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17042 Alydar Commons Lane Charlotte, NC 28278

5 Beds 4 Baths 3,011 sqft Built 2014

$374,900

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $124.51
  • 9 Days on Market
  • MLS # : 3685238
  • Updated Date : 11/27/2020 at 13:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,011 sqft
  • Baths : 3 full , 1 half
Listing Agent

Mark Spain Real Estate

Listing Agent's Description

This is the one you waited for, but hurry. Do you want open floor plan, exceptionally appointed and maintained, new flooring throughout, large island kitchen with gas cooktop and double wall ovens? If you answered yes, then you need to walk through this home, you will see elegant custom touches around every corner. From custom paint colors to, to upgraded bathroom finishes and fixtures, to the custom textured walls you will only find here, this is home! This property is on one of the premier lots in Southern Trace, homesite backs to a wooded reserve for added privacy. She was designed for entertaining, from the open floor plan, to the screened deck and a custom hidden patio for the perfect summer entertaining or relaxing getaway.

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
 

$337,410$412,390$374,900

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,383
Property Tax -$366
Property Insurance -$84
HOA -$69
Property Management Fees -$204
CASH FLOW
$164

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.

$374,900

PROJECTED PRICE

$2,270

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

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$105,099

INVESTMENT

$105,099

Down Payment
$93,725
Rehab Estimate
$5,750
Closing Costs
$5,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,383

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,725
Loan Amount $281,175
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$37,043

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,213

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0453$2,2004$2,2705$2,295
$2,295
RENT COMPS ANALYSIS
  • 17042 Alydar Commons Lane Charlotte, NC 4
    • 5 beds 4 baths ∙ 3,011 Sqft ∙ Built 2014 5 beds 4 baths ∙ 3,011 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.75
    •  
  • 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
    •  
  • 17029 Belmont Stakes Lane Charlotte, NC 2
    • 5 beds 4 baths ∙ 3,115 Sqft ∙ Built 2015 5 beds 4 baths ∙ 3,115 Sqft ∙ Built 2015
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $0.66
    •  
  • 9555 Spurwig Court Charlotte, NC 3
    • 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2008 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2008
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.73
    •  
  • 9540 Spurwig Court Charlotte, NC 5
    • 5 beds 3 baths ∙ 2,862 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,862 Sqft ∙ Built 2018
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.80
    •  
PROPERTY LISTING DETAILS
Rachel Alles
1.855.299.7653
Mark Spain Real Estate
BESbswy