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2036 Sonoma Valley Drive Charlotte, NC 28214

3 Beds 2 Baths 1,329 sqft Built 2006

$210,000

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
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

MARKET HIGHLIGHTS

  • 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

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $104k235k

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

Neighborhood: Coulwood West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350140014501500Rent in $7871518

* 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
River Oaks Academy Primary Regular 611 36 5
Coulwood Middle School Middle Regular 694 45 7
West Mecklenburg High School High Regular 2,040 108 1

River Oaks Academy

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 36
5
GreatSchools Rating

Coulwood Middle School

  • Education Level: Middle
  • # of students: 694
  • # of teachers: 45
7
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

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
$1,240
1$1,2402$1,2503$1,3494$1,3955$1,432
$1,432
RENT COMPS ANALYSIS
  • 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
Stephanie Walters
1.803.984.5861
The David Hoffman Group Inc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3711603
Last Updated: 02/27/2021
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