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148 Ranlo Avenue Gastonia, NC 28054

3 Beds 3 Baths 1,841 sqft Built 2004

$239,900

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $130.31
  • 3 Days on Market
  • MLS # : 3715152
  • Updated Date : 03/06/2021 at 22:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,841 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allen Tate Gastonia

Listing Agent's Description

Nice home in mountain view, updated and shows great. Very nice kitchen w/lots of pretty cabinets, island w/storage, stainless. New laminate flooring down, open plan to great room, large bedrooms are up, master is very large with walk in closets. Master bath has new tiled shower. Double vanity, Tub, large bedrooms. Loft, could be office. Laundry room is good size and shelving. Fenced back yard is private, brick paver patio. Won't last long with the footage and the price. Shows great.

SEE MORE

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

Zip Code: 28054

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k213k

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

Zip Code: 28054

ZipNIR Market*CityMarket2010Year20002019 Q270075080085090095010001050110011501200125013001350Rent in $6771375

* 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
Brookside Elementary School Primary Regular 551 34 4
Holbrook Middle School Middle Regular 731 40 6
North Gaston High School High Regular 1,095 60 3

Brookside Elementary School

  • Education Level: Primary
  • # of students: 551
  • # of teachers: 34
4
GreatSchools Rating

Holbrook Middle School

  • Education Level: Middle
  • # of students: 731
  • # of teachers: 40
6
GreatSchools Rating

North Gaston High School

  • Education Level: High
  • # of students: 1,095
  • # of teachers: 60
3
GreatSchools Rating
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$833
Property Tax -$185
Property Insurance -$62
HOA -$15
Property Management Fees -$119
CASH FLOW
$217

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.

$239,900

PROJECTED PRICE

$1,430

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
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$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$833

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

9.83

YEARS SAVED

$34,064

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,556

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,299
1$1,2992$1,4303$1,5504$1,5995$1,599
$1,599
RENT COMPS ANALYSIS
  • 148 Ranlo Avenue Gastonia, NC 2
    • 3 beds 3 baths ∙ 1,841 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,841 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.78
    •  
  • 3097 Teton Drive Gastonia, NC 1
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 2004
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.79
    •  
  • 109 Ranlo Avenue Gastonia, NC 3
    • 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 2003
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
  • 820 Joselynn Drive Gastonia, NC 4
    • 4 beds 3 baths ∙ 2,001 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,001 Sqft ∙ Built 2018
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.80
    •  
  • 4239 Everest Drive Gastonia, NC 5
    • 3 beds 3 baths ∙ 1,759 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,759 Sqft ∙ Built 2004
    LEASED 03/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.91
    •  
PROPERTY LISTING DETAILS
Ann Bradshaw
1.704.813.1658
Allen Tate Gastonia
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3715152
Last Updated: 03/06/2021
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