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1816 Conifer Circle #L16 Charlotte, NC 28213

4 Beds 3 Baths 2,895 sqft Built 2000

$276,500

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $95.51
  • 2 Days on Market
  • MLS # : 3683371
  • Updated Date : 11/21/2020 at 19:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,895 sqft
  • Baths : 3 full
Listing Agent

Gwen Roberts Realty

Listing Agent's Description

Your Dream Home on the Lake .This is a MUST SEE. Move in ready. Freshly painted, new carpet. 4 bedrooms & 3 full bathrooms. Master bedroom with walk in closet on main level. 2nd Master bedroom with walk-in closet and ceiling fan on upper level. Living Room with wood burning fireplace & ceiling fan, Formal Dinning Rm with Lake view. Lakeview in Eat in Kitchen with stainless steel appliances. Refrigerator, smooth top self cleaning electric stove, microwave over stove, dishwasher, garbage disposal. Separate thermostats for upper and lower levels.

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
 

$248,850$304,150$276,500

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,020
Property Tax -$243
Property Insurance -$82
HOA -$19
Property Management Fees -$149
CASH FLOW
$146

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.

$276,500

PROJECTED PRICE

$1,660

PROJECTED RENT

0.60%

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$200k$400k$600k$800k$1.0M

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$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,023

INVESTMENT

$79,023

Down Payment
$69,125
Rehab Estimate
$5,750
Closing Costs
$4,148

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,020

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,125
Loan Amount $207,375
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$26,782

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.57

    LIST RENT PER SQFT
  • $1,788

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5953$1,6604$1,7455$1,795
$1,795
RENT COMPS ANALYSIS
  • 1816 Conifer Circle Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,895 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,895 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.57
    •  
  • 2117 Speedwell Court Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,808 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,808 Sqft ∙ Built 2002
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.53
    •  
  • 2308 Katherine Kiker Road Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,866 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,866 Sqft ∙ Built 1989
    property image
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.56
    •  
  • 10730 Dapple Grey Lane Charlotte, NC 4
    • 3 beds 2 baths ∙ 2,576 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,576 Sqft ∙ Built 2007
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.68
    •  
  • 10221 Snowbell Court Charlotte, NC 5
    • 3 beds 3 baths ∙ 2,622 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,622 Sqft ∙ Built 2015
    property image
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.68
    •  
PROPERTY LISTING DETAILS
Gwen Roberts
1.704.488.2345
Gwen Roberts Realty
BESbswy