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2014 Starbrook Drive Charlotte, NC 28210

5 Beds 3 Baths 1,219 sqft Built 1962

$454,900

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $373.17
  • 16 Days on Market
  • MLS # : 3708384
  • Updated Date : 02/27/2021 at 00:28
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,219 sqft
  • Baths : 3 full
Listing Agent

Wilkinson Era Real Estate

Listing Agent's Description

Updated Full Brick Ranch with a walk out private basement with two bedrooms a full bath and a fireplace in the Popular Revitilized Starmount Community. Granite Countertops subway tile backsplash modernized Cabintry with counterspace for cooking and entertaining. Refinished Hardwood floors, new carpets and freshly painted throughout. Relax on the huge open deck just off the kitchen overlooking the well groomed private back Yard.Huge Carport around back plus parking spaces for addtional 3plus vehicles & More.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Starmount Forest

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $62k235k

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

Neighborhood: Starmount Forest

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
Starmount Academy Of Excellence Primary Regular NA
Carmel Middle School Middle Regular 1,050 58 7
South Mecklenburg High School High Regular 2,913 147 7

Starmount Academy Of Excellence

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

Carmel Middle School

  • Education Level: Middle
  • # of students: 1,050
  • # of teachers: 58
7
GreatSchools Rating

South Mecklenburg High School

  • Education Level: High
  • # of students: 2,913
  • # of teachers: 147
7
GreatSchools Rating
 

$409,410$500,390$454,900

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,580
Property Tax -$397
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
-$196

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.

$454,900

PROJECTED PRICE

$1,950

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.7%
Maintenance Year (1-5) 8.00%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$126,299

INVESTMENT

$126,299

Down Payment
$113,725
Rehab Estimate
$5,750
Closing Costs
$6,824

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,580

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $113,725
Loan Amount $341,175
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$11,324

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $1.6

    LIST RENT PER SQFT
  • $1,524

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,950
$1,950
RENT COMPS ANALYSIS
  • 2014 Starbrook Drive Charlotte, NC 2
    • 5 beds 3 baths ∙ 1,219 Sqft ∙ Built 1962 5 beds 3 baths ∙ 1,219 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.60
    •  
  • 3800 Champaign Street Charlotte, NC 1
    • 4 beds 2 baths ∙ 1,480 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,480 Sqft ∙ Built 1963
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.25
    •  
PROPERTY LISTING DETAILS
Natalie Gibbons
1.704.957.5393
Wilkinson Era Real Estate
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3708384
Last Updated: 02/27/2021
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