Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2112 Verde Creek Road Charlotte, NC 28214

4 Beds 3 Baths 1,988 sqft Built 2012

$300,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $150.91
  • 7 Days on Market
  • MLS # : 3691988
  • Updated Date : 01/23/2021 at 22:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,988 sqft
  • Baths : 2 full , 1 half
Listing Agent

Kidd Realty

Listing Agent's Description

SHOWINGS BEGIN SUNDAY, JANUARY 24. DISCLOSURE: LISTING AGENT RELATED TO SELLER. Beautiful traditional home located in the beautiful city of Charlotte! This home is conveniently located 6 minutes from The National Whitewater Center, 7 minutes away from I-485, 10 minutes from Charlotte Douglas airport, 20 minutes to downtown Charlotte, and 15 minutes from Northlake Mall! This home has been cared for very well by current owner and it shows. Downstairs is an open concept floor plan, the only thing dividing the kitchen and living room is the kitchen island! Large pantry closet, stunning dark cabinets in the kitchen! A backyard with plenty of room to entertain. Trash services are $70 for 3 months of pick up, payable to Select Sanitation! More info provided if requested! You can't beat the ease of living in this subdivision, you have everything you need within 30 minutes. Welcome home!

SEE MORE

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: Moores Chapel

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Moores Chapel

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771518

* 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
Whitewater Academy Primary Unknown 756 45 NA
Whitewater Middle School Middle Regular 924 53 5
West Mecklenburg High School High Regular 2,040 108 1

Whitewater Academy

  • Education Level: Primary
  • # of students: 756
  • # of teachers: 45
NA
GreatSchools Rating

Whitewater Middle School

  • Education Level: Middle
  • # of students: 924
  • # of teachers: 53
5
GreatSchools Rating

West Mecklenburg High School

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

$270,000$330,000$300,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,042
Property Tax -$262
Property Insurance -$64
HOA -$10
Property Management Fees -$119
CASH FLOW
$194

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.

$300,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
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$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$34,036

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,641

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4493$1,5954$1,6505$1,690
$1,690
RENT COMPS ANALYSIS
  • 2112 Verde Creek Road Charlotte, NC 5
    • 4 beds 3 baths ∙ 1,954 Sqft ∙ Built 2012 4 beds 3 baths ∙ 1,954 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.86
    •  
  • 2805 Belmeade Drive Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1963
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.80
    •  
  • 301 Tribune Drive Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,709 Sqft ∙ Built 3 beds 3 baths ∙ 1,709 Sqft ∙ Built
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.85
    •  
  • 2838 Cartesian Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,907 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,907 Sqft ∙ Built 2006
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.84
    •  
  • 8922 Rockrose Drive Mount Holly, NC 4
    • 3 beds 3 baths ∙ 1,902 Sqft ∙ Built 3 beds 3 baths ∙ 1,902 Sqft ∙ Built
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.87
    •  
PROPERTY LISTING DETAILS
Lottie Young
1.704.560.7888
Kidd Realty
BESbswy