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1671 Wild Turkey Way Se Concord, NC 28025

3 Beds 3 Baths 1,702 sqft Built 2005

$225,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $132.20
  • 3 Days on Market
  • MLS # : 3683591
  • Updated Date : 11/27/2020 at 07:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,702 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Executive

Listing Agent's Description

Large Great room,MASTER on Main, Bedrooms up and Bonus Room. Very large side yard/ Corner lot. A must See !!

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: Hummingbird Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210kPrice in $105k216k

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

Neighborhood: Hummingbird Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q275080085090095010001050110011501200125013001350Rent in $7441375

* 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
W M Irvin Elementary School Primary Regular 870 56 2
Mt. Pleasant Middle School Middle Regular 644 43 6
Mount Pleasant High School High Regular 831 55 4

W M Irvin Elementary School

  • Education Level: Primary
  • # of students: 870
  • # of teachers: 56
2
GreatSchools Rating

Mt. Pleasant Middle School

  • Education Level: Middle
  • # of students: 644
  • # of teachers: 43
6
GreatSchools Rating

Mount Pleasant High School

  • Education Level: High
  • # of students: 831
  • # of teachers: 55
4
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$830
Property Tax -$170
Property Insurance -$59
Property Management Fees -$131
CASH FLOW
$260

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$225,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

10.25

YEARS SAVED

$39,889

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,339

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,2753$1,2954$1,450
$1,450
RENT COMPS ANALYSIS
  • 1671 Wild Turkey Way Se Concord, NC 4
    • 3 beds 3 baths ∙ 1,702 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,702 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
  • 4006 Amsbury Road Concord, NC 1
    • 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 1965
    LEASED 06/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.70
    •  
  • 1622 Wild Turkey Way Concord, NC 2
    • 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2005
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.75
    •  
  • 1737 Red Bird Circle Concord, NC 3
    • 3 beds 3 baths ∙ 1,416 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,416 Sqft ∙ Built 2005
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.91
    •  
PROPERTY LISTING DETAILS
Brenda Cline
1.704.305.2716
Re/max Executive
BESbswy