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2022 Bridleside Drive Indian Trail, NC 28079

3 Beds 3 Baths 2,116 sqft Built 2006

$289,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2006
  • Price/Sqft : $136.58
  • 9 Days on Market
  • MLS # : 3676332
  • Updated Date : 10/30/2020 at 15:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,116 sqft
  • Baths : 2 full , 1 half
Listing Agent

J Fletcher Realty

Listing Agent's Description

Welcome to Brandon Oaks, sought after community in Indian Trail. Neighborhood features clubhouse, pools, tennis courts, playground, and pond. Convenient to shopping and dining. Enjoy this well kept 2 story, 3 bedrooms home. Featureing a HUGE fenced-in backyard, one of the biggest in the neighborhood. The main level features an open floor plan with a living room that extends into a cozy "Florida Room" that could be used as a flex room.

SEE MORE

MARKET HIGHLIGHTS

  • 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: Brandon Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Brandon Oaks

NeighborhoodNIR 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
 

$260,100$317,900$289,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,066
Property Tax -$189
Property Insurance -$67
Property Management Fees -$136
CASH FLOW
$52

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.

$289,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$22,811

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,582

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,510
1$1,5102$1,5953$1,6504$1,6505$1,795
$1,795
RENT COMPS ANALYSIS
  • 2022 Bridleside Drive Indian Trail, NC 1
    • 3 beds 3 baths ∙ 2,116 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,116 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.71
    •  
  • 1032 Fountainbrook Drive Indian Trail, NC 2
    • 3 beds 3 baths ∙ 2,251 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,251 Sqft ∙ Built 2006
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.71
    •  
  • 1019 Canopy Drive Indian Trail, NC 3
    • 3 beds 3 baths ∙ 2,254 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,254 Sqft ∙ Built 2006
    LEASED 05/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.73
    •  
  • 1011 Fountainbrook Drive Indian Trail, NC 4
    • 3 beds 2 baths ∙ 2,108 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,108 Sqft ∙ Built 2005
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.78
    •  
  • 2213 Shumard Circle Indian Trail, NC 5
    • 4 beds 3 baths ∙ 2,390 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,390 Sqft ∙ Built 2001
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.75
    •  
PROPERTY LISTING DETAILS
Jerry Fletcher
1.704.804.3550
J Fletcher Realty
BESbswy