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15808 Deepwood Place Indian Trail, NC 28079

3 Beds 3 Baths 1,980 sqft Built 1977

$274,900

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $138.84
  • 2 Days on Market
  • MLS # : 3692273
  • Updated Date : 12/19/2020 at 18:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,980 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Executive

Listing Agent's Description

Older custom built home nestled under a canopy of hardwoods on over an acre. Just minutes from I-485 and a convenient shopping center. There is no HOA with this private lot. Home needs some cosmetic updates and TLC. Has been used as a rental but great bones and would be a perfect place to call home with a little effort. Great room has vaulted ceilings and a wood burning fireplace. There is also a den, dining room & kitchen with adjoining breakfast room for more casual entertaining. All three bedrooms have sliding glass doors leading to patios and great for natural lighting. Pantry, large laundry closet, walk-in closet in owners suite. Very open plan with so much potential. Home is clean and ready for your custom touches.

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
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,014
Property Tax -$180
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$123

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.

$274,900

PROJECTED PRICE

$1,500

PROJECTED RENT

0.55%

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$1.0M

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,014

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$34,755

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,520

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,5004$1,6005$1,695
$1,695
RENT COMPS ANALYSIS
  • 15808 Deepwood Place Indian Trail, NC 3
    • 3 beds 3 baths ∙ 1,980 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,980 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.76
    •  
  • 3126 Leicester Drive Matthews, NC 1
    • 3 beds 3 baths ∙ 2,087 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,087 Sqft ∙ Built 1999
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.69
    •  
  • 7009 Paddle Wheel Lane Indian Trail, NC 2
    • 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 2005
    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
    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
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.79
    •  
PROPERTY LISTING DETAILS
Libby Offnick
1.980.722.2977
Re/max Executive
BESbswy