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1451 Eschol Lane Concord, NC 28027

5 Beds 3 Baths 2,131 sqft Built 2005

$229,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $107.46
  • 3 Days on Market
  • MLS # : 3679509
  • Updated Date : 11/06/2020 at 07:09
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,131 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Drop what you are doing! This is the house you have been looking for!! Very well-maintained home in a neighborhood with NO HOA!! Conveniently located right off of I-85, this home is on a corner lot with privacy fence. Enter to 2 story Great Room with fireplace. Kitchen with large breakfast area, pantry, and door to back patio. Laundry on main level. First floor Owners Suite features trey ceiling, private bath with dual sinks, garden tub, separate shower and large closet. Upstairs find 3 additional spacious bedrooms all with vaulted ceilings and a huge bonus/5th bedroom and full bath. Private backyard with level lot and 2 car attached garage. Here's your chance to own a piece of Hollywood... call for more info, but hurry it won't last long!! 1 year home warranty included with HWA!

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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: Havenbrook

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210kPrice in $113k216k

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

Neighborhood: Havenbrook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350Rent in $8391375

* 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
Winecoff Elementary School Primary Regular 904 58 2
Northwest Cabarrus Middle School Middle Regular 905 58 4
Northwest Cabarrus High School High Regular 1,198 72 3

Winecoff Elementary School

  • Education Level: Primary
  • # of students: 904
  • # of teachers: 58
2
GreatSchools Rating

Northwest Cabarrus Middle School

  • Education Level: Middle
  • # of students: 905
  • # of teachers: 58
4
GreatSchools Rating

Northwest Cabarrus High School

  • Education Level: High
  • # of students: 1,198
  • # of teachers: 72
3
GreatSchools Rating
 

$206,100$251,900$229,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$845
Property Tax -$242
Property Insurance -$67
Property Management Fees -$135
CASH FLOW
$211

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$229,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,435

INVESTMENT

$66,435

Down Payment
$57,250
Rehab Estimate
$5,750
Closing Costs
$3,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,250
Loan Amount $171,750
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$31,553

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,524

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4453$1,500
$1,500
RENT COMPS ANALYSIS
  • 1451 Eschol Lane Concord, NC 3
    • 5 beds 3 baths ∙ 2,131 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,131 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.70
    •  
  • 148 Newport Drive Kannapolis, NC 1
    • 4 beds 3 baths ∙ 1,950 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,950 Sqft ∙ Built 2007
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.72
    •  
  • 1376 Zered Place Concord, NC 2
    • 4 beds 3 baths ∙ 2,037 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,037 Sqft ∙ Built 2006
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.71
    •  
PROPERTY LISTING DETAILS
Heidi Hines
1.704.458.4636
Exp Realty Llc
BESbswy