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1912 Montclair Avenue Gastonia, NC 28054

4 Beds 4 Baths 2,193 sqft Built 1966

$264,900

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $120.79
  • 9 Days on Market
  • MLS # : 3693661
  • Updated Date : 01/01/2021 at 08:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,193 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Premier

Listing Agent's Description

Location! Location! Location! Beautiful home in Harper Estates! Kitchen opens to the dining area and features white raised panel cabinets, granite counters, hardwoods, and island with downdraft cooktop. Completing the main level is a large living room with lots of natural light. The lower level features the master suite with full bath and dual vanity. The lower level also includes a mudroom, laundry area, and family room with hardwood floors and a cozy fireplace plumbed for natural gas. Upper level features a mother-in-law suite and two secondary bedrooms that share a full bath. Other amenities include newer zoned HVAC complete with a natural air cleaning filtration system, new crawlspace dehumidification system, screened porch, large patio, treehouse, and a fenced yard that provides plenty of space for play or quiet enjoyment. Centrally located within Gastonia near shopping, dining and just minutes from Charlotte!! Don’t miss out on this one… a MUST SEE!

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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

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
Gardner Park Elementary School Primary Regular 668 36 5
Grier Middle School Middle Regular 679 38 6
Ashbrook High School High Regular 1,436 89 4

Gardner Park Elementary School

  • Education Level: Primary
  • # of students: 668
  • # of teachers: 36
5
GreatSchools Rating

Grier Middle School

  • Education Level: Middle
  • # of students: 679
  • # of teachers: 38
6
GreatSchools Rating

Ashbrook High School

  • Education Level: High
  • # of students: 1,436
  • # of teachers: 89
4
GreatSchools Rating
 

$238,410$291,390$264,900

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$977
Property Tax -$220
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$216

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.

$264,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.60%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,949

INVESTMENT

$75,949

Down Payment
$66,225
Rehab Estimate
$5,750
Closing Costs
$3,974

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$977

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,225
Loan Amount $198,675
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$41,098

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,542

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,349
1$1,3492$1,3953$1,4504$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 1912 Montclair Avenue Gastonia, NC 5
    • 4 beds 4 baths ∙ 2,179 Sqft ∙ Built 1966 4 beds 4 baths ∙ 2,179 Sqft ∙ Built 1966
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.73
    •  
  • 1013 Willow Wind Drive Gastonia, NC 1
    • 3 beds 3 baths ∙ 1,947 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,947 Sqft ∙ Built 2008
    property image
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.69
    •  
  • 937 Willow Wind Drive Gastonia, NC 2
    • 3 beds 3 baths ∙ 1,960 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,960 Sqft ∙ Built 2007
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.71
    •  
  • 508 Dunham Road Gastonia, NC 3
    • 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 1954 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 1954
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.71
    •  
  • 1011 Bent Branch Street Gastonia, NC 4
    • 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 2007
    property image
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.72
    •  
PROPERTY LISTING DETAILS
Jose Sanchez
1.980.285.8093
Keller Williams Premier
BESbswy