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196 Poplar Woods Drive Concord, NC 28027

5 Beds 3 Baths 2,843 sqft Built 1999

$359,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $126.28
  • 3 Days on Market
  • MLS # : 3712547
  • Updated Date : 02/27/2021 at 15:46
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,843 sqft
  • Baths : 3 full
Listing Agent

R Canter

Listing Agent's Description

If you are looking for house that looks brand new yet exits in a well-established neighborhood: Welcome Home! 1owner 5 BEDROOMS 3 FULL BATHROOMS w/ALL new paint, flooring, appliances, fixtures & large tile master shower. Oversized living spaces & storage everywhere! True perfection in Poplar Woods! This home offers a functional and impressive floor plan with no shortage of natural light! Added amenities you will not be able to overlook include: sink in huge laundry room, extremely lrg extra bathroom upstairs w/double sinks & extra vanity in addition to Master bath, 2 story foyer, expansive great room w/cozy gas fireplace, & high ceilings on both levels. The Main level has a guest room which could also function as an office/fitness room & has adjacent full bath. The formal dining room and living rooms are generously sized and perfect for entertaining! The upstairs has a split floor plan. The back yard is completely fenced in. Quick access to 85, 485, restaurants, parks, and shopping!

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

Neighborhood: Poplar Woods

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Poplar Woods

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8401809

* 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
W R Odell Elementary School Primary Regular 882 52 NA
Harris Road Middle School Middle Regular 1,185 63 9
Cox Mill High School High Regular 1,478 76 7

W R Odell Elementary School

  • Education Level: Primary
  • # of students: 882
  • # of teachers: 52
NA
GreatSchools Rating

Harris Road Middle School

  • Education Level: Middle
  • # of students: 1,185
  • # of teachers: 63
9
GreatSchools Rating

Cox Mill High School

  • Education Level: High
  • # of students: 1,478
  • # of teachers: 76
7
GreatSchools Rating
 

$323,100$394,900$359,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,247
Property Tax -$271
Property Insurance -$81
Property Management Fees -$119
CASH FLOW
$342

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.

$359,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.8%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,247

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$57,167

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,205

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,045
1$2,0452$2,0603$2,2004$2,2005$2,495
$2,495
RENT COMPS ANALYSIS
  • 196 Poplar Woods Drive Concord, NC 2
    • 5 beds 3 baths ∙ 2,845 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,845 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.72
    •  
  • 9423 Pepperidge Avenue Concord, NC 1
    • 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 2004
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $0.75
    •  
  • 336 Sutro Forest Drive Concord, NC 3
    • 5 beds 3 baths ∙ 2,900 Sqft ∙ Built 2011 5 beds 3 baths ∙ 2,900 Sqft ∙ Built 2011
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.76
    •  
  • 180 Poplar Woods Drive Concord, NC 4
    • 4 beds 3 baths ∙ 2,777 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,777 Sqft ∙ Built 2000
    LEASED 01/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.79
    •  
  • 8353 Bampton Drive Concord, NC 5
    • 5 beds 3 baths ∙ 3,106 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,106 Sqft ∙ Built 2000
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.80
    •  
PROPERTY LISTING DETAILS
Richard Canter
1.980.621.6059
R Canter
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3712547
Last Updated: 02/27/2021
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