Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

19733 Beneteau Court Cornelius, NC 28031

4 Beds 3 Baths 3,400 sqft Built 1995

$475,000

List Price

$2,640

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $139.71
  • 7 Days on Market
  • MLS # : 3701343
  • Updated Date : 01/30/2021 at 14:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,400 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Beautiful home in highly desirable Blue Stone Harbor features 4 bdrms plus a loft/media room upstairs and an office/study/flex room on main level. The fabulous upgraded kitchen has new custom cabinets, white quartz counters & new slate appliances that match the range hood perfectly. The comfortable great room offers an open concept with fireplace & access to the rear deck. The nicely landscaped back yard is fenced and has plenty of room for relaxing, entertaining or play. Other upgrades include upstairs Jack and Jill bath, smooth ceilings (no more popcorn), flooring on main level, light fixtures and ceiling fans. The neighborhood has outstanding amenities such as lake access, boat ramp, pool, clubhouse & tennis courts. Conveniently located off Catawba Ave within minutes of restaurants, banks, shopping and parks yet still nestled in one of the quiet coves on the lake. Seller will include Home Warranty and carpet allowance with acceptable offer.

SEE MORE

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

Neighborhood: Cornelius

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Cornelius

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8441960

* 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
Cornelius Elementary School Primary Regular 589 31 8
Bailey Middle School Middle Regular 1,616 77 9
William Amos Hough High School High Regular 2,453 120 8

Cornelius Elementary School

  • Education Level: Primary
  • # of students: 589
  • # of teachers: 31
8
GreatSchools Rating

Bailey Middle School

  • Education Level: Middle
  • # of students: 1,616
  • # of teachers: 77
9
GreatSchools Rating

William Amos Hough High School

  • Education Level: High
  • # of students: 2,453
  • # of teachers: 120
8
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$1,650
Property Tax -$396
Property Insurance -$91
HOA -$75
Property Management Fees -$119
CASH FLOW
$309

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.

$475,000

PROJECTED PRICE

$2,640

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.2%
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$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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$58,317

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,640

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,873

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,640
1$2,6402$2,6953$2,7004$2,7505$2,850
$2,850
RENT COMPS ANALYSIS
  • 19733 Beneteau Court Cornelius, NC 1
    • 4 beds 3 baths ∙ 3,400 Sqft ∙ Built 1995 4 beds 3 baths ∙ 3,400 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,640
    • $0.78
    •  
  • 19730 Charles Towne Lane Cornelius, NC 2
    • 4 beds 3 baths ∙ 3,275 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,275 Sqft ∙ Built 2002
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.82
    •  
  • 20222 Hammock Oak Drive Cornelius, NC 3
    • 5 beds 4 baths ∙ 3,160 Sqft ∙ Built 2000 5 beds 4 baths ∙ 3,160 Sqft ∙ Built 2000
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.85
    •  
  • 21221 Harken Drive Cornelius, NC 4
    • 4 beds 3 baths ∙ 3,254 Sqft ∙ Built 1994 4 beds 3 baths ∙ 3,254 Sqft ∙ Built 1994
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.85
    •  
  • 20304 Cathedral Oaks Drive Cornelius, NC 5
    • 5 beds 4 baths ∙ 3,298 Sqft ∙ Built 2000 5 beds 4 baths ∙ 3,298 Sqft ∙ Built 2000
    LEASED 09/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.86
    •  
PROPERTY LISTING DETAILS
Nancy Lewis
1.704.363.1668
Exp Realty Llc
BESbswy