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PROPERTY INFO
FACTS
- Single Family
- Built In 2014
- Price/Sqft : $108.93
- 3 Days on Market
- MLS # : 3705647
- Updated Date : 02/06/2021 at 00:05
CONSTRUCTION
- Beds : 4
- Floor Size : 2,644 sqft
- Baths : 2 full , 1 half
Listing Agent
Re/max Executive
Listing Agent's Description
Beautiful home with Open Floor plan thats perfect for Entertaining! Large kitchen features center island and tons of cabinets for storage. Separate Shower and Tub in Large Master Suite. Upstairs Loft is a great flex space that can be used for an office, play area, etc. Spacious Drop Zone just as you enter from Garage, great for keeping things organized. Patio for Outdoor Entertaining or Relaxing. Backs up to wooded area for privacy. Short drive to Restaurants, Shopping, Whitewater Center and Airport.
SEE MORE
- 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: 28120
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28120
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,620 |
| EXPENSES | Loan Payment | -$1,000 |
| Property Tax | -$233 | |
| Property Insurance | -$77 | |
| HOA | -$25 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$166
|
||
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.
$288,000
PROJECTED PRICE
$1,620
PROJECTED RENT
0.56%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 5.1% |
| 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
$82,070
LOAN DETAILS
$1,000
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $72,000 |
| Loan Amount | $216,000 |
7.92
YEARS SAVED
$29,600
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,620
LIST RENT -
$0.61
LIST RENT PER SQFT
-
$1,586
COMP ESTIMATED VALUE -
$0.6
COMP AVG. RENT PER SQFT
Comps Range
-
2100 Lake Vista Drive Mount Holly, NC 2
- 4 beds 3 baths ∙ 2,644 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,644 Sqft ∙ Built 2014
- Rent
- Rent Per SQFT
- $1,620
- $0.61
-
2124 Lake Vista Drive Mount Holly, NC 1
- 4 beds 3 baths ∙ 2,428 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,428 Sqft ∙ Built 2011
LEASED 11/08/19- Rent
- Rent Per SQFT
- $1,450
- $0.60
PROPERTY LISTING DETAILS
1.803.984.3703
Re/max Executive
