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15227 Dehavilland Drive Charlotte, NC 28278

3 Beds 2 Baths 1,322 sqft Built 2003

$249,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $188.35
  • 5 Days on Market
  • MLS # : 3716997
  • Updated Date : 03/13/2021 at 16:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,322 sqft
  • Baths : 2 full
Listing Agent

Re/max Executive

Listing Agent's Description

Single level living in desirable Steelecroft Place convenient to everything in Steele Creek, lake lifestyle, airport, etc! Open floorplan perfect for entertaining. Split bedroom plan with primary bedroom at back of home. Vaulted ceilings in living room with cathedral ceilings in primary bedroom. LVP primary bath with dual vanity. Spacious closets and private fenced yard! This home is just waiting for your personal touch.

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: Steele Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Steele Creek

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
Palisades Park Elementary School Primary Unknown 687 36 NA
Southwest Middle School Middle Regular 1,403 72 6
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

Palisades Park Elementary School

  • Education Level: Primary
  • # of students: 687
  • # of teachers: 36
NA
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
 

$224,100$273,900$249,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$865
Property Tax -$217
Property Insurance -$52
HOA -$35
Property Management Fees -$119
CASH FLOW
$192

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.

$249,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.0%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,735

INVESTMENT

$71,735

Down Payment
$62,250
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$865

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,250
Loan Amount $186,750
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$33,287

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,514

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4503$1,4804$1,5005$1,675
$1,675
RENT COMPS ANALYSIS
  • 15227 Dehavilland Drive Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $1.12
    •  
  • 10148 Orchard Grass Court Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 3 beds 2 baths ∙ 1,206 Sqft ∙ Built
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.12
    •  
  • 12909 Beddingfield Drive Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 2004
    property image
    LEASED 10/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.07
    •  
  • 13639 Tryon Street Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1990
    property image
    LEASED 03/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.15
    •  
  • 13619 Michael Lynn Road Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1998
    property image
    LEASED 02/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.22
    •  
PROPERTY LISTING DETAILS
Christina Richard
1.704.787.4578
Re/max Executive
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3716997
Last Updated: 03/13/2021
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