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16223 Dark Star Court Charlotte, NC 28278

5 Beds 4 Baths 3,554 sqft Built 2017

$419,900

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $118.15
  • 10 Days on Market
  • MLS # : 3705391
  • Updated Date : 02/13/2021 at 22:12
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,554 sqft
  • Baths : 3 full , 1 half
Listing Agent

Bliss Real Estate Llc

Listing Agent's Description

MULTIPLE OFFERS RECEIVED! Highest & best by 8 pm on Sunday, FEB 14! Welcome Home!! This open, spacious & popular floorplan features the owner's suite on the main floor, massive rear screened porch, gas fireplace & hardwood floors throughout the main living area. The gorgeous gourmet kitchen offers an island, granite counters, stainless steel appliances including double convection wall ovens, 5 burner gas cooktop & butler's pantry. The home is perfect for entertaining with space for everyone!! The owner's suite has a luxurious bathroom w dual vanity, tiled shower & oversized garden tub. All bedrooms on the 2nd floor are oversized w/ 2 sharing a jack-n-jill bathroom. Loads of storage throughout including floor to ceiling cabinets in the laundry room. Refrigerator, washer & dryer to convey! The large corner lot has a fenced backyard with an extended paver patio and plenty of room to run & play! Don't miss the beautiful community amenities!! Transferable termite bond through HomeTeam Pest!

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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
 

$377,910$461,890$419,900

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,458
Property Tax -$411
Property Insurance -$94
HOA -$69
Property Management Fees -$119
CASH FLOW
$349

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.

$419,900

PROJECTED PRICE

$2,500

PROJECTED RENT

0.60%

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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,024

INVESTMENT

$117,024

Down Payment
$104,975
Rehab Estimate
$5,750
Closing Costs
$6,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,458

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,975
Loan Amount $314,925
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$58,448

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,550

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4503$2,4954$2,5005$2,900
$2,900
RENT COMPS ANALYSIS
  • 16223 Dark Star Court Charlotte, NC 4
    • 5 beds 4 baths ∙ 3,554 Sqft ∙ Built 2017 5 beds 4 baths ∙ 3,554 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.70
    •  
  • 8719 Sagekirk Court Charlotte, NC 1
    • 4 beds 3 baths ∙ 3,618 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,618 Sqft ∙ Built 2012
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.66
    •  
  • 16810 Rudence Court Charlotte, NC 2
    • 4 beds 3 baths ∙ 3,338 Sqft ∙ Built 2010 4 beds 3 baths ∙ 3,338 Sqft ∙ Built 2010
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.73
    •  
  • 566 Brookhaven Drive Fort Mill, SC 3
    • 4 beds 4 baths ∙ 3,561 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,561 Sqft ∙ Built 2015
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.70
    •  
  • 17004 Turtle Point Road Charlotte, NC 5
    • 5 beds 4 baths ∙ 3,574 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,574 Sqft ∙ Built 2006
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.81
    •  
PROPERTY LISTING DETAILS
Jen Wetzel
1.704.996.8195
Bliss Real Estate Llc
BESbswy