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2012 Arbor Vista Drive Charlotte, NC 28262

4 Beds 3 Baths 2,602 sqft Built 2005

$305,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $117.22
  • 2 Days on Market
  • MLS # : 3715775
  • Updated Date : 03/13/2021 at 22:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,602 sqft
  • Baths : 2 full , 1 half
Listing Agent

Guardian Estate Brokers

Listing Agent's Description

Spectacular home located in the University City area of Charlotte, in sought after Arbor Hills neighborhood. This well-maintained two-story home features a high ceiling when you enter the home and large windows capturing lots of natural light. Features a formal dining area, living room with fireplace, office, and an open kitchen w/island. Also tray ceiling in the formal dining room. Total of 4 bedrooms, includes a spacious Owners suite with tray ceiling, ceiling fan, private toilet, shower and garden tub and double sinks, large mirror, and a spacious walk-in-closet. Backyard has a patio with extended brick and 2 live pear trees. Backyard is spacious and great for enjoying outside activities, BBQ's, and family gatherings. New roof in 2016. Home is within walking distance to Starbucks, Trader Joes, and several eateries and local businesses. A short drive to I-85 and I-485 - A quick 6-minute drive to Concord Mills Shopping mall and restaurants galore.

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: Mallard Creek - Withrow Downs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Mallard Creek - Withrow Downs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Mallard Creek Elementary School Primary Regular 803 46 3
Ridge Road Middle School Middle Regular 1,285 65 6
Mallard Creek High School High Regular 2,472 123 6

Mallard Creek Elementary School

  • Education Level: Primary
  • # of students: 803
  • # of teachers: 46
3
GreatSchools Rating

Ridge Road Middle School

  • Education Level: Middle
  • # of students: 1,285
  • # of teachers: 65
6
GreatSchools Rating

Mallard Creek High School

  • Education Level: High
  • # of students: 2,472
  • # of teachers: 123
6
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,059
Property Tax -$285
Property Insurance -$76
HOA -$52
Property Management Fees -$119
CASH FLOW
$259

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.

$305,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.6%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$42,961

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,867

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,7504$1,7995$1,850
$1,850
RENT COMPS ANALYSIS
  • 2012 Arbor Vista Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,602 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,602 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.71
    •  
  • 11119 Cypress View Drive Charlotte, NC 1
    • 5 beds 3 baths ∙ 2,382 Sqft ∙ Built 5 beds 3 baths ∙ 2,382 Sqft ∙ Built
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.71
    •  
  • 1926 Arbor Crest Court Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,417 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,417 Sqft ∙ Built 2005
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.72
    •  
  • 3021 Azalea Hills Drive Charlotte, NC 3
    • 5 beds 3 baths ∙ 2,434 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,434 Sqft ∙ Built 2004
    LEASED 02/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.72
    •  
  • 1934 Arbor Crest Court Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2005
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.72
    •  
PROPERTY LISTING DETAILS
John William Simmons
1.917.769.4120
Guardian Estate Brokers
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3715775
Last Updated: 03/13/2021
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