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14405 Widgeon Court Charlotte, NC 28273

4 Beds 2 Baths 2,908 sqft Built 1990

$420,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $144.43
  • 20 Days on Market
  • MLS # : 3693339
  • Updated Date : 01/06/2021 at 16:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,908 sqft
  • Baths : 2 full
Listing Agent

Rawson Realty, Llc

Listing Agent's Description

Beautiful home sits on over 1/3 acre. Fenced yard w/beautiful views of the private neighborhood pond from every window on the back of the house and deck. Step from your beautifully landscaped yard onto the walking trail surrounding the pond. Playground just 2 lots away. Enjoy the front wrap around porch overlooking mature trees and blooming bushes. Home features owner's suite on the main with luxurious bath, also updated. Huge walk in shower, jetted tub, dual sinks and built in vanity. Large walk in closet. Updated kitchen has an island w/tons of storage for the chef. Shaker style cabinets and granite countertops. Kitchen is open to the family room with wood burning fireplace, soaring ceiling. Formal dining. 3 bedrooms up,w/large closets. Loft area- great play or virtual class space. Full bath w/dual vanity. 2 bay garage w/room for storage. 30 mins to uptown Charlotte. 5 mins to Rivergate Shopping Center, 5 mins to Carowinds Theme Park, 10 mins to Lake Wylie and McDowell Nature Pres

SEE MORE

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: Yorkshire

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $103k318k

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

Neighborhood: Yorkshire

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
River Gate Elementary School Primary Regular 828 44 7
Southwest Middle School Middle Regular 1,403 72 6
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

River Gate Elementary School

  • Education Level: Primary
  • # of students: 828
  • # of teachers: 44
7
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
 

$378,000$462,000$420,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,459
Property Tax -$366
Property Insurance -$84
HOA -$27
Property Management Fees -$119
CASH FLOW
-$145

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.

$420,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.2%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,459

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$14,090

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $2,159

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,9103$1,9954$2,2995$2,345
$2,345
RENT COMPS ANALYSIS
  • 14405 Widgeon Court Charlotte, NC 2
    • 4 beds 2 baths ∙ 3,020 Sqft ∙ Built 1990 4 beds 2 baths ∙ 3,020 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.63
    •  
  • 9730 Loughlin Lane Charlotte, NC 1
    • 5 beds 3 baths ∙ 2,816 Sqft ∙ Built 2009 5 beds 3 baths ∙ 2,816 Sqft ∙ Built 2009
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.67
    •  
  • 14712 Vaughan Drive Charlotte, NC 3
    • 4 beds 4 baths ∙ 2,786 Sqft ∙ Built 2010 4 beds 4 baths ∙ 2,786 Sqft ∙ Built 2010
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.72
    •  
  • 13912 Highland Meadow Road Charlotte, NC 4
    • 5 beds 4 baths ∙ 3,165 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,165 Sqft ∙ Built 2007
    property image
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,299
    • $0.73
    •  
  • 11402 Scottsman Trace Drive Charlotte, NC 5
    • 5 beds 4 baths ∙ 3,153 Sqft ∙ Built 2010 5 beds 4 baths ∙ 3,153 Sqft ∙ Built 2010
    property image
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,345
    • $0.74
    •  
PROPERTY LISTING DETAILS
Lisa Miller
1.704.724.2458
Rawson Realty, Llc
BESbswy