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PROPERTY INFO
FACTS
- Single Family
- Built In 2006
- Price/Sqft : $158.01
- 5 Days on Market
- MLS # : 3711603
- Updated Date : 02/27/2021 at 08:20
CONSTRUCTION
- Beds : 3
- Floor Size : 1,329 sqft
- Baths : 2 full
Listing Agent
The David Hoffman Group Inc
Listing Agent's Description
This cutie is ready for her next family to give her the star treatment! A little TLC and she'll be ready to go! Awesome 3 bed/2 bath open floor plan. Split floor plan with a master bedroom that features a vaulted ceiling and double windows that let in lots of natural light. The laundry room offers lots of extra space for storage, organization, etc. The hall bathroom features a tiled, roll-in shower. The large kitchen has lots of cabinet and counter space, a pantry for storage, and overlooks the family room. Both the kitchen and family room have vaulted ceilings as well. Convenient to Charlotte airport, Whitewater Center, lots of shopping/dining, and I-485 in Northwest Charlotte. Showings begin 2/27. Don't let this one slip away!
SEE MORE
- 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: Coulwood West
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Coulwood West
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,240 |
| EXPENSES | Loan Payment | -$729 |
| Property Tax | -$183 | |
| Property Insurance | -$52 | |
| HOA | -$23 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$134
|
||
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.
$210,000
PROJECTED PRICE
$1,240
PROJECTED RENT
0.59%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 8.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$61,400
LOAN DETAILS
$729
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $52,500 |
| Loan Amount | $157,500 |
8.25
YEARS SAVED
$22,552
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,240
LIST RENT -
$0.93
LIST RENT PER SQFT
-
$1,236
COMP ESTIMATED VALUE -
$0.93
COMP AVG. RENT PER SQFT
Comps Range
-
2036 Sonoma Valley Drive Charlotte, NC 1
- 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 2006
![property image]()
- Rent
- Rent Per SQFT
- $1,240
- $0.93
-
1708 Silverberry Court Charlotte, NC 2
- 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1996
![property image]()
LEASED 01/14/21- Rent
- Rent Per SQFT
- $1,250
- $0.99
-
1606 Oak Knoll Lane Charlotte, NC 3
- 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 1996
![property image]()
LEASED 11/14/19- Rent
- Rent Per SQFT
- $1,349
- $0.83
-
128 Woodlynn Drive Charlotte, NC 4
- 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1959
![property image]()
LEASED 12/09/20- Rent
- Rent Per SQFT
- $1,395
- $0.96
-
9337 Turning Wheel Drive Charlotte, NC 5
- 3 beds 3 baths ∙ 1,612 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,612 Sqft ∙ Built 2012
![property image]()
LEASED 02/12/20- Rent
- Rent Per SQFT
- $1,432
- $0.89
PROPERTY LISTING DETAILS
1.803.984.5861
The David Hoffman Group Inc
MLS #: 3711603
Last Updated: 02/27/2021
