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150 Beech Street Nw Concord, NC 28025

3 Beds 1 Baths 1,124 sqft Built 1940

$175,000

List Price

$960

$864 - $1.1K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1940
  • Price/Sqft : $155.69
  • 7 Days on Market
  • MLS # : 3703886
  • Updated Date : 02/06/2021 at 17:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,124 sqft
  • Baths : 1 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Beautifully updated bungalow just steps away from historic downtown Concord. Lots of charm in this 3 bedroom ranch home with rocking chair front porch. Open concept living room and kitchen perfect for entertaining. Nicely appointed kitchen featuring white quartz counters, soft close cabinets, and upgraded stove. Spacious owners bedroom with cathedral ceilings. Upgraded bathroom with subway tile. Fenced in back yard perfect for your summer BBQ's.

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: Gibson Village

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k216k

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

Neighborhood: Gibson Village

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
Coltrane-webb Elementary School Primary Magnet 484 32 5
Concord Middle School Middle Regular 922 62 2
Concord High School High Regular 1,252 79 3

Coltrane-webb Elementary School

  • Education Level: Primary
  • # of students: 484
  • # of teachers: 32
5
GreatSchools Rating

Concord Middle School

  • Education Level: Middle
  • # of students: 922
  • # of teachers: 62
2
GreatSchools Rating

Concord High School

  • Education Level: High
  • # of students: 1,252
  • # of teachers: 79
3
GreatSchools Rating
 

$157,500$192,500$175,000

PURCHASE PRICE

$864$1,056$960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $960
EXPENSES Loan Payment -$608
Property Tax -$185
Property Insurance -$48
Property Management Fees -$119
CASH FLOW
$0

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.

$175,000

PROJECTED PRICE

$960

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$608

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$9,341

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $960

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $989

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$960
1$9602$9993$1,0454$1,1505$1,250
$1,250
RENT COMPS ANALYSIS
  • 150 Beech Street Nw Concord, NC 1
    • 3 beds 1 baths ∙ 1,124 Sqft ∙ Built 1940 3 beds 1 baths ∙ 1,124 Sqft ∙ Built 1940
    • Rent
    • Rent Per SQFT
    •  
    • $960
    • $0.85
    •  
  • 260 Odell Drive Nw Concord, NC 2
    • 3 beds 1 baths ∙ 1,110 Sqft ∙ Built 1900 3 beds 1 baths ∙ 1,110 Sqft ∙ Built 1900
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $999
    • $0.90
    •  
  • 150 Franklin Avenue Nw Concord, NC 3
    • 3 beds 1 baths ∙ 1,216 Sqft ∙ Built 1940 3 beds 1 baths ∙ 1,216 Sqft ∙ Built 1940
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,045
    • $0.86
    •  
  • 262 Buffalo Avenue Concord, NC 4
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1900 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1900
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.88
    •  
  • 386 Aycock Street Concord, NC 5
    • 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1948
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.88
    •  
PROPERTY LISTING DETAILS
Darien Swain
1.828.291.4412
Exp Realty Llc
BESbswy