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17446 Chaco Lane #PL 22 Charlotte, NC 28278

5 Beds 4 Baths 3,314 sqft Built 2021

$464,578

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $140.19
  • 3 Days on Market
  • MLS # : 3690791
  • Updated Date : 12/11/2020 at 16:29
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,314 sqft
  • Baths : 3 full , 1 half
Listing Agent

Lennar Sales Corp

Listing Agent's Description

THE PALISADES…1500 acres in an Environmentally-Protected Master Planned Community adjacent to Lake Wylie; Private Residents Club featuring swimming pools, a fitness center, tot lot, sport courts and much more. The very spacious Davidson Plan in the Lanterns neighborhood offers 3 levels of comfortable living space. First floor you relax with family and friends in an open-concept Kitchen, Breakfast Room and Family Room with a corner fireplace; A Formal Dining Room, Private Study and Power Room round out the main living area.. Second level host the Large Owner’s Suite, 3 additional beds, a bath with double vanity, a Loft and Laundry Room. For a little more space and privacy, the third level gives you an extra bed and bath along with a Bonus/Loft. Make sure to see this Home.

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
 

$418,120$511,036$464,578

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,714
Property Tax -$383
Property Insurance -$90
HOA -$88
Property Management Fees -$119
CASH FLOW
$106

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.

$464,578

PROJECTED PRICE

$2,500

PROJECTED RENT

0.54%

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$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,113

INVESTMENT

$125,113

Down Payment
$116,145
Rehab Estimate
$2,000
Closing Costs
$6,969

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,714

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,145
Loan Amount $348,434
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$46,152

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,494

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2903$2,5004$2,7005$2,900
$2,900
RENT COMPS ANALYSIS
  • 17446 Chaco Lane Charlotte, NC 3
    • 5 beds 4 baths ∙ 3,314 Sqft ∙ Built 2021 5 beds 4 baths ∙ 3,314 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.75
    •  
  • 9555 Spurwig Court Charlotte, NC 1
    • 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2008 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2008
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.73
    •  
  • 18029 Kalabash Road Charlotte, NC 2
    • 6 beds 5 baths ∙ 3,568 Sqft ∙ Built 2019 6 beds 5 baths ∙ 3,568 Sqft ∙ Built 2019
    property image
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.64
    •  
  • 13620 Glen Abbey Drive Charlotte, NC 4
    • 5 beds 4 baths ∙ 3,255 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,255 Sqft ∙ Built 2006
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.83
    •  
  • 17004 Turtle Point Road Charlotte, NC 5
    • 5 beds 4 baths ∙ 3,574 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,574 Sqft ∙ Built 2006
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.81
    •  
PROPERTY LISTING DETAILS
Linda Mclendon
1.980.402.2397
Lennar Sales Corp
BESbswy