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1749 Conifer Circle Charlotte, NC 28213

3 Beds 2 Baths 1,450 sqft Built 2000

$217,900

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $150.28
  • 3 Days on Market
  • MLS # : 3690727
  • Updated Date : 12/12/2020 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,450 sqft
  • Baths : 2 full
Listing Agent

Allen Tate Lake Norman

Listing Agent's Description

Enjoy coziness and character in this beautiful ranch home with bonus room in bustling University area. This home is directly across the street from a picturesque pond with gazebo that you can enjoy all year long. The very private fenced in backyard is perfect for hosting outdoor events. Freshly painted and landscaped, this 3 bedroom, 2 bath, ranch home will be gone before you know it!. Just a short drive to grocery stores, restaurants, and shopping with easy access to 485 without the noise of it. Come see this gem of a home in a fantastic location!

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: Newell

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $108k235k

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

Neighborhood: Newell

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8261518

* 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
University Meadows Elementary School Primary Regular 657 45 4
James Martin Middle School Middle Regular 1,113 54 3
Vance High School High Regular 1,714 91 3

University Meadows Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 45
4
GreatSchools Rating

James Martin Middle School

  • Education Level: Middle
  • # of students: 1,113
  • # of teachers: 54
3
GreatSchools Rating

Vance High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 91
3
GreatSchools Rating
 

$196,110$239,690$217,900

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$804
Property Tax -$190
Property Insurance -$54
HOA -$18
Property Management Fees -$119
CASH FLOW
$134

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$217,900

PROJECTED PRICE

$1,320

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,494

INVESTMENT

$63,494

Down Payment
$54,475
Rehab Estimate
$5,750
Closing Costs
$3,269

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$804

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,475
Loan Amount $163,425
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$27,374

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,229

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,320
1$1,3202$1,3253$1,3454$1,3705$1,450
$1,450
RENT COMPS ANALYSIS
  • 1749 Conifer Circle Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.91
    •  
  • 9228 Ligon Court Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,568 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,568 Sqft ∙ Built 1994
    property image
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.85
    •  
  • 9645 Melanie Thompson Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,548 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,548 Sqft ∙ Built 1995
    property image
    LEASED 12/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.87
    •  
  • 9735 Hanberry Boulevard Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2008
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.81
    •  
  • 1947 Forest Side Lane Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 1999
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
PROPERTY LISTING DETAILS
Jeanette Galliher
1.704.608.1082
Allen Tate Lake Norman
BESbswy