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2020 Newton Drive 
Concord, NC
28027
3 Beds 3 Baths 1,512 sqft
Built 1986
INVESTimate
$274,900
List Price
$78,599
REQUEST INFO
SCHEDULE APPOINTMENT
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PROPERTY INFO
FACTS
- Built In 1986
- Price/Sqft : $181.81
- 2 Days on Market
- MLS # : 3655330
- Updated Date : 08/25/2020 at 14:10
CONSTRUCTION
- Beds : 3
- Floor Size : 1,512 sqft
- Baths : 2 full , 1 half
Listing Agent
Allen Tate Concord
Listing Agent's Description
This hidden gem is a "must see'! Located at the end of road, features a brick ranch basement on 1.03 acre lot w/ 2 car garage & 2 car detached workshops. Updated kitchen features granite tile countertops, tile backsplash and stainless appliances. GR w. FP, Hardwoods, Rec Room w. FP in basement- CONVENIENT LOCATION. Call today for appointment. Great curb appeal.
SEE MORE
- 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: 28027
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28027
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,370 |
| EXPENSES | Loan Payment | -$1,014 |
| Property Tax | -$233 | |
| Property Insurance | -$56 | |
| Property Management Fees | -$123 | |
|
CASH FLOW
-$57
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.
$274,900
PROJECTED PRICE
$1,370
PROJECTED RENT
0.50%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 5.27% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$78,599
LOAN DETAILS
$1,014
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $68,725 |
| Loan Amount | $206,175 |
3.33
YEARS SAVED
$9,292
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,370
LIST RENT -
$0.91
LIST RENT PER SQFT
-
$1,361
COMP ESTIMATED VALUE -
$0.9
COMP AVG. RENT PER SQFT
Comps Range
-
2020 Newton Drive Concord, NC 4
- 3 beds 3 baths ∙ 1,512 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,512 Sqft ∙ Built 1986
![property image]()
- Rent
- Rent Per SQFT
- $1,370
- $0.91
-
4058 Leafmore Street Concord, NC 1
- 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 1981
![property image]()
LEASED 04/13/20- Rent
- Rent Per SQFT
- $1,249
- $0.82
-
1175 Tufton Place Nw Concord, NC 2
- 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1997
![property image]()
LEASED 07/08/20- Rent
- Rent Per SQFT
- $1,300
- $0.98
-
1171 Tufton Place Concord, NC 3
- 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1997
![property image]()
LEASED 02/21/20- Rent
- Rent Per SQFT
- $1,325
- $0.90
PROPERTY LISTING DETAILS
1.704.721.7130
Allen Tate Concord
