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2030 Donegal Court Gastonia, NC 28054

3 Beds 2 Baths 2,271 sqft Built 1983

$287,300

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $126.51
  • 5 Days on Market
  • MLS # : 3689613
  • Updated Date : 12/09/2020 at 22:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,271 sqft
  • Baths : 2 full
Listing Agent

Keller Williams South Park

Listing Agent's Description

Imagine living in a stunning 2 story home that features 3 bedrooms and 2 baths in the sought after neighborhood of Shannon Subdivision. This home takes pride in its astounding floor and elegant walls that welcome you upon entry. It has an open floor layout that offers a spacious living space that opens up to a well-lit dining area and a well-equipped kitchen accentuated with lots of storage. You'll also see a lovely primary bedroom that will sweep you off your feet after a long tiring day. Also, find the two additional 2 bedrooms with a shared bath available to accommodate guests. The home also takes pride in its covered wooden deck that is perfect for early morning coffees and chilly nights. Don't wait! Come schedule your tour now!

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: 28054

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k213k

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

Zip Code: 28054

ZipNIR Market*CityMarket2010Year20002019 Q270075080085090095010001050110011501200125013001350Rent in $6771375

* 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
Robinson Elementary School Primary Regular 362 22 6
Grier Middle School Middle Regular 679 38 6
Ashbrook High School High Regular 1,436 89 4

Robinson Elementary School

  • Education Level: Primary
  • # of students: 362
  • # of teachers: 22
6
GreatSchools Rating

Grier Middle School

  • Education Level: Middle
  • # of students: 679
  • # of teachers: 38
6
GreatSchools Rating

Ashbrook High School

  • Education Level: High
  • # of students: 1,436
  • # of teachers: 89
4
GreatSchools Rating
 

$258,570$316,030$287,300

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 -$1,060
Property Tax -$238
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
$73

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.

$287,300

PROJECTED PRICE

$1,560

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 6.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$81,885

INVESTMENT

$81,885

Down Payment
$71,825
Rehab Estimate
$5,750
Closing Costs
$4,310

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,060

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,825
Loan Amount $215,475
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$26,353

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
  • $0.69

    LIST RENT PER SQFT
  • $1,629

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,349
1$1,3492$1,3953$1,4854$1,5505$1,560
$1,560
RENT COMPS ANALYSIS
  • 2030 Donegal Court Gastonia, NC 5
    • 3 beds 2 baths ∙ 2,271 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,271 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.69
    •  
  • 1013 Willow Wind Drive Gastonia, NC 1
    • 3 beds 3 baths ∙ 1,947 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,947 Sqft ∙ Built 2008
    property image
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.69
    •  
  • 937 Willow Wind Drive Gastonia, NC 2
    • 3 beds 3 baths ∙ 1,960 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,960 Sqft ∙ Built 2007
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.71
    •  
  • 1027 Black Oak Drive Gastonia, NC 3
    • 3 beds 3 baths ∙ 1,971 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,971 Sqft ∙ Built 2009
    property image
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,485
    • $0.75
    •  
  • 1011 Bent Branch Street Gastonia, NC 4
    • 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 2007
    property image
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.72
    •  
PROPERTY LISTING DETAILS
Trent Corbin
1.704.628.4066
Keller Williams South Park
BESbswy