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209 General Stonewall Jackson Drive Stanley, NC 28164

3 Beds 2 Baths 1,244 sqft Built 1961

$209,900

List Price

$1,160

$1K - $1.3K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $168.73
  • 5 Days on Market
  • MLS # : 3693506
  • Updated Date : 12/23/2020 at 14:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,244 sqft
  • Baths : 1 full , 1 half
Listing Agent

Bottom Line Real Estate

Listing Agent's Description

Desirable Jackson Park area in Stanley. Great neighborhood with no HOA fees. Brick ranch 3 bedrooms 1.5 bathrooms with a carport. Very well kept home with a wood burning fireplace. Hardwood floors throughout the home except kitchen and bathroom areas. Outdoor deck with fenced backyard. Outdoor storage building (12 X 16) with electricity. Refrigerator, washer and dryer are negotiable. Priced to sell! Open for showings after Christmas day, starting Saturday 12/26. Don't miss this fantastic home!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 28164

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210kPrice in $113k213k

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

Zip Code: 28164

ZipNIR Market*CityMarket2010Year20002019 Q275080085090095010001050110011501200125013001350Rent in $7221375

* 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
Kiser Elementary School Primary Regular 443 22 3
Stanley Middle School Middle Regular 485 30 7
East Gaston High School High Regular 1,122 67 5

Kiser Elementary School

  • Education Level: Primary
  • # of students: 443
  • # of teachers: 22
3
GreatSchools Rating

Stanley Middle School

  • Education Level: Middle
  • # of students: 485
  • # of teachers: 30
7
GreatSchools Rating

East Gaston High School

  • Education Level: High
  • # of students: 1,122
  • # of teachers: 67
5
GreatSchools Rating
 

$188,910$230,890$209,900

PURCHASE PRICE

$1,044$1,276$1,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,160
EXPENSES Loan Payment -$774
Property Tax -$179
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
$37

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.

$209,900

PROJECTED PRICE

$1,160

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 4.3%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,374

INVESTMENT

$61,374

Down Payment
$52,475
Rehab Estimate
$5,750
Closing Costs
$3,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$774

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,475
Loan Amount $157,425
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$17,289

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,160

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,107

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$800
1$8002$8953$9754$1,1605$1,475
$1,475
RENT COMPS ANALYSIS
  • 209 General Stonewall Jackson Drive Stanley, NC 4
    • 3 beds 2 baths ∙ 1,244 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,244 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $1,160
    • $0.93
    •  
  • 613 Summerow Road Stanley, NC 1
    • 3 beds 1 baths ∙ 1,040 Sqft ∙ Built 1964 3 beds 1 baths ∙ 1,040 Sqft ∙ Built 1964
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $800
    • $0.77
    •  
  • 603 Ralph Handsel Boulevard Stanley, NC 2
    • 3 beds 2 baths ∙ 1,050 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,050 Sqft ∙ Built 1980
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $895
    • $0.85
    •  
  • 307 E Parkwood Street Stanley, NC 3
    • 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1964 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1964
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $975
    • $0.98
    •  
  • 400 Bennington Drive Stanley, NC 5
    • 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 2003
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.95
    •  
PROPERTY LISTING DETAILS
Chris Anderson
1.704.743.7163
Bottom Line Real Estate
BESbswy