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PROPERTY INFO
FACTS
- Single Family
- Built In 2021
- Price/Sqft : $106.35
- 2 Days on Market
- MLS # : 3687139
- Updated Date : 11/28/2020 at 20:00
CONSTRUCTION
- Beds : 5
- Floor Size : 2,454 sqft
- Baths : 3 full
Listing Agent
Dr Horton Inc
Listing Agent's Description
This home offers a formal dining area that flows to the kitchen with granite counter tops and Stainless Steel appliances including microwave, dishwasher, electric stove. A floor bathroom on the main and a secondary 5th bedroom on the main. Upstairs is a large Master bedroom that offers a Cathedral ceiling with a large walk-in closet . A total of 5 bedrooms in this home . Laundry room up.
SEE MORE
- 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: Spencer Mountain Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Spencer Mountain Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,710 |
| EXPENSES | Loan Payment | -$963 |
| Property Tax | -$170 | |
| Property Insurance | -$73 | |
| HOA | -$43 | |
| Property Management Fees | -$154 | |
|
CASH FLOW
$308
|
||
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.
$260,990
PROJECTED PRICE
$1,710
PROJECTED RENT
0.66%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.94% |
| Appreciation Year (1-5) | -1.4% |
| Maintenance Year (1-5) | 3.00% |
| Vacancy | 6.02% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$71,162
LOAN DETAILS
$963
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $65,248 |
| Loan Amount | $195,743 |
11.08
YEARS SAVED
$53,090
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,710
LIST RENT -
$0.7
LIST RENT PER SQFT
-
$1,685
COMP ESTIMATED VALUE -
$0.69
COMP AVG. RENT PER SQFT
Comps Range
-
1730 Gaston Mountain Drive Dallas, NC 3
- 5 beds 3 baths ∙ 2,454 Sqft ∙ Built 2021 5 beds 3 baths ∙ 2,454 Sqft ∙ Built 2021
![property image]()
- Rent
- Rent Per SQFT
- $1,710
- $0.70
-
2936 Village Center Drive Dallas, NC 1
- 4 beds 3 baths ∙ 2,231 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,231 Sqft ∙ Built 2010
![property image]()
LEASED 04/07/20- Rent
- Rent Per SQFT
- $1,445
- $0.65
-
2830 Thomas Twig Drive Dallas, NC 2
- 5 beds 3 baths ∙ 2,495 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,495 Sqft ∙ Built 2018
![property image]()
LEASED 02/22/20- Rent
- Rent Per SQFT
- $1,625
- $0.65
-
1930 Eastway Drive Dallas, NC 4
- 5 beds 3 baths ∙ 2,517 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,517 Sqft ∙ Built 2016
![property image]()
LEASED 11/24/20- Rent
- Rent Per SQFT
- $1,925
- $0.76
PROPERTY LISTING DETAILS
1.704.253.0051
Dr Horton Inc
