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1536 Stableview Drive Gastonia, NC 28056

5 Beds 3 Baths 3,610 sqft Built 1989

$369,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $102.22
  • 3 Days on Market
  • MLS # : 3691603
  • Updated Date : 12/18/2020 at 11:42
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,610 sqft
  • Baths : 3 full
Listing Agent

Allen Tate Gastonia

Listing Agent's Description

Stately, all brick home with room to roam both inside and out. Traditional features throughout...you will be impressed by the expansive front porch, vaulted ceiling in great room with gorgeous fireplace and built ins, spacious master suite and secondary bedrooms on main floor. Upstairs offers room for a sixth bedroom if needed. Garage has an attached workshop area. Screened porch and large deck on a fabulous lot! Gorgeous neighborhood in a convenient location!

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
Cramerton Middle School Middle Regular 833 42 8
Forestview High School High Regular 1,143 63 7

Robinson Elementary School

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

Cramerton Middle School

  • Education Level: Middle
  • # of students: 833
  • # of teachers: 42
8
GreatSchools Rating

Forestview High School

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

$332,100$405,900$369,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,361
Property Tax -$312
Property Insurance -$95
HOA -$5
Property Management Fees -$119
CASH FLOW
$147

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.

$369,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.55%

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$1.2M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,535

INVESTMENT

$103,535

Down Payment
$92,250
Rehab Estimate
$5,750
Closing Costs
$5,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,361

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,250
Loan Amount $276,750
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$38,160

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.57

    LIST RENT PER SQFT
  • $1,733

    COMP ESTIMATED VALUE
  • $0.48

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$2,040
$2,040
RENT COMPS ANALYSIS
  • 1536 Stableview Drive Gastonia, NC 2
    • 5 beds 3 baths ∙ 3,610 Sqft ∙ Built 1989 5 beds 3 baths ∙ 3,610 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.57
    •  
  • 3880 Streamside Drive Gastonia, NC 1
    • 5 beds 4 baths ∙ 3,543 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,543 Sqft ∙ Built 2016
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.48
    •  
PROPERTY LISTING DETAILS
Jeannine Beert
1.704.616.1778
Allen Tate Gastonia
BESbswy