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14633 Arlandes Drive Charlotte, NC 28278

3 Beds 3 Baths 1,467 sqft Built 2002

$285,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $194.27
  • 4 Days on Market
  • MLS # : 3712004
  • Updated Date : 02/26/2021 at 11:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,467 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Charlotte two-story cul-de-sac home offers granite countertops and a two-car garage. This home is vacant and cleaned regularly.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Steele Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Steele Creek

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
Palisades Park Elementary School Primary Unknown 687 36 NA
Southwest Middle School Middle Regular 1,403 72 6
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

Palisades Park Elementary School

  • Education Level: Primary
  • # of students: 687
  • # of teachers: 36
NA
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
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$990
Property Tax -$248
Property Insurance -$55
HOA -$37
Property Management Fees -$119
CASH FLOW
-$39

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.

$285,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$14,127

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,416

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,410
1$1,4102$1,4753$1,4954$1,5355$1,550
$1,550
RENT COMPS ANALYSIS
  • 14633 Arlandes Drive Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,467 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,467 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.96
    •  
  • 13314 Michael Lynn Road Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1998
    LEASED 09/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.04
    •  
  • 14445 Arlandes Drive Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2002
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 14337 Fokker Place Charlotte, NC 4
    • 4 beds 3 baths ∙ 1,666 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,666 Sqft ∙ Built 2002
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,535
    • $0.92
    •  
  • 15736 Lakepoint Forest Drive Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 2007
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.95
    •  
PROPERTY LISTING DETAILS
Verria Hairston
1.704.751.0133
Opendoor Brokerage Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3712004
Last Updated: 02/26/2021
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