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16109 Lost Canyon Way Charlotte, NC 28277

4 Beds 4 Baths 2,223 sqft Built 2016

$410,000

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2016
  • Price/Sqft : $184.44
  • 10 Days on Market
  • MLS # : 3676024
  • Updated Date : 10/28/2020 at 09:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,223 sqft
  • Baths : 3 full , 1 half
Listing Agent

Call It Closed International Inc

Listing Agent's Description

Welcome to this stunning Shea home superbly located in Ballantyne. This courtyard-style beauty was built in 2016 with the master on the main level and still feels like a new home. It has an open floor plan and elegant finishes to include: wide plank wood floors throughout most of the main level & tile in all baths, gorgeous chef's kitchen with granite countertops, oversized island, subway tile backsplash, wall oven, sleek hood over the gas cooktop, frameless tiled shower, His & Hers sink vanity with quartz countertop, and lots of windows for an abundance of natural light. Great location in the neighborhood with private view. Easy access to shops, great dining and healthcare. Top ranked schools. Yard maintenance included.

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: Ballantyne West

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Ballantyne West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8442026

* 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
Elon Park Elementary School Primary Regular 1,115 62 9
Community House Middle School Middle Regular 1,750 81 9
Ardrey Kell High School High Regular 2,701 127 9

Elon Park Elementary School

  • Education Level: Primary
  • # of students: 1,115
  • # of teachers: 62
9
GreatSchools Rating

Community House Middle School

  • Education Level: Middle
  • # of students: 1,750
  • # of teachers: 81
9
GreatSchools Rating

Ardrey Kell High School

  • Education Level: High
  • # of students: 2,701
  • # of teachers: 127
9
GreatSchools Rating
 

$369,000$451,000$410,000

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,513
Property Tax -$387
Property Insurance -$69
HOA -$155
Property Management Fees -$202
CASH FLOW
-$85

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.

$410,000

PROJECTED PRICE

$2,240

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.3%
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-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$15,146

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,223

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1003$2,2404$2,2505$2,300
$2,300
RENT COMPS ANALYSIS
  • 16109 Lost Canyon Way Charlotte, NC 3
    • 4 beds 4 baths ∙ 2,223 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,223 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $1.01
    •  
  • 16216 Frostwatch Circle Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2017
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.88
    •  
  • 16152 Lost Canyon Way Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 2015
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.97
    •  
  • 16211 Frostwatch Circle Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 2016
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.98
    •  
  • 15158 Sapphire Hill Lane Charlotte, NC 5
    • 4 beds 4 baths ∙ 2,183 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,183 Sqft ∙ Built 2017
    property image
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.05
    •  
PROPERTY LISTING DETAILS
Roberta Gary
1.336.303.5037
Call It Closed International Inc
BESbswy