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,107
Property Tax -$282
Property Insurance -$68
HOA -$59
Property Management Fees -$148
CASH FLOW
-$23

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.

$299,900

PROJECTED PRICE

$1,640

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.41%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$14,335

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,629

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6403$1,6504$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 14310 Northridge Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,187 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,187 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.75
    •  
  • 8615 Laurel Run Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,122 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,122 Sqft ∙ Built 2000
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.75
    •  
  • 6018 Leawood Run Court Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 2001
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.71
    •  
  • 10434 Haddington Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,228 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,228 Sqft ∙ Built 2002
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.74
    •  
  • 1312 Crestfield Court Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 2002
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.74
    •  
PROPERTY LISTING DETAILS
Dayna Beekman
1.704.891.5555
Jp & Associates, Realtors Carolina Living
BESbswy