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1724 Windyrush Lane Gastonia, NC 28054

5 Beds 4 Baths 2,541 sqft Built 1979

$318,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $125.15
  • 5 Days on Market
  • MLS # : 3677574
  • Updated Date : 10/30/2020 at 13:48
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,541 sqft
  • Baths : 4 full
Listing Agent

Henderson Realty

Listing Agent's Description

You Will Love This Fantastic Home Great For Entertaining Family & Friends With An Amazing Back Porch Area, Overlooking A Huge Inviting Inground Pool and Gazebo. A True Oasis! The kitchen is bright & open with loads of cabinets, plus a pantry closet, almost new kitchen fixtures, disposal, sink, SS dishwasher & electric range. SS Refrigerator Included! New range hood is on order & scheduled to arrive November 5th, Corian counter tops, center island and breakfast area. Large great room with a gas log fireplace. Plus, a formal dining room, office / flex room. Main level primary bedroom with a gorgeous tray ceiling. His and her walk-in closets. The primary bath has an exceptional bamboo design glass entry door, oversized whirlpool tub, transom windows, double sink vanity and recessed cabinets. Other Home Features: Plantation Shutters! Raised Garden Area. Newer Tankless Gas Hot Water Heater. Numerous Perennials. Patio furniture available upon request. Wonderful Location! Welcome Home!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: East Gastonia

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k213k

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

Neighborhood: East Gastonia

ZipNIR Market*CityMarket2010Year20002019 Q270075080085090095010001050110011501200125013001350Rent in $6771375

* 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
Sherwood Elementary School Primary Regular 659 38 4
Grier Middle School Middle Regular 679 38 6
Ashbrook High School High Regular 1,436 89 4

Sherwood Elementary School

  • Education Level: Primary
  • # of students: 659
  • # of teachers: 38
4
GreatSchools Rating

Grier Middle School

  • Education Level: Middle
  • # of students: 679
  • # of teachers: 38
6
GreatSchools Rating

Ashbrook High School

  • Education Level: High
  • # of students: 1,436
  • # of teachers: 89
4
GreatSchools Rating
 

$286,200$349,800$318,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,173
Property Tax -$257
Property Insurance -$75
Property Management Fees -$168
CASH FLOW
$196

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.

$318,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,020

INVESTMENT

$90,020

Down Payment
$79,500
Rehab Estimate
$5,750
Closing Costs
$4,770

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,173

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,500
Loan Amount $238,500
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$36,430

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,779

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7253$1,8704$1,895
$1,895
RENT COMPS ANALYSIS
  • 1724 Windyrush Lane Gastonia, NC 3
    • 5 beds 4 baths ∙ 2,541 Sqft ∙ Built 1979 5 beds 4 baths ∙ 2,541 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.74
    •  
  • 808 Willow Creek Drive Gastonia, NC 1
    • 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 4 beds 3 baths ∙ 2,733 Sqft ∙ Built
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.58
    •  
  • 1027 Bent Branch Street Gastonia, NC 2
    • 4 beds 3 baths ∙ 2,675 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,675 Sqft ∙ Built 2007
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.64
    •  
  • 2513 Holly Oak Lane Gastonia, NC 4
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2006
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.86
    •  
PROPERTY LISTING DETAILS
Brian Henderson
1.704.860.2886
Henderson Realty
BESbswy