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16919 Alydar Commons Lane Charlotte, NC 28278

5 Beds 6 Baths 4,122 sqft Built 2015

$499,999

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $121.30
  • 7 Days on Market
  • MLS # : 3701824
  • Updated Date : 01/30/2021 at 20:11
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,122 sqft
  • Baths : 5 full , 1 half
Listing Agent

Weichert Realtors Sally Awad Group

Listing Agent's Description

Come see this pleasant brick home with an open floor plan and resort like backyard. This 3-story, 5-bedroom, 5-bathroom home has a 3-car garage—giving you 4,122 sq. ft. of spacious elegance, wood floors throughout main floor, and a modern gourmet kitchen with granite countertops makes entertaining a joy. Imagine cuddling up to a cozy fireplace with a good book. Tree lined backyard. All of this situated in a convenient, friendly neighborhood very close to shopping and restaurants, only twenty minutes from Uptown Charlotte.

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
 

$449,999$549,999$499,999

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$1,737
Property Tax -$452
Property Insurance -$105
HOA -$69
Property Management Fees -$119
CASH FLOW
$269

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.

$499,999

PROJECTED PRICE

$2,750

PROJECTED RENT

0.55%

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$1.8M

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $374,999
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$55,087

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,750

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $3,112

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7503$5,000
$5,000
RENT COMPS ANALYSIS
  • 16919 Alydar Commons Lane Charlotte, NC 2
    • 5 beds 6 baths ∙ 4,122 Sqft ∙ Built 2015 5 beds 6 baths ∙ 4,122 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.67
    •  
  • 15404 Oleander Drive Charlotte, NC 1
    • 5 beds 5 baths ∙ 4,069 Sqft ∙ Built 2015 5 beds 5 baths ∙ 4,069 Sqft ∙ Built 2015
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.66
    •  
  • 14027 Grand Traverse Drive Charlotte, NC 3
    • 6 beds 4 baths ∙ 4,120 Sqft ∙ Built 2006 6 beds 4 baths ∙ 4,120 Sqft ∙ Built 2006
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,000
    • $1.21
    •  
PROPERTY LISTING DETAILS
Sally Awad
1.704.680.8689
Weichert Realtors Sally Awad Group
BESbswy