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19822 Sandyedge Drive Cornelius, NC 28031

4 Beds 3 Baths 2,777 sqft Built 1999

$429,900

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $154.81
  • 19 Days on Market
  • MLS # : 3693280
  • Updated Date : 01/09/2021 at 12:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,777 sqft
  • Baths : 2 full , 1 half
Listing Agent

Puma & Associates Realty, Inc.

Listing Agent's Description

Must see home in Sawyers Landing! Great curb appeal w/ pristinely manicured yard & mature trees. Sought after open floor plan w/ owner’s suite on main! 2 story foyer w/ tons of natural light, wood floors & designer lighting. Living room w/ vaulted ceiling. Formal dining room w/ crown molding, wainscoting & tray ceiling. Kitchen w/ granite counters, center island, stainless steel appliances, tile backsplash, pantry & sunny breakfast area! 2 story great room w/ gas log fireplace. Elegant owner's retreat w/ tray ceiling & custom walk in closet. En-suite bath w/ dual vanity, quartz counters, towel warmer & gorgeous tile shower. Spacious secondary bedrooms, bathroom & bonus complete 2nd floor! Peaceful & private backyard w/ custom outdoor kitchen, large deck w/ pergola & relaxing waterfall feature! Enjoy community features including outdoor pool, kayak storage, picnic area & access to Lake Norman! Close to schools, restaurants & shopping! Minutes to Birkdale Village! Easy access to I-77.

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: 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
 

$386,910$472,890$429,900

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,493
Property Tax -$317
Property Insurance -$79
HOA -$49
Property Management Fees -$119
CASH FLOW
$343

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.

$429,900

PROJECTED PRICE

$2,400

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,674

INVESTMENT

$119,674

Down Payment
$107,475
Rehab Estimate
$5,750
Closing Costs
$6,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,493

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,475
Loan Amount $322,425
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$60,663

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,680

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4003$2,6504$2,7505$2,900
$2,900
RENT COMPS ANALYSIS
  • 19822 Sandyedge Drive Cornelius, NC 2
    • 4 beds 3 baths ∙ 2,777 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,777 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.86
    •  
  • 19709 Outermark Lane Cornelius, NC 1
    • 5 beds 3 baths ∙ 3,035 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,035 Sqft ∙ Built 2000
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.76
    •  
  • 19701 Valiant Way Cornelius, NC 3
    • 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 1997
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.96
    •  
  • 20309 Northport Drive Cornelius, NC 4
    • 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 2001
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.13
    •  
  • 21502 Rio Oro Drive Cornelius, NC 5
    • 4 beds 4 baths ∙ 2,753 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,753 Sqft ∙ Built 2004
    LEASED 08/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.05
    •  
PROPERTY LISTING DETAILS
Phil Puma
1.704.290.4612
Puma & Associates Realty, Inc.
BESbswy