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17117 Carolina Pine Row #210 Gaines Tudor Charlotte, NC 28278

6 Beds 4 Baths 2,689 sqft Built 2021

$492,281

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
February 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $183.07
  • 7 Days on Market
  • MLS # : 3711032
  • Updated Date : 02/22/2021 at 13:11
CONSTRUCTION
  • Beds : 6
  • Floor Size : 2,689 sqft
  • Baths : 4 full
Listing Agent

Mattamy Carolina Corporation

Listing Agent's Description

Gaines Tudor basement plan. This home includes 6 spacious bedroom and 4 full baths and flex room plus finished basement. Upgrading flooring throughout, oversize island ,granite countertops, stainless steel appliances with upgraded cabinets, tiled master shower. Tons of upgrades. Close to Charlotte Douglas Airport, Uptown Charlotte and Fort Mill. Low Taxes.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$443,053$541,509$492,281

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,710
Property Tax -$406
Property Insurance -$78
HOA -$73
Property Management Fees -$119
CASH FLOW
-$96

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.

$492,281

PROJECTED PRICE

$2,290

PROJECTED RENT

0.47%

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$1.6M

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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,454

INVESTMENT

$132,454

Down Payment
$123,070
Rehab Estimate
$2,000
Closing Costs
$7,384

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,710

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $123,070
Loan Amount $369,211
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$21,578

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,218

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,2453$2,2904$2,4005$2,475
$2,475
RENT COMPS ANALYSIS
  • 17117 Carolina Pine Row Charlotte, NC 3
    • 6 beds 4 baths ∙ 2,689 Sqft ∙ Built 2020 6 beds 4 baths ∙ 2,689 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.85
    •  
  • 10322 Winyah Bay Lane Charlotte, NC 1
    • 5 beds 4 baths ∙ 2,668 Sqft ∙ Built 2019 5 beds 4 baths ∙ 2,668 Sqft ∙ Built 2019
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.77
    •  
  • 8708 Sagekirk Court Charlotte, NC 2
    • 5 beds 3 baths ∙ 2,675 Sqft ∙ Built 2010 5 beds 3 baths ∙ 2,675 Sqft ∙ Built 2010
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,245
    • $0.84
    •  
  • 15014 Cordelia Drive Charlotte, NC 4
    • 5 beds 3 baths ∙ 2,914 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,914 Sqft ∙ Built 2020
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.82
    •  
  • 16514 Emerald Dunes Drive Charlotte, NC 5
    • 5 beds 4 baths ∙ 2,830 Sqft ∙ Built 2019 5 beds 4 baths ∙ 2,830 Sqft ∙ Built 2019
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,475
    • $0.87
    •  
PROPERTY LISTING DETAILS
John George
1.704.309.6173
Mattamy Carolina Corporation
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3711032
Last Updated: 02/22/2021
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