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1609 Eden Glen Drive Dallas, NC 28034

3 Beds 2 Baths 1,542 sqft Built 2001

$240,000

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2001
  • Price/Sqft : $155.64
  • 13 Days on Market
  • MLS # : 3676727
  • Updated Date : 11/07/2020 at 17:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,542 sqft
  • Baths : 2 full
Listing Agent

Team Thomas & Associates Realty Inc.

Listing Agent's Description

Recently updated, move-in-ready 1-story ranch in a no HOA community. Great family layout with several upgrades (Flooring, Paint, Appliances, Shiplap and more!). Breakfast area conveniently located off the kitchen next to fenced back yard. Outdoor space office fire pit and large patio space. Perfect for year-round entertaining! Open floor living space gives this ranch a good flow throughout. Conveniently located to Dallas, highways, parks, and grocery store. Please make sure to look at the video and property website.

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

Zip Code: 28034

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k213k

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

Zip Code: 28034

ZipNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300Rent in $6411375

* 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
Costner Elementary School Primary Regular 583 32 5
W.c. Friday Middle School Middle Regular 687 38 4
North Gaston High School High Regular 1,095 60 3

Costner Elementary School

  • Education Level: Primary
  • # of students: 583
  • # of teachers: 32
5
GreatSchools Rating

W.c. Friday Middle School

  • Education Level: Middle
  • # of students: 687
  • # of teachers: 38
4
GreatSchools Rating

North Gaston High School

  • Education Level: High
  • # of students: 1,095
  • # of teachers: 60
3
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$886
Property Tax -$184
Property Insurance -$56
Property Management Fees -$113
CASH FLOW
$11

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.

$240,000

PROJECTED PRICE

$1,250

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 3.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$13,319

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,259

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3753$1,3954$1,425
$1,425
RENT COMPS ANALYSIS
  • 1609 Eden Glen Drive Dallas, NC 1
    • 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.81
    •  
  • 2680 Mcintosh Street Dallas, NC 2
    • 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2020
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.81
    •  
  • 3049 Hereford Lane Dallas, NC 3
    • 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 2010
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.80
    •  
  • 2665 Mcintosh Street Dallas, NC 4
    • 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2020
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.84
    •  
PROPERTY LISTING DETAILS
Luke White
1.704.813.2238
Team Thomas & Associates Realty Inc.
BESbswy