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PROPERTY INFO
FACTS
- Single Family
- Built In 1963
- Price/Sqft : $177.81
- 89 Days on Market
- MLS # : 3672939
- Updated Date : 10/14/2020 at 16:31
CONSTRUCTION
- Beds : 4
- Floor Size : 2,249 sqft
- Baths : 3 full
Listing Agent
The Brokerage House
Listing Agent's Description
BEAUTIFUL Tri-Level home in one of Charlotte's most desirable neighborhoods; Starmount. Enjoy your privacy as this is one of the largest lot's in Starmount, has a fence and private backyard and sits on a cul-de-sac. Upgraded kitchen and new cabinets. Stainless steel appliances. All bathrooms have been updated. Basement features a second kitchen! Roof is around 5 years old, water heater and HVAC both around 4 years old. Close to the light rail station. Location, Location, Location. This won't last, schedule a showing today!
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
Neighborhood: Starmount Forest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Starmount Forest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,900 |
| EXPENSES | Loan Payment | -$1,389 |
| Property Tax | -$362 | |
| Property Insurance | -$70 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$39
|
||
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.
$399,900
PROJECTED PRICE
$1,900
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.94% |
| Appreciation Year (1-5) | 8.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.02% |
| 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
$111,724
LOAN DETAILS
$1,389
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $99,975 |
| Loan Amount | $299,925 |
4.58
YEARS SAVED
$18,395
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,900
LIST RENT -
$0.84
LIST RENT PER SQFT
-
$2,120
COMP ESTIMATED VALUE -
$0.94
COMP AVG. RENT PER SQFT
Comps Range
-
2106 Starbrook Drive Charlotte, NC 2
- 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 1963 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 1963
- Rent
- Rent Per SQFT
- $1,900
- $0.84
-
7115 Thornrose Drive Charlotte, NC 1
- 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 2019
LEASED 11/12/19- Rent
- Rent Per SQFT
- $1,795
- $0.84
-
7107 Thornrose Drive Charlotte, NC 3
- 4 beds 3 baths ∙ 2,417 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,417 Sqft ∙ Built 2019
LEASED 05/22/20- Rent
- Rent Per SQFT
- $1,950
- $0.81
-
2510 Red Barn Lane Charlotte, NC 4
- 4 beds 3 baths ∙ 2,229 Sqft ∙ Built 1967 4 beds 3 baths ∙ 2,229 Sqft ∙ Built 1967
LEASED 05/14/20- Rent
- Rent Per SQFT
- $2,000
- $0.90
-
2409 Huntingtowne Farms Lane Charlotte, NC 5
- 3 beds 2 baths ∙ 2,135 Sqft ∙ Built 1964 3 beds 2 baths ∙ 2,135 Sqft ∙ Built 1964
LEASED 03/20/20- Rent
- Rent Per SQFT
- $2,600
- $1.22
PROPERTY LISTING DETAILS
1.704.558.6166
The Brokerage House
