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1836 Allegheny Drive Gastonia, NC 28054

3 Beds 3 Baths 1,443 sqft Built 2017

$230,000

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $159.39
  • 7 Days on Market
  • MLS # : 3711204
  • Updated Date : 02/25/2021 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,443 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams South Park

Listing Agent's Description

Welcome to your new home located in sought after Mountain View neighborhood! This beautiful home is move in ready. Abundant natural light and space makes this the prefect fit for your family. This home has an open floor plan, beautiful chef ready kitchen with granite counter and bar tops! Neighnorhood playgrounds and walking trails make this a popular family friendly neighborhood. Just minutes from shopping and I-85 and 23 minutes from Charlotte airport. This home won't last long, schedule your appointment today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 28054

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k213k

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

Zip Code: 28054

ZipNIR Market*CityMarket2010Year20002019 Q270075080085090095010001050110011501200125013001350Rent in $6771375

* 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
Brookside Elementary School Primary Regular 551 34 4
Holbrook Middle School Middle Regular 731 40 6
North Gaston High School High Regular 1,095 60 3

Brookside Elementary School

  • Education Level: Primary
  • # of students: 551
  • # of teachers: 34
4
GreatSchools Rating

Holbrook Middle School

  • Education Level: Middle
  • # of students: 731
  • # of teachers: 40
6
GreatSchools Rating

North Gaston High School

  • Education Level: High
  • # of students: 1,095
  • # of teachers: 60
3
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$799
Property Tax -$177
Property Insurance -$54
HOA -$25
Property Management Fees -$119
CASH FLOW
$86

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.

$230,000

PROJECTED PRICE

$1,260

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
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

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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$19,975

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,252

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,260
1$1,2602$1,2653$1,2994$1,3415$1,450
$1,450
RENT COMPS ANALYSIS
  • 1836 Allegheny Drive Gastonia, NC 1
    • 3 beds 3 baths ∙ 1,443 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,443 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.87
    •  
  • 1828 Allegheny Drive Gastonia, NC 2
    • 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 2017
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,265
    • $0.84
    •  
  • 3097 Teton Drive Gastonia, NC 3
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 2004
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.79
    •  
  • 1348 Waylon Avenue Gastonia, NC 4
    • 3 beds 3 baths ∙ 1,441 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,441 Sqft ∙ Built 2018
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,341
    • $0.93
    •  
  • 4500 Stone Mountain Drive Gastonia, NC 5
    • 3 beds 3 baths ∙ 1,594 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,594 Sqft ∙ Built 2008
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
PROPERTY LISTING DETAILS
Shayla Shell
1.336.276.4032
Keller Williams South Park
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3711204
Last Updated: 02/25/2021
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