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16124 Raptor Court Charlotte, NC 28278

5 Beds 3 Baths 3,028 sqft Built 2007

$319,900

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

December 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $105.65
  • 1 Days on Market
  • MLS # : 3691409
  • Updated Date : 12/20/2020 at 00:11
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,028 sqft
  • Baths : 3 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Spacious, open concept 5 bedroom home is the desirable Steele Creek area. Well maintained with NEW, high efficiency HVAC system. Move in ready! Wood floors throughout first floor with bedroom and full bath on main level as well. Large bonus / loft space with surround sound system. Oversize primary bedroom with walk in closet, large bath with dual vanities and separate garden tub and shower. Practical location with easy access to highways, minutes from airport, hospital, lake, outlet mall, shopping and dining.

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
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,180
Property Tax -$290
Property Insurance -$84
HOA -$46
Property Management Fees -$119
CASH FLOW
$230

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.

$319,900

PROJECTED PRICE

$1,950

PROJECTED RENT

0.61%

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$1.2M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$48,244

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $2,074

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0453$2,0454$2,0505$2,145
$2,145
RENT COMPS ANALYSIS
  • 16124 Raptor Court Charlotte, NC 1
    • 5 beds 3 baths ∙ 3,028 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,028 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.64
    •  
  • 15105 Cavanshire Trail Charlotte, NC 2
    • 5 beds 3 baths ∙ 3,020 Sqft ∙ Built 2010 5 beds 3 baths ∙ 3,020 Sqft ∙ Built 2010
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $0.68
    •  
  • 16215 Long Talon Way Charlotte, NC 3
    • 5 beds 4 baths ∙ 2,942 Sqft ∙ Built 2006 5 beds 4 baths ∙ 2,942 Sqft ∙ Built 2006
    property image
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $0.70
    •  
  • 12508 Hunting Birds Lane Charlotte, NC 4
    • 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
    •  
  • 14319 Pintail Landing Lane Charlotte, NC 5
    • 5 beds 4 baths ∙ 3,186 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,186 Sqft ∙ Built 2006
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $0.67
    •  
PROPERTY LISTING DETAILS
Jill Moyer
1.704.778.5299
Redfin Corporation
BESbswy