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15808 Deepwood Place Indian Trail, NC 28079

3 Beds 3 Baths 1,980 sqft Built 1977

$289,900

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $146.41
  • 3 Days on Market
  • MLS # : 3686296
  • Updated Date : 11/27/2020 at 13:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,980 sqft
  • Baths : 2 full , 1 half
Listing Agent

Steve Nash Llc

Listing Agent's Description

Hard to find private one of a kind custom built home nestled among established hardwoods! This home is located on over an acre established lot with NO HOA minutes from 485 and Lawyers Rd interchange. Features include two story great room with wood burning fireplace, Private patios off every bedroom! Spacious ranch with lots of potential. This home needs a little TLC and is being sold as is.

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: Golden Acres

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Golden Acres

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441817

* 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
Stallings Elementary School Primary Regular 576 32 9
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Stallings Elementary School

  • Education Level: Primary
  • # of students: 576
  • # of teachers: 32
9
GreatSchools Rating

Porter Ridge Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 72
7
GreatSchools Rating

Porter Ridge High School

  • Education Level: High
  • # of students: 1,591
  • # of teachers: 77
7
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$1,070
Property Tax -$189
Property Insurance -$64
Property Management Fees -$128
CASH FLOW
-$31

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.

$289,900

PROJECTED PRICE

$1,420

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.3%
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-$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$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$15,005

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,520

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,420
1$1,4202$1,4503$1,4954$1,6005$1,695
$1,695
RENT COMPS ANALYSIS
  • 15808 Deepwood Place Indian Trail, NC 1
    • 3 beds 3 baths ∙ 1,980 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,980 Sqft ∙ Built 1977
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.72
    •  
  • 3126 Leicester Drive Matthews, NC 2
    • 3 beds 3 baths ∙ 2,087 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,087 Sqft ∙ Built 1999
    property image
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.69
    •  
  • 7009 Paddle Wheel Lane Indian Trail, NC 3
    • 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 2005
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.75
    •  
  • 6708 Brookgreen Terrace Matthews, NC 4
    • 4 beds 2 baths ∙ 1,909 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,909 Sqft ∙ Built 1979
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.84
    •  
  • 6108 Follow The Trail Indian Trail, NC 5
    • 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 2006
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.79
    •  
PROPERTY LISTING DETAILS
Elizabeth Kempf
1.704.289.2333
Steve Nash Llc
BESbswy