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2007 Navarro Road Charlotte, NC 28214

5 Beds 3 Baths 2,454 sqft Built 2021

$321,390

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $130.97
  • 2 Days on Market
  • MLS # : 3699331
  • Updated Date : 01/16/2021 at 11:41
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,454 sqft
  • Baths : 3 full
Listing Agent

Dr Horton Inc

Listing Agent's Description

The popular Charleston plan features a guest suite w/ full bath on the main level. A huge master suite w/ spacious closet upstairs along with 3 other bedrooms. The main floor has 9' ceilings, kitchen features 36" cabinets w/ granite countertops, tile backsplash, laminate flooring, iron spindles up the stairs! This home is an incredible value with all the benefits of new construction and a 10 yr. Home Warranty! Belmeade Crossing is a brand new community in Charlotte near the Whitewater Center!

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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: Moores Chapel

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Moores Chapel

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771518

* 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
Whitewater Academy Primary Unknown 756 45 NA
Whitewater Middle School Middle Regular 924 53 5
West Mecklenburg High School High Regular 2,040 108 1

Whitewater Academy

  • Education Level: Primary
  • # of students: 756
  • # of teachers: 45
NA
GreatSchools Rating

Whitewater Middle School

  • Education Level: Middle
  • # of students: 924
  • # of teachers: 53
5
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating
 

$289,251$353,529$321,390

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,116
Property Tax -$299
Property Insurance -$73
HOA -$42
Property Management Fees -$119
CASH FLOW
$181

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$321,390

PROJECTED PRICE

$1,830

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 3.00%
Vacancy 6.02%
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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$87,168

INVESTMENT

$87,168

Down Payment
$80,348
Rehab Estimate
$2,000
Closing Costs
$4,821

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,116

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,348
Loan Amount $241,043
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$36,431

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,767

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5853$1,6504$1,7455$1,830
$1,830
RENT COMPS ANALYSIS
  • 2007 Navarro Road Charlotte, NC 5
    • 5 beds 3 baths ∙ 2,454 Sqft ∙ Built 2021 5 beds 3 baths ∙ 2,454 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.75
    •  
  • 711 Pawley Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2001
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.68
    •  
  • 9648 Turning Wheel Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 2007
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $0.75
    •  
  • 2444 Sonoma Valley Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2007
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.72
    •  
  • 1244 San Gabriel Avenue Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2016
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.73
    •  
PROPERTY LISTING DETAILS
Haley Courtright
1.704.661.2747
Dr Horton Inc
BESbswy