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16120 Raptor Court Charlotte, NC 28278

3 Beds 3 Baths 2,873 sqft Built 2007

$330,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $114.86
  • 25 Days on Market
  • MLS # : 3686752
  • Updated Date : 12/19/2020 at 20:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,873 sqft
  • Baths : 2 full , 1 half
Listing Agent

Regal Carolinas Homes Inc

Listing Agent's Description

The house is love at first sight!! Located in a hot neighborhood in Steele Creek area, minutes from Lake Wylie, Carowinds, and right by the border with SC. Freshly renovated bathrooms, vinyl plank floors, NO Carpet, oversized paved patio with pergola! 3 bedrooms with big closets and an extra bed/bonus room. And not to forget, a comfortable office on the first floor! HUGE modern Master Suite with lounge area and custom details throughout. You can't miss this backyard because it is a perfect spot for your family! Come see it today!

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: 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
River Gate Elementary School Primary Regular 828 44 7
Southwest Middle School Middle Regular 1,403 72 6
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

River Gate Elementary School

  • Education Level: Primary
  • # of students: 828
  • # of teachers: 44
7
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
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,218
Property Tax -$288
Property Insurance -$81
HOA -$37
Property Management Fees -$119
CASH FLOW
-$22

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.

$330,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.52%

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) 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-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$22,039

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.6

    LIST RENT PER SQFT
  • $1,810

    COMP ESTIMATED VALUE
  • $0.63

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7203$1,7254$1,8505$2,050
$2,050
RENT COMPS ANALYSIS
  • 16120 Raptor Court Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,873 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,873 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.60
    •  
  • 16031 Long Talon Way Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,756 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,756 Sqft ∙ Built 2006
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.60
    •  
  • 15530 Normans Landing Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 3,054 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,054 Sqft ∙ Built 2006
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.56
    •  
  • 16116 Raptor Court Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,745 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,745 Sqft ∙ Built 2007
    property image
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.67
    •  
  • 12508 Hunting Birds Lane Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,953 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,953 Sqft ∙ Built 2011
    property image
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.69
    •  
PROPERTY LISTING DETAILS
Alla Rizayev
1.704.502.5992
Regal Carolinas Homes Inc
BESbswy