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16126 Flame Azalea Court #57 Charlotte, NC 28278

3 Beds 3 Baths 2,673 sqft Built 2020

$396,900

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $148.48
  • 5 Days on Market
  • MLS # : 3691766
  • Updated Date : 12/16/2020 at 12:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,673 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ccnc Realty Group Llc

Listing Agent's Description

Open Daffodil plan boasting open concept living. Large kitchen with granite counter tops, island perfect for entertaining, and plentiful 42 inch cabinetry. Owner's pantry off the kitchen. Great room anchored by a gas fireplace with a mantle. Office on main. Owner's suite on second level with dual vanities and spacious walk in closet. Loft and two additional Secondary bedrooms upstairs offer tremendous storage with ample closets. Covered front and back porch!!!

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
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
 

$357,210$436,590$396,900

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,464
Property Tax -$328
Property Insurance -$77
HOA -$50
Property Management Fees -$119
CASH FLOW
$102

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.

$396,900

PROJECTED PRICE

$2,140

PROJECTED RENT

0.54%

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,179

INVESTMENT

$107,179

Down Payment
$99,225
Rehab Estimate
$2,000
Closing Costs
$5,954

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,464

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,225
Loan Amount $297,675
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$41,459

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,205

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1403$2,1504$2,1905$2,350
$2,350
RENT COMPS ANALYSIS
  • 16126 Flame Azalea Court Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,673 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,673 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.80
    •  
  • 13409 Highflyer Woods Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,685 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,685 Sqft ∙ Built 2015
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.74
    •  
  • 14602 Murfield Court Charlotte, NC 3
    • 4 beds 4 baths ∙ 2,659 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,659 Sqft ∙ Built 2019
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.81
    •  
  • 10326 Winyah Bay Lane Charlotte, NC 4
    • 4 beds 4 baths ∙ 2,713 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,713 Sqft ∙ Built 2019
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.81
    •  
  • 14617 Murfield Court Charlotte, NC 5
    • 4 beds 4 baths ∙ 2,654 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,654 Sqft ∙ Built 2019
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.89
    •  
PROPERTY LISTING DETAILS
Suzanne Bedwan
1.980.406.8862
Ccnc Realty Group Llc
BESbswy