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1526 Orange Hill Court Gastonia, NC 28056

4 Beds 3 Baths 2,686 sqft Built 1992

$375,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $139.61
  • 21 Days on Market
  • MLS # : 3676013
  • Updated Date : 11/12/2020 at 10:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,686 sqft
  • Baths : 2 full , 1 half
Listing Agent

Breedlove Farms Estates And Land

Listing Agent's Description

One of the best selling points for a home in this community is that rarely do people sell. They love living there with its gracious tree lined streets, community pool, and the proximity to the 57+ acre Martha Rivers Park. This complex has soccer, baseball, a themed Castle play area for children, paved walking paths, pavillions for picnics, volleyball, restrooms, and just about something for everyone, child or adult. The home itself is equally impressive with complete remodeling over the last 5 years. See detail sheet in attachments . With an outdoor kitchen, beautiful outdoor furniture included along with a massive outdoor dining table, it is easy to feel the outdoors and indoors are complementary. A fire-pit and outdoor spa complete the esence of the fenced rear yard. Inside a media room, custom cabinetry, master bedroom and bath seen only in exclusively priced homes, high end flooring (no carpet), with a gourmet kitchen to boot. Fully irrigated yard, garage work areas.

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

Zip Code: 28056

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $81k213k

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

Zip Code: 28056

ZipNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400Rent in $6901460

* 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
Robinson Elementary School Primary Regular 362 22 6
Southwest Middle School Middle Regular 867 47 4
Forestview High School High Regular 1,143 63 7

Robinson Elementary School

  • Education Level: Primary
  • # of students: 362
  • # of teachers: 22
6
GreatSchools Rating

Southwest Middle School

  • Education Level: Middle
  • # of students: 867
  • # of teachers: 47
4
GreatSchools Rating

Forestview High School

  • Education Level: High
  • # of students: 1,143
  • # of teachers: 63
7
GreatSchools Rating
 

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

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,384
Property Tax -$311
Property Insurance -$78
HOA -$29
Property Management Fees -$174
CASH FLOW
-$45

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

$1,930

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

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

3.58

YEARS SAVED

$14,947

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,920

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,645
1$1,6452$1,7853$1,930
$1,930
RENT COMPS ANALYSIS
  • 1526 Orange Hill Court Gastonia, NC 3
    • 4 beds 3 baths ∙ 2,686 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,686 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.72
    •  
  • 1500 Rice Hope Court Gastonia, NC 1
    • 3 beds 3 baths ∙ 2,410 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,410 Sqft ∙ Built 1990
    property image
    LEASED 07/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.68
    •  
  • 1483 Plantation Trail Gastonia, NC 2
    • 4 beds 3 baths ∙ 2,574 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,574 Sqft ∙ Built 2003
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $0.69
    •  
PROPERTY LISTING DETAILS
Jo Zarnoch
1.704.400.1701
Breedlove Farms Estates And Land
BESbswy