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2013 Orby Avenue Indian Trail, NC 28079

5 Beds 3 Baths 3,061 sqft Built 2010

INVESTimate

$380,000

List Price

$1,870

$1,683 - $2,057

Rent Est.

$404,092  ( +6.34%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2010
  • Price/Sqft : $124.14
  • 7 Days on Market
  • MLS # : 3650529
  • Updated Date : 08/25/2020 at 07:42
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,061 sqft
  • Baths : 3 full
Listing Agent

Berkshire Hathaway Homeservices Carolinas Realty

Listing Agent's Description

THIS ONE WON'T LAST! Charming 5 Bedroom Stunner set on a Private Cul-de-sac in Desirable Sheridan! This All-Brick 3,000+ Square Foot Home is set on the Best Lot in the Neighborhood---at the end of a cul-de-sac with No Neighbors to One Side!!! Amazing Flat Lot w/Fenced Yard, 3 Car Garage, Upgraded Landscaping, Large Patio w/ Firepit + Swingset that Conveys to the New Owners! The Dream Interior includes an Open Floor Plan, Guest Suite w/ Full Bath on Main Level, New LVP Flooring on Main Level, Beautiful Kitchen w/ White Cabinets, Large Walk-n Pantry, Formal Dining Room, Neutral Paint & Large Family Room w/ Gas Fireplace. The 2nd Level features a HUGE Master Suite, Spacious Loft, 3 Additional Spacious Bedrooms & a Conveniently Located Laundry Room w/ New LVP Flooring. This Home Boasts Plenty of Natural Light and a Functional Floor Plan. The Open Floorplan and the Fenced, Flat Backyard & Patio make this Home the Perfect Place for Entertaining Family & Friends! Welcome Home.

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

Zip Code: 28079

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Zip Code: 28079

ZipNIR 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
Sun Valley Elementary School Primary Regular 695 45 9
Sun Valley Middle School Middle Regular 1,365 69 6
Sun Valley High School High Regular 1,306 76 7

Sun Valley Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 45
9
GreatSchools Rating

Sun Valley Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 69
6
GreatSchools Rating

Sun Valley High School

  • Education Level: High
  • # of students: 1,306
  • # of teachers: 76
7
GreatSchools Rating
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,402
Property Tax -$248
Property Insurance -$85
HOA -$42
Property Management Fees -$168
CASH FLOW
-$76

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.

$380,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.34%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$16,538

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $1,931

    COMP ESTIMATED VALUE
  • $0.63

    COMP AVG. RENT PER SQFT
Comps Range
$1,870
1$1,8702$1,8953$1,8954$1,9455$1,950
$1,950
RENT COMPS ANALYSIS
  • 2013 Orby Avenue Indian Trail, NC 1
    • 5 beds 3 baths ∙ 3,090 Sqft ∙ Built 2010 5 beds 3 baths ∙ 3,090 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.61
    •  
  • 4018 Magna Lane Indian Trail, NC 2
    • 5 beds 3 baths ∙ 3,050 Sqft ∙ Built 2004 5 beds 3 baths ∙ 3,050 Sqft ∙ Built 2004
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.62
    •  
  • 1030 Coulwood Lane Indian Trail, NC 3
    • 4 beds 3 baths ∙ 3,159 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,159 Sqft ∙ Built 2007
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.60
    •  
  • 1015 Taylor Glen Lane Indian Trail, NC 4
    • 5 beds 4 baths ∙ 3,027 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,027 Sqft ∙ Built 2001
    property image
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.64
    •  
  • 1010 Semmes Lane Indian Trail, NC 5
    • 4 beds 3 baths ∙ 3,056 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,056 Sqft ∙ Built 2006
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.64
    •  
PROPERTY LISTING DETAILS
Scott Sofsian
1.704.737.9090
Berkshire Hathaway Homeservices Carolinas Realty
BESbswy