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204 St Johns Street Arden, NC 28704

3 Beds 2 Baths 1,707 sqft Built 1964

$365,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $213.83
  • MLS # : CAR3755177
  • Updated Date : 07/13/2021 at 02:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,707 sqft
  • Baths : 2 full
Listing Agent

Lantern Realty & Development Llc

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

Zip Code: 28704

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $106k290k

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

Zip Code: 28704

ZipNIR Market*CityMarket2015Year2011 Q42019 Q2110011501200125013001350140014501500155016001650Rent in $10541679

* 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
Glen Arden Elementary School Primary Regular 475 32 5

Glen Arden Elementary School

  • Education Level: Primary
  • # of students: 475
  • # of teachers: 32
5
GreatSchools Rating
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,268
Property Tax -$184
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$320

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$365,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.20%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

9.92

YEARS SAVED

$53,253

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,083

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7253$2,300
$2,300
RENT COMPS ANALYSIS
  • 204 St Johns Street Arden, NC 1
    • 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 84 New Rockwood Road Arden, NC 2
    • 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1966
    LEASED 05/31/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.23
    •  
  • 166 Mount Royal Drive Arden, NC 3
    • 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 1998
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.21
    •  
PROPERTY LISTING DETAILS
Kathy Gurney
1.828.279.7053
Lantern Realty & Development Llc
BESbswy