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PROPERTY INFO
FACTS
- Single Family
- Built In 2013
- Price/Sqft : $117.86
- 38 Days on Market
- MLS # : 3682628
- Updated Date : 01/08/2021 at 12:51
CONSTRUCTION
- Beds : 4
- Floor Size : 3,096 sqft
- Baths : 2 full , 1 half
Listing Agent
Wilkinson Era Real Estate
Listing Agent's Description
Feels like you're in the country, but close to shopping/restaurants/schools and outdoor recreation. Desirable Cabarrus county schools. Looking for a practical floorplan? Formals areas, open living/kitchen with extended island & breakfast room. Additional room with door on main floor can be used as an office. 4 bedrooms include a large ensuite master with lots of closet space PLUS a Bonus Room. Functional and separate use of square footage for school/work/quiet time, yet open for socializing and family time. Laminate flooring, fresh paint, double sinks in master and hall bath. Cooktop range is electric OR Gas, on demand water heater. Get moved in before the New Year!!
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: The Mills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: The Mills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,850 |
| EXPENSES | Loan Payment | -$1,267 |
| Property Tax | -$454 | |
| Property Insurance | -$85 | |
| HOA | -$67 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$143
|
||
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.
$364,900
PROJECTED PRICE
$1,850
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 8.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| 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
$102,449
LOAN DETAILS
$1,267
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $91,225 |
| Loan Amount | $273,675 |
3.25
YEARS SAVED
$9,768
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,850
LIST RENT -
$0.6
LIST RENT PER SQFT
-
$1,904
COMP ESTIMATED VALUE -
$0.62
COMP AVG. RENT PER SQFT
Comps Range
-
2116 Galloway Lane Concord, NC 2
- 4 beds 3 baths ∙ 3,096 Sqft ∙ Built 2013 4 beds 3 baths ∙ 3,096 Sqft ∙ Built 2013
![property image]()
- Rent
- Rent Per SQFT
- $1,850
- $0.60
-
6929 Brandon Chase Lane Concord, NC 1
- 5 beds 3 baths ∙ 2,982 Sqft ∙ Built 2002 5 beds 3 baths ∙ 2,982 Sqft ∙ Built 2002
![property image]()
LEASED 06/06/19- Rent
- Rent Per SQFT
- $1,795
- $0.60
-
2102 Grist Mill Drive Sw Concord, NC 3
- 5 beds 4 baths ∙ 3,320 Sqft ∙ Built 2018 5 beds 4 baths ∙ 3,320 Sqft ∙ Built 2018
![property image]()
LEASED 03/17/20- Rent
- Rent Per SQFT
- $2,000
- $0.60
-
7401 Bosson Street Sw Concord, NC 4
- 5 beds 3 baths ∙ 3,345 Sqft ∙ Built 2019 5 beds 3 baths ∙ 3,345 Sqft ∙ Built 2019
![property image]()
LEASED 05/21/20- Rent
- Rent Per SQFT
- $2,095
- $0.63
-
7454 Boulaide Street Sw Concord, NC 5
- 5 beds 3 baths ∙ 3,345 Sqft ∙ Built 2018 5 beds 3 baths ∙ 3,345 Sqft ∙ Built 2018
![property image]()
LEASED 09/29/19- Rent
- Rent Per SQFT
- $2,099
- $0.63
PROPERTY LISTING DETAILS
1.704.622.8001
Wilkinson Era Real Estate
