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15018 Bridle Trace Lane Pineville, NC 28134

4 Beds 4 Baths 3,128 sqft Built 2002

$475,000

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $151.85
  • 6 Days on Market
  • MLS # : 3699916
  • Updated Date : 01/22/2021 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,128 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Gorgeous 2 story home in desirable Bridlestone subdivision. Over 3900 sq. ft. on .38 acre on wooded view. TWO MASTER SUITES WITH DELUXE MASTER BATHS UPSTAIRS AND DOWNSTAIRS. Beautiful Hardwood floors upstairs and downstairs. Gourmet Kitchen w/large "L" shaped granite island with cooktop, ample cabinet space, pantry, computer niche, s/s appliances, and wall oven. Formal Dining Room. First floor office w/french doors. Huge Great Room with soaring ceilings, fireplace, and picturesque views.2 story foyer with arch and decorative columns. Open sitting area upstairs that is ideal for many uses. Large deck, ideal for entertaining. Close to Carolina Place Mall. Minutes from Ballantyne. Easy access to 485.

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: 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
 

$427,500$522,500$475,000

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,650
Property Tax -$364
Property Insurance -$86
HOA -$28
Property Management Fees -$119
CASH FLOW
-$36

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.

$475,000

PROJECTED PRICE

$2,210

PROJECTED RENT

0.47%

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$1.4M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$26,069

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,244

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,1453$2,1504$2,2105$2,495
$2,495
RENT COMPS ANALYSIS
  • 15018 Bridle Trace Lane Pineville, NC 4
    • 4 beds 4 baths ∙ 3,128 Sqft ∙ Built 2002 4 beds 4 baths ∙ 3,128 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $0.71
    •  
  • 12526 Aden Creek Way Pineville, NC 1
    • 5 beds 3 baths ∙ 3,074 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,074 Sqft ∙ Built 2000
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.68
    •  
  • 12503 Bannock Drive Charlotte, NC 2
    • 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 3
    • 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
    •  
  • 15110 Redwood Valley Lane Charlotte, NC 5
    • 4 beds 3 baths ∙ 3,392 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,392 Sqft ∙ Built 2005
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.74
    •  
PROPERTY LISTING DETAILS
John Desmedt
1.704.999.0896
Exp Realty Llc
BESbswy