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154 Enwood Drive Charlotte, NC 28214

4 Beds 2 Baths 1,892 sqft Built 1964

$260,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1964
  • Price/Sqft : $137.42
  • 5 Days on Market
  • MLS # : 3678306
  • Updated Date : 11/04/2020 at 14:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,892 sqft
  • Baths : 2 full
Listing Agent

Mark Spain Real Estate

Listing Agent's Description

Make this beautiful, split level home yours today!! Quietly located in the Coulwood Hills neighborhood. This 4 bedroom, 2 bathroom, open floor plan is move in ready. Enjoy a quiet evening on the back patio or a nice dinner in the spacious kitchen, complete with a functional island. Lower level includes a bedroom, study, full bath, and laundry room. Fresh paint, new roof in 2019, new garage doors in 2020, plus many other improvements!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Coulwood West

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $104k235k

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

Neighborhood: Coulwood West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350140014501500Rent in $7871518

* 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
Paw Creek Elementary School Primary Regular 530 37 5
Coulwood Middle School Middle Regular 694 45 7
West Mecklenburg High School High Regular 2,040 108 1

Paw Creek Elementary School

  • Education Level: Primary
  • # of students: 530
  • # of teachers: 37
5
GreatSchools Rating

Coulwood Middle School

  • Education Level: Middle
  • # of students: 694
  • # of teachers: 45
7
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$959
Property Tax -$227
Property Insurance -$63
Property Management Fees -$129
CASH FLOW
$53

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.

$260,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$17,143

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,433

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4003$1,4254$1,4305$1,450
$1,450
RENT COMPS ANALYSIS
  • 154 Enwood Drive Charlotte, NC 4
    • 4 beds 2 baths ∙ 1,892 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,892 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.76
    •  
  • 157 Mellwood Drive Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2003
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.73
    •  
  • 154 Kensett Avenue Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 3 beds 2 baths ∙ 1,900 Sqft ∙ Built
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.74
    •  
  • 455 Kimmswick Road Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 1963
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.73
    •  
  • 1158 Delander Lane Charlotte, NC 5
    • 4 beds 3 baths ∙ 1,756 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,756 Sqft ∙ Built 2006
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.83
    •  
PROPERTY LISTING DETAILS
Rachel Alles
1.855.299.7653
Mark Spain Real Estate
BESbswy