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2019 Navarro Road Charlotte, NC 28214

4 Beds 3 Baths 2,644 sqft Built 2021

$328,540

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $124.26
  • 2 Days on Market
  • MLS # : 3699348
  • Updated Date : 01/16/2021 at 12:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,644 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dr Horton Inc

Listing Agent's Description

An office and dining room greet your entry from the front door. A large family room is open to the breakfast and kitchen area with granite countertops, tile backsplash and LED lights. 9' ceilings on the first floor, upstairs there are 4 bedroom including a large owners suite, an open loft is perfect for bonus or media room. Belmeade Crossing conveniently located off Moores Chapel Rd Exit 12 on I-485 near Whitewater Center, Uptown Charlotte, airport, University area etc. This home is an incredible value with all the benefits of new construction and a 10 yr. Home Warranty! Home Is Connected? includes programmable thermostat, Z-Wave door lock and wireless switch, touchscreen control device, automation platform, video doorbell, and Amazon Echo and Echo Dot. All home features are subject to change without notice. Internet service not included.

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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
 

$295,686$361,394$328,540

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,141
Property Tax -$305
Property Insurance -$77
HOA -$42
Property Management Fees -$119
CASH FLOW
-$124

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.

$328,540

PROJECTED PRICE

$1,560

PROJECTED RENT

0.47%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$89,063

INVESTMENT

$89,063

Down Payment
$82,135
Rehab Estimate
$2,000
Closing Costs
$4,928

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,141

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,135
Loan Amount $246,405
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$8,558

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.59

    LIST RENT PER SQFT
  • $1,553

    COMP ESTIMATED VALUE
  • $0.59

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,5253$1,5604$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 2019 Navarro Road Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,644 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,644 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.59
    •  
  • 10917 Ridge Acres Road Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,355 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,355 Sqft ∙ Built 1989
    property image
    LEASED 10/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.59
    •  
  • 10738 Pointer Ridge Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,636 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,636 Sqft ∙ Built 2005
    property image
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.58
    •  
  • 2334 Sonoma Valley Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,840 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,840 Sqft ∙ Built 2007
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.56
    •  
  • 11640 Tribal Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 2014
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.59
    •  
PROPERTY LISTING DETAILS
Meka Martin
1.704.706.4227
Dr Horton Inc
BESbswy