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16049 Fieldstone Trace #247 Nolan Craftsman Charlotte, NC 28278

4 Beds 4 Baths 3,071 sqft Built 2020

$409,221

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $133.25
  • 4 Days on Market
  • MLS # : 3678164
  • Updated Date : 11/02/2020 at 17:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,071 sqft
  • Baths : 3 full , 1 half
Listing Agent

Mattamy Carolina Corporation

Listing Agent's Description

Nolan Craftsman plan master down stairs. This home includes 4 spacious bedroom and 3 full baths and flex room. Upgrading flooring throughout, oversize island,granite countertops, stainless steel appliances with upgraded cabinets, tiled master shower. Tons of upgrades. Close to Charlotte Douglas Airport, Uptown Charlotte and Fort Mill. Low Taxes.

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: Pleasant Hill Road

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $116k346k

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

Neighborhood: Pleasant Hill Road

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441854

* 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
Palisades Park Elementary School Primary Unknown 687 36 NA
Southwest Middle School Middle Regular 1,403 72 6
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

Palisades Park Elementary School

  • Education Level: Primary
  • # of students: 687
  • # of teachers: 36
NA
GreatSchools Rating

Southwest Middle School

  • Education Level: Middle
  • # of students: 1,403
  • # of teachers: 72
6
GreatSchools Rating

Math, Engineering, Technology And Science At Olympic High School

  • Education Level: High
  • # of students: 607
  • # of teachers: 28
7
GreatSchools Rating
 

$368,299$450,143$409,221

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$1,510
Property Tax -$334
Property Insurance -$85
HOA -$67
Property Management Fees -$227
CASH FLOW
$298

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$409,221

PROJECTED PRICE

$2,520

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 3.00%
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$1.2M$1.4M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,444

INVESTMENT

$110,444

Down Payment
$102,305
Rehab Estimate
$2,000
Closing Costs
$6,138

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,510

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,305
Loan Amount $306,916
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$62,632

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,534

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,2753$2,4004$2,5205$2,700
$2,700
RENT COMPS ANALYSIS
  • 16049 Fieldstone Trace Charlotte, NC 4
    • 4 beds 4 baths ∙ 3,071 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,071 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $0.82
    •  
  • 14611 Murfield Court Charlotte, NC 1
    • 4 beds 4 baths ∙ 2,730 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,730 Sqft ∙ Built 2019
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.82
    •  
  • 14500 Murfield Court Charlotte, NC 2
    • 4 beds 4 baths ∙ 2,730 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,730 Sqft ∙ Built 2019
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $0.83
    •  
  • 15014 Cordelia Drive Charlotte, NC 3
    • 5 beds 3 baths ∙ 2,914 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,914 Sqft ∙ Built 2020
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.82
    •  
  • 13620 Glen Abbey Drive Charlotte, NC 5
    • 5 beds 4 baths ∙ 3,255 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,255 Sqft ∙ Built 2006
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.83
    •  
PROPERTY LISTING DETAILS
John George
1.704.309.6173
Mattamy Carolina Corporation
BESbswy