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PROPERTY INFO
FACTS
- Single Family
- Built In 2006
- Price/Sqft : $164.73
- 5 Days on Market
- MLS # : 3709750
- Updated Date : 02/20/2021 at 07:30
CONSTRUCTION
- Beds : 5
- Floor Size : 3,005 sqft
- Baths : 3 full , 1 half
Listing Agent
Coldwell Banker Realty
Listing Agent's Description
This well detailed home has been freshly painted both interior and exterior. Located in the desirable Weatherstone Manor community. Two-story foyer welcomes you into this well-appointed home with hardwood floors on most of the main level. Gourmet Kitchen features granite countertops, stainless appliances, large cooking island, plus double wall ovens for a true foodie. Adjacent breakfast area with doors leading to the covered patio then onto a huge deck and private backyard. Additional there a large side yard. Large Great Room with architectural features, gas log fireplace. Spacious Master-On-The Main with a Luxurious master Bath with dual sinks vanity with granite counter tops, separate shower and jacuzzi tub, huge walk in closet and tiled floors. Upper level has three bedrooms and a secondary Master Suite, two full bathrooms with brand new quartz counter tops. The garage has been painted and brand new epoxy flooring . The community offers a pool, clubhouse, tennis courts, playground.
SEE MORE
- 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
* 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 | $2,300 |
| EXPENSES | Loan Payment | -$1,719 |
| Property Tax | -$365 | |
| Property Insurance | -$85 | |
| HOA | -$77 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$66
|
||
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.
$495,000
PROJECTED PRICE
$2,300
PROJECTED RENT
0.46%
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
$136,925
LOAN DETAILS
$1,719
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $123,750 |
| Loan Amount | $371,250 |
4.83
YEARS SAVED
$24,495
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,300
LIST RENT -
$0.75
LIST RENT PER SQFT
-
$2,490
COMP ESTIMATED VALUE -
$0.81
COMP AVG. RENT PER SQFT
Comps Range
-
20125 Coachmans Wood Lane Cornelius, NC 2
- 5 beds 4 baths ∙ 3,084 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,084 Sqft ∙ Built 2006
- Rent
- Rent Per SQFT
- $2,300
- $0.75
-
10502 Quarrier Drive Cornelius, NC 1
- 4 beds 4 baths ∙ 3,030 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,030 Sqft ∙ Built 2001
LEASED 04/10/20- Rent
- Rent Per SQFT
- $2,150
- $0.71
-
18724 Coachmans Trace Cornelius, NC 3
- 5 beds 4 baths ∙ 3,182 Sqft ∙ Built 2003 5 beds 4 baths ∙ 3,182 Sqft ∙ Built 2003
LEASED 06/05/20- Rent
- Rent Per SQFT
- $2,350
- $0.74
-
8923 Magnolia Estates Drive Cornelius, NC 4
- 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 1996
LEASED 08/15/20- Rent
- Rent Per SQFT
- $2,500
- $0.91
-
18615 The Commons Boulevard Cornelius, NC 5
- 4 beds 4 baths ∙ 3,051 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,051 Sqft ∙ Built 2003
LEASED 07/06/20- Rent
- Rent Per SQFT
- $2,750
- $0.90
PROPERTY LISTING DETAILS
1.704.200.6810
Coldwell Banker Realty
MLS #: 3709750
Last Updated: 02/20/2021
