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PROPERTY INFO
FACTS
- Single Family
- Built In 1990
- Price/Sqft : $157.86
- 3 Days on Market
- MLS # : No MLS Number
CONSTRUCTION
- Beds : 3
- Floor Size : 1,552 sqft
- Baths : 2 full
Listing Agent
Tobin
Listing Agent's Description
AVAILABLE NOW! No HOA! Ranch home with desirable split BR floor plan! Great neighborhood in Cornelius--Wellsley Village. This country home has 1550 s.f., 3 BRs, 2.5 baths and an inviting front covered porch. Great floor plan includes a beautiful gas log fireplace and floor to ceiling brick hearth in the living room, a dining room with room to expand for guests, and a kitchen with stainless steel appliances. Fantastic back yard has a spacious 2-tiered perfect for relaxing or entertaining. Any NC Realtor is welcome to show! Pets are case by case basis
SEE MORE
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- 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: Westmoreland
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Westmoreland
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,365 |
| EXPENSES | Loan Payment | -$851 |
| Property Tax | -$208 | |
| Property Insurance | -$56 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$130
|
||
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.
$245,000
PROJECTED PRICE
$1,365
PROJECTED RENT
0.56%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 4.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$70,675
LOAN DETAILS
$851
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $61,250 |
| Loan Amount | $183,750 |
8.42
YEARS SAVED
$27,466
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
YOUR SOLUTIONS MANAGER
Please Contact Your Solutions Manager
To review the detailed price and rent comps for this property and answer any questions you may have.
PROPERTY LISTING DETAILS
Tobin
