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14701 Bridle Trace Lane Pineville, NC 28134

6 Beds 3 Baths 3,089 sqft Built 2003

$395,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $127.87
  • 6 Days on Market
  • MLS # : 3698094
  • Updated Date : 01/15/2021 at 21:38
CONSTRUCTION
  • Beds : 6
  • Floor Size : 3,089 sqft
  • Baths : 3 full
Listing Agent

Osborne Realty, Inc.

Listing Agent's Description

Here is your home with six bedrooms, three full baths near the Ballantyne area. A 2-story foyer with formal living and dining rooms. Main floor bedroom and bath. A family room with gas-log fireplace and open to breakfast area with a bay window. The kitchen has a bar, solid surface counters, 42" cabinets, appliances less than five years old, except the refrigerator. Plus, the laundry room is on the main level. The upper level is an enormous owner's suite for your king-size bed and any other furniture you may prefer. In the large walk-in closet, you need to turn right for more space. And a spacious bathroom with a separate shower, tub, double sink vanity. Four additional bedrooms and a full bath. Enjoy your three-car garage, patio; tree-lined back yard along the fence. The roof was replaced in 2012, HVAC was replaced in 2018, 100 PSI piping was replaced in 2020 throughout the home. One hour notice please owner works from home.

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: Ballantyne West

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $108k318k

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

Neighborhood: Ballantyne West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8442026

* 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
Pineville Elementary School Primary Regular 811 45 7
Quail Hollow Middle School Middle Regular 946 51 3
South Mecklenburg High School High Regular 2,913 147 7

Pineville Elementary School

  • Education Level: Primary
  • # of students: 811
  • # of teachers: 45
7
GreatSchools Rating

Quail Hollow Middle School

  • Education Level: Middle
  • # of students: 946
  • # of teachers: 51
3
GreatSchools Rating

South Mecklenburg High School

  • Education Level: High
  • # of students: 2,913
  • # of teachers: 147
7
GreatSchools Rating
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,372
Property Tax -$302
Property Insurance -$85
HOA -$28
Property Management Fees -$119
CASH FLOW
$244

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.

$395,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.3%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

8.75

YEARS SAVED

$47,885

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,340

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,145
1$2,1452$2,1503$2,1504$2,2955$2,495
$2,495
RENT COMPS ANALYSIS
  • 14701 Bridle Trace Lane Pineville, NC 3
    • 6 beds 3 baths ∙ 3,089 Sqft ∙ Built 2003 6 beds 3 baths ∙ 3,089 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.70
    •  
  • 12503 Bannock Drive Charlotte, NC 1
    • 5 beds 3 baths ∙ 2,901 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,901 Sqft ∙ Built 2000
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $0.74
    •  
  • 12112 Windfall Place Pineville, NC 2
    • 5 beds 4 baths ∙ 3,032 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,032 Sqft ∙ Built 2001
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.71
    •  
  • 14720 Provence Lane Charlotte, NC 4
    • 5 beds 3 baths ∙ 2,926 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,926 Sqft ∙ Built 2006
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.78
    •  
  • 11904 Southcrest Lane Pineville, NC 5
    • 6 beds 3 baths ∙ 3,118 Sqft ∙ Built 1999 6 beds 3 baths ∙ 3,118 Sqft ∙ Built 1999
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.80
    •  
PROPERTY LISTING DETAILS
Judy Osborne
1.704.763.4486
Osborne Realty, Inc.
BESbswy