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15014 Copper Ridge Trail Charlotte, NC 28273

4 Beds 3 Baths 1,848 sqft Built 1995

$275,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $148.81
  • 2 Days on Market
  • MLS # : 3703593
  • Updated Date : 01/30/2021 at 11:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,848 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Executive

Listing Agent's Description

Great home in the Steele Creek Area. 4 bedrooms and 2.5 bathrooms. Master bedroom on main level. Open floor-plan. Great community with no HOA. Large master bedroom and master bathroom. Dual vanity with separate shower and garden tub. Trane HVAC. Vacant and easy to show. Great yard with a shed. Home is being sold as-is.

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

Neighborhood: Yorkshire

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $103k318k

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

Neighborhood: Yorkshire

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
River Gate Elementary School Primary Regular 828 44 7
Southwest Middle School Middle Regular 1,403 72 6
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

River Gate Elementary School

  • Education Level: Primary
  • # of students: 828
  • # of teachers: 44
7
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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$955
Property Tax -$240
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$174

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.

$275,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.2%
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$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$33,596

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,635

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,6004$1,6255$1,725
$1,725
RENT COMPS ANALYSIS
  • 15014 Copper Ridge Trail Charlotte, NC 1
    • 4 beds 3 baths ∙ 1,848 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,848 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
  • 13132 Canterbury Castle Drive Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 2017
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.94
    •  
  • 14127 Southbridge Forest Drive Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,945 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,945 Sqft ∙ Built 1996
    property image
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.82
    •  
  • 12635 Cumberland Cove Drive Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,864 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,864 Sqft ∙ Built 2007
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.87
    •  
  • 14422 Southbridge Forest Drive Charlotte, NC 5
    • 4 beds 2 baths ∙ 1,903 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,903 Sqft ∙ Built 1998
    property image
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.91
    •  
PROPERTY LISTING DETAILS
Shane Gavin
1.704.877.0468
Re/max Executive
BESbswy