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1950 Dunhill Drive Charlotte, NC 28205

3 Beds 3 Baths 1,744 sqft Built 1997

$499,000

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $286.12
  • 6 Days on Market
  • MLS # : 3704398
  • Updated Date : 02/06/2021 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,744 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dickens Mitchener & Associates Inc

Listing Agent's Description

Bright and beautiful, this Move-In ready Midwood home has it all! Attached 2 Car Garage, gorgeous corner lot with lush landscaping, large screened pergola, grand owner’s suite, and updated kitchen – all accessible to the conveniences in trendy Midwood! Updated kitchen features granite counters, stainless steel appliances, newer refrigerator, and gas range. Charming living area features gas logs, vaulted ceilings, and an abundance of natural light. Spacious screened porch is perfect for entertaining. Upstairs features a large owner’s suite with tray ceilings, new marble vanity with dual sinks, walk in closet, and new shower doors. Updates galore including new Hardwood floors upstairs, and new Roof and HVAC in 2017.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Plaza Midwood

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $116k441k

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

Neighborhood: Plaza Midwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900200021002200Rent in $8442238

* 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
Shamrock Gardens Elementary School Primary Regular 446 33 6
Eastway Middle School Middle Regular 932 55 2
Garinger High School High Unknown NA

Shamrock Gardens Elementary School

  • Education Level: Primary
  • # of students: 446
  • # of teachers: 33
6
GreatSchools Rating

Eastway Middle School

  • Education Level: Middle
  • # of students: 932
  • # of teachers: 55
2
GreatSchools Rating

Garinger High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$449,100$548,900$499,000

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,733
Property Tax -$466
Property Insurance -$60
HOA -$13
Property Management Fees -$119
CASH FLOW
-$150

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.

$499,000

PROJECTED PRICE

$2,240

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$18,378

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $2,232

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$2,2003$2,2404$2,4505$2,500
$2,500
RENT COMPS ANALYSIS
  • 1950 Dunhill Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,744 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,744 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $1.28
    •  
  • 1634 Chatham Avenue Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 1949
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.13
    •  
  • 2400 Shenandoah Avenue Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 1955 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 1955
    LEASED 01/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.23
    •  
  • 2406 Shenandoah Avenue Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1946 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1946
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.32
    •  
  • 1931 Dearmon Drive Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,732 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,732 Sqft ∙ Built 1998
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.44
    •  
PROPERTY LISTING DETAILS
Andrea Roether
1.980.307.3262
Dickens Mitchener & Associates Inc
BESbswy