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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Cornelius
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$131,625
LOAN DETAILS
$1,650
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $118,750 |
| Loan Amount | $356,250 |
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
-
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
1.704.363.1668
Exp Realty Llc
