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20605 Autumn Breeze Court Cornelius, NC 28031

4 Beds 3 Baths 2,577 sqft Built 1999

$485,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $188.20
  • 6 Days on Market
  • MLS # : 3702311
  • Updated Date : 01/28/2021 at 11:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,577 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Cornelius one-story cul-de-sac home offers a two-car garage. This home is vacant and cleaned regularly.

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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

Neighborhood: Cornelius

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Cornelius

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8441960

* 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
Bailey Middle School Middle Regular 1,616 77 9
William Amos Hough High School High Regular 2,453 120 8
Bailey Middle School Middle Unknown NA

Bailey Middle School

  • Education Level: Middle
  • # of students: 1,616
  • # of teachers: 77
9
GreatSchools Rating

William Amos Hough High School

  • Education Level: High
  • # of students: 2,453
  • # of teachers: 120
8
GreatSchools Rating

Bailey Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$436,500$533,500$485,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,685
Property Tax -$422
Property Insurance -$76
HOA -$17
Property Management Fees -$119
CASH FLOW
$12

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.

$485,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.48%

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$1.0M$1.2M$1.4M$1.6M

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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,685

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$30,441

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,042

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,999
1$1,9992$2,0003$2,0004$2,3005$2,330
$2,330
RENT COMPS ANALYSIS
  • 20605 Autumn Breeze Court Cornelius, NC 5
    • 4 beds 3 baths ∙ 2,577 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,577 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.90
    •  
  • 20329 Berry Circle Cornelius, NC 1
    • 3 beds 3 baths ∙ 2,606 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,606 Sqft ∙ Built 1996
    property image
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.77
    •  
  • 20264 Harroway Drive Cornelius, NC 2
    • 3 beds 3 baths ∙ 2,535 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,535 Sqft ∙ Built 2015
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.79
    •  
  • 20111 Washam Street Cornelius, NC 3
    • 4 beds 3 baths ∙ 2,641 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,641 Sqft ∙ Built 2004
    property image
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.76
    •  
  • 203 South Street Davidson, NC 4
    • 4 beds 3 baths ∙ 2,808 Sqft ∙ Built 1926 4 beds 3 baths ∙ 2,808 Sqft ∙ Built 1926
    property image
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.82
    •  
PROPERTY LISTING DETAILS
Verria Hairston
1.704.751.0133
Opendoor Brokerage Llc
BESbswy