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2112 Maple Tree Court Charlotte, NC 28214

3 Beds 3 Baths 2,304 sqft Built 2004

$270,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $117.19
  • 3 Days on Market
  • MLS # : 3701018
  • Updated Date : 01/23/2021 at 14:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,304 sqft
  • Baths : 2 full , 1 half
Listing Agent

Wilkinson Era Real Estate

Listing Agent's Description

BEAUTIFUL. WELL-KEPT. PRACTICAL. CONVENIENT. TERRIFIC VALUE. The lovely, one-owner home is designed to support individual and collective living. Nicely positioned on a cul-de-sac lot, it offers terrific outdoor living and play space with built-in privacy and plenty of parking. Close access to Hwy 16, I-485, the Riverbend shopping complex, Mountain Island, and the Norhlake Mall complex. Only 9 miles (20 minutes in non-rush hour traffic) to Uptown. Offered AS-IS. Cash buyer and investors: Sellers prefer to lease this AS-IS property from tne new owner through the end of June 2021. Traditional owner-occupant offers are also welcome.

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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: Harwood Lane

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $107k235k

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

Neighborhood: Harwood Lane

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8351518

* 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
River Oaks Academy Primary Regular 611 36 5
Coulwood Middle School Middle Regular 694 45 7
West Mecklenburg High School High Regular 2,040 108 1

River Oaks Academy

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 36
5
GreatSchools Rating

Coulwood Middle School

  • Education Level: Middle
  • # of students: 694
  • # of teachers: 45
7
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$938
Property Tax -$235
Property Insurance -$71
HOA -$21
Property Management Fees -$119
CASH FLOW
$146

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.

$270,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.4%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$26,591

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,532

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5253$1,5304$1,5955$1,695
$1,695
RENT COMPS ANALYSIS
  • 2112 Maple Tree Court Charlotte, NC 3
    • 3 beds 3 baths ∙ 2,304 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,304 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.66
    •  
  • 1921 Double Cedar Drive Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 2006
    property image
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.65
    •  
  • 3222 Lemongrass Lane Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,282 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,282 Sqft ∙ Built 2009
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.67
    •  
  • 9540 Brighthaven Lane Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,430 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,430 Sqft ∙ Built 2006
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.66
    •  
  • 12433 Morning Creek Lane Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,476 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,476 Sqft ∙ Built 2002
    property image
    LEASED 02/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.68
    •  
PROPERTY LISTING DETAILS
Renata Murray
1.704.649.1955
Wilkinson Era Real Estate
BESbswy