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212 Glencroft Drive #11 Wingate, NC 28174

3 Beds 2 Baths 1,303 sqft Built 2006

$245,000

List Price

$1,220

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $188.03
  • 3 Days on Market
  • MLS # : 3717826
  • Updated Date : 03/12/2021 at 16:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,303 sqft
  • Baths : 2 full
Listing Agent

Bradley Real Estate & Development

Listing Agent's Description

This 3 bedroom/2 bathroom home will WOW you! 2 car attached garage, open floor plan, granite kitchen tops, and new flooring just to name a few! Please make sure to follow all CDC protocols for showings. Shoe booties and masks are required. Showings will start on Saturday 3-13-2021.

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

Zip Code: 28174

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210kPrice in $103k213k

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

Zip Code: 28174

ZipNIR Market*CityMarket2010Year20002019 Q275080085090095010001050110011501200125013001350Rent in $7141375

* 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
Wingate Elementary School Primary Regular 616 61 6
East Union Middle School Middle Regular 908 59 3
Forest Hills High School High Regular 937 63 2

Wingate Elementary School

  • Education Level: Primary
  • # of students: 616
  • # of teachers: 61
6
GreatSchools Rating

East Union Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 59
3
GreatSchools Rating

Forest Hills High School

  • Education Level: High
  • # of students: 937
  • # of teachers: 63
2
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$851
Property Tax -$186
Property Insurance -$52
HOA -$13
Property Management Fees -$119
CASH FLOW
-$1

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.

$245,000

PROJECTED PRICE

$1,220

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 9.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$13,188

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,238

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2203$1,2504$1,250
$1,250
RENT COMPS ANALYSIS
  • 212 Glencroft Drive Wingate, NC 2
    • 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $0.94
    •  
  • 109 Colonial Circle Wingate, NC 1
    • 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1994
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.92
    •  
  • 229 Glencroft Drive Wingate, NC 3
    • 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 2005
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.96
    •  
  • 7123 Windsong Way Wingate, NC 4
    • 3 beds 3 baths ∙ 1,294 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,294 Sqft ∙ Built 2001
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.97
    •  
PROPERTY LISTING DETAILS
Carol Bradley
1.704.400.6043
Bradley Real Estate & Development
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3717826
Last Updated: 03/12/2021
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