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1822 Swan Drive Charlotte, NC 282165

3 Beds 3 Baths 2,052 sqft Built 2014

$270,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $131.58
  • 4 Days on Market
  • MLS # : 3681847
  • Updated Date : 11/13/2020 at 12:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,052 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Executive

Listing Agent's Description

Showings begin SATURDAY Nov 14th. Immaculately maintained & the original owner. WELCOME Home! Convenient access to I-485 & HWY 16 & just minutes from dining & shopping. You'll love being greeted by the double front porch, 2nd story of the porch is perfect for an after work cocktail. The kitchen has granite counter tops, an island, gas cooktop & is open to the den for entertaining family & friends. The laundry room is located on the 2nd floor for convenient access to all bedrooms.

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: Mountain Island

No Data Available.

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

Neighborhood: Mountain Island

No Data Available.

* 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
Mountain Island Lake Academy Primary Regular 727 47 3
West Mecklenburg High School High Regular 2,040 108 1

Mountain Island Lake Academy

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 47
3
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$996
Property Tax -$235
Property Insurance -$66
HOA -$29
Property Management Fees -$130
CASH FLOW
-$16

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.

$270,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$10,155

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,483

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,440
1$1,4402$1,4503$1,4504$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 1822 Swan Drive Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,052 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,052 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.70
    •  
  • 3609 Joel Turner Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,092 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,092 Sqft ∙ Built 2002
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.69
    •  
  • 2435 Summer Meadow Court Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,070 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,070 Sqft ∙ Built 2002
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.70
    •  
  • 2626 Gingham Street Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 2019
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.77
    •  
  • 2320 Waters Trail Drive Charlotte, NC 5
    • 3 beds 3 baths ∙ 2,273 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,273 Sqft ∙ Built 2001
    LEASED 07/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.73
    •  
PROPERTY LISTING DETAILS
Greg Asbury
1.704.307.8866
Re/max Executive
BESbswy