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15138 Callow Forest Drive Charlotte, NC 28273

4 Beds 3 Baths 3,061 sqft Built 2005

INVESTimate

$375,000

List Price

$2,060

$1,854 - $2,266

Rent Est.

$400,987  ( +6.93%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $122.51
  • 6 Days on Market
  • MLS # : 3653880
  • Updated Date : 08/25/2020 at 10:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,061 sqft
  • Baths : 3 full
Listing Agent

Berkshire Hathaway Homeservices Carolinas Realty

Listing Agent's Description

EXTREMELY WELL MAINTAINED HOME!!! Located in highly desired and growing Steele Creek area in the Huntington Forest Neighborhood won't last long. As this corner lot home has a number of upgrades. Such as plantation shutters, built in surround sound system, security system with cameras, wet bar in the huge bonus room, in-ground irrigation system, fenced in yard and professional landscaping. The built in surround sound is not only inside, it's outside as well! While sitting on the huge patio, which has outdoor lighting along with a fire pit and stone benches to enjoy wonderful days and nights on as well as being able to watch the kids run around and have a great time. This home is extremely convenient to all your needs. Shopping, Premium Outlets, I-485, I-77, I-85, Lake Wylie, Carowinds and the list of amenities goes on. Come see this beautiful home while it lasts!!

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: Brown Road

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $100k235k

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

Neighborhood: Brown Road

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8421716

* 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
Lake Wylie Elementary School Primary Regular 632 39 6
Southwest Middle School Middle Regular 1,403 72 6
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

Lake Wylie Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 39
6
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
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,384
Property Tax -$333
Property Insurance -$85
HOA -$42
Property Management Fees -$185
CASH FLOW
$32

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$375,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 6.93%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$20,490

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $2,089

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,8953$1,9954$1,9955$2,060
$2,060
RENT COMPS ANALYSIS
  • 15138 Callow Forest Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 3,061 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,061 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.67
    •  
  • 9730 Loughlin Lane Charlotte, NC 1
    • 5 beds 3 baths ∙ 2,816 Sqft ∙ Built 2009 5 beds 3 baths ∙ 2,816 Sqft ∙ Built 2009
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.67
    •  
  • 14910 Alyssa Faith Court Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,839 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,839 Sqft ∙ Built 2010
    LEASED 04/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.67
    •  
  • 12713 Wither Steele Court Charlotte, NC 3
    • 5 beds 3 baths ∙ 2,848 Sqft ∙ Built 2014 5 beds 3 baths ∙ 2,848 Sqft ∙ Built 2014
    LEASED 10/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.70
    •  
  • 15107 Callow Forest Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,878 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,878 Sqft ∙ Built 2005
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.69
    •  
PROPERTY LISTING DETAILS
Brett Golembe
1.980.245.6689
Berkshire Hathaway Homeservices Carolinas Realty
BESbswy