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PROPERTY INFO
FACTS
- Single Family
- Built In 1985
- Price/Sqft : $147.53
- 4 Days on Market
- MLS # : 3696533
- Updated Date : 01/09/2021 at 22:03
CONSTRUCTION
- Beds : 4
- Floor Size : 2,365 sqft
- Baths : 2 full , 1 half
Listing Agent
Bestway Realty
Listing Agent's Description
Multiple offers received - “BEST and FINAL should be received by 9:30 am Monday as Owner will make decision Monday. !!! BEAUTIFUL LARGE HOME WITH SPLIT BEDROOM DESIGN + 1.61 Acres with NO HOA DUES !!! HUGE Rooms throughout = 20x19 Great Room with FP / 26' Kitchen with Dining Area with atrium doors to Big deck overlooking fenced backyard / 20x20 Master bedroom + 10' Walk-in closet, Master Bathroom has Custom Full Tile Shower & Large soaking tub / Heated Daylight basement Bonus room & foyer with rear entrance + 2nd double door entrance from Garage listed as Additional Sq Footage / Chimney as is - no known deflects and partial closed off / OLREB / Confirmed appointment required - Security. Owner will examine all offers Late Sunday night or Monday morning with the intent to make decision sometime on Monday - thank you.
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: Allen Acres
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Allen Acres
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,690 |
| EXPENSES | Loan Payment | -$1,212 |
| Property Tax | -$185 | |
| Property Insurance | -$71 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$103
|
||
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.
$348,900
PROJECTED PRICE
$1,690
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$98,209
LOAN DETAILS
$1,212
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $87,225 |
| Loan Amount | $261,675 |
6.92
YEARS SAVED
$28,889
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 -
$0.72
LIST RENT PER SQFT
-
$1,454
COMP ESTIMATED VALUE -
$0.62
COMP AVG. RENT PER SQFT
Comps Range
-
215 Pinewood Lane Midland, NC 2
- 4 beds 3 baths ∙ 2,345 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,345 Sqft ∙ Built 1985
- Rent
- Rent Per SQFT
- $1,690
- $0.72
-
1293 Nc Hwy 24/27 Highway Midland, NC 1
- 3 beds 2 baths ∙ 2,400 Sqft ∙ Built 3 beds 2 baths ∙ 2,400 Sqft ∙ Built
LEASED 03/25/20- Rent
- Rent Per SQFT
- $1,500
- $0.63
PROPERTY LISTING DETAILS
1.704.201.6359
Bestway Realty
