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15014 Annan Court Charlotte, NC 28277

4 Beds 3 Baths 2,066 sqft Built 1999

$329,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1999
  • Price/Sqft : $159.24
  • 9 Days on Market
  • MLS # : 3674038
  • Updated Date : 10/31/2020 at 19:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,066 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dickens Mitchener & Associates Inc

Listing Agent's Description

***MULTIPLE OFFERS RECEIVED*** - PLEASE SEND ALL OFFERS BY 5PM ON 11/1. .Gorgeous home with fantastic location, backing up to Ballantyne Country Club, minutes to shopping and all that Ballantyne has to offer. Beautiful cul-de-sac street, great open floor plan, main level master suite with a large garden tub, separate shower area and custom closet. Secondary bath completely remodeled 2020, Large 4th bedroom/bonus room plus loft/office space! Private, fully fenced backyard with 12X12 shed for more storage. Lighting fixtures updated, range, microwave, and refrigerator brand new in kitchen. Roof 2015, dual zoned and replaced HVAC with 14 SEER rated unit in 2017.

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 $116k318k

* 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
Ballantyne Elementary School Primary Regular 850 44 9
Community House Middle School Middle Regular 1,750 81 9
Ardrey Kell High School High Regular 2,701 127 9

Ballantyne Elementary School

  • Education Level: Primary
  • # of students: 850
  • # of teachers: 44
9
GreatSchools Rating

Community House Middle School

  • Education Level: Middle
  • # of students: 1,750
  • # of teachers: 81
9
GreatSchools Rating

Ardrey Kell High School

  • Education Level: High
  • # of students: 2,701
  • # of teachers: 127
9
GreatSchools Rating
 

$296,100$361,900$329,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,214
Property Tax -$310
Property Insurance -$66
HOA -$19
Property Management Fees -$167
CASH FLOW
$74

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.

$329,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.56%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,935

INVESTMENT

$92,935

Down Payment
$82,250
Rehab Estimate
$5,750
Closing Costs
$4,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,250
Loan Amount $246,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$25,882

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,020

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8453$1,8504$1,8955$1,995
$1,995
RENT COMPS ANALYSIS
  • 15014 Annan Court Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,066 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,066 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.90
    •  
  • 11812 Hawick Valley Lane Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 1998
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.91
    •  
  • 14014 Wild Elm Road Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,890 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,890 Sqft ∙ Built 2001
    property image
    LEASED 02/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.98
    •  
  • 15012 Rothesay Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 1,903 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,903 Sqft ∙ Built 1998
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.00
    •  
  • 11920 Clems Branch Drive Charlotte, NC 5
    • 3 beds 3 baths ∙ 2,004 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,004 Sqft ∙ Built 2018
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.00
    •  
PROPERTY LISTING DETAILS
Michelle Dyman
1.704.998.7357
Dickens Mitchener & Associates Inc
BESbswy