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213 Eden Circle Pineville, NC 28134

3 Beds 2 Baths 1,125 sqft Built 1962

$184,900

List Price

$1,170

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $164.36
  • 2 Days on Market
  • MLS # : 3688947
  • Updated Date : 12/05/2020 at 13:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,125 sqft
  • Baths : 1 full , 1 half
Listing Agent

Dwight Brokerage

Listing Agent's Description

Location, location, location! Don't miss out on the chance to get into the elusive Eden Gardens. Just minutes from Downtown Pineville, Lake Park and conveniently located near 485, 77, the Light Rail, and everything else you can think of and/or possibly need. This 3 bed, 1.5 bath, full brick ranch is tucked away in the middle of the neighborhood on one of the biggest and best lots and includes a fenced in backyard with 2 large sheds (one that is 16'x10' and the other is 8'x10'). If you are looking to personalize your dream home, than this is just the one for you. From the original hardwoods hidden under the carpeted areas to the $20k which was just spent in the last 3 years to completely replace the entire HVAC system, all the windows and the water heater with more energy and cost efficient alternatives. Dual fuel HVAC system, gas tankless water heater and insulated double hung windows. Now all that's left is the fun cosmetic things that will turn this house into your cozy new home!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Pineville

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $108k251k

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

Neighborhood: Pineville

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8421652

* 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
Pineville Elementary School Primary Regular 811 45 7
Quail Hollow Middle School Middle Regular 946 51 3
South Mecklenburg High School High Regular 2,913 147 7

Pineville Elementary School

  • Education Level: Primary
  • # of students: 811
  • # of teachers: 45
7
GreatSchools Rating

Quail Hollow Middle School

  • Education Level: Middle
  • # of students: 946
  • # of teachers: 51
3
GreatSchools Rating

South Mecklenburg High School

  • Education Level: High
  • # of students: 2,913
  • # of teachers: 147
7
GreatSchools Rating
 

$166,410$203,390$184,900

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$682
Property Tax -$153
Property Insurance -$48
Property Management Fees -$119
CASH FLOW
$168

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.

$184,900

PROJECTED PRICE

$1,170

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 9.2%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,749

INVESTMENT

$54,749

Down Payment
$46,225
Rehab Estimate
$5,750
Closing Costs
$2,774

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$682

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,225
Loan Amount $138,675
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$29,883

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,170

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,108

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,170
1$1,1702$1,3003$1,382
$1,382
RENT COMPS ANALYSIS
  • 213 Eden Circle Pineville, NC 1
    • 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $1.04
    •  
  • 10926 Copperfield Down Pineville, NC 2
    • 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1981
    property image
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.98
    •  
  • 11712 Rimrock Canyon Drive Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 1980
    property image
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,382
    • $0.98
    •  
PROPERTY LISTING DETAILS
George Dwight
1.704.661.6545
Dwight Brokerage
BESbswy