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2154 Cindy Creek Lane Charlotte, NC 28216

3 Beds 3 Baths 1,485 sqft Built 2004

$192,000

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $129.29
  • 3 Days on Market
  • MLS # : 3696694
  • Updated Date : 01/09/2021 at 15:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,485 sqft
  • Baths : 2 full , 1 half
Listing Agent

Frazier United Realty Llc

Listing Agent's Description

Don't miss the opportunity to Own this 1 Owner immaculate home!!! This beauty has it all!! Very well maintained, Open high Ceiling in living room, cozy fire place, updated Laminate flooring, Master Bedroom on lower level with Master Bathroom Garden Tub and separate shower, Fresh paint throughout, Recess lighting in the kitchen, New garage door opener and so much more!!! Very easy to show. **Multiple Offers- Highest and Best by Sunday 1/10 at 5pm**

SEE MORE

MARKET HIGHLIGHTS

  • 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: Wilson Heights

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $49k235k

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

Neighborhood: Wilson Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6011518

* 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
Statesville Road Elementary School Primary Regular 561 39 4
Ranson Middle School Middle Regular 1,138 57 3
West Charlotte High School High Regular 1,777 109 3

Statesville Road Elementary School

  • Education Level: Primary
  • # of students: 561
  • # of teachers: 39
4
GreatSchools Rating

Ranson Middle School

  • Education Level: Middle
  • # of students: 1,138
  • # of teachers: 57
3
GreatSchools Rating

West Charlotte High School

  • Education Level: High
  • # of students: 1,777
  • # of teachers: 109
3
GreatSchools Rating
 

$172,800$211,200$192,000

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$667
Property Tax -$167
Property Insurance -$55
HOA -$16
Property Management Fees -$119
CASH FLOW
$216

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.

$192,000

PROJECTED PRICE

$1,240

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.7%
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$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$14k

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$56,630

INVESTMENT

$56,630

Down Payment
$48,000
Rehab Estimate
$5,750
Closing Costs
$2,880

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$667

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,000
Loan Amount $144,000
See What Happens When You Reinvest Cash Flow

10.75

YEARS SAVED

$31,084

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,259

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,2003$1,2404$1,3005$1,400
$1,400
RENT COMPS ANALYSIS
  • 2154 Cindy Creek Lane Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,485 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,485 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.84
    •  
  • 11025 Olde English Drive Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,195 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,195 Sqft ∙ Built 2004
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.96
    •  
  • 1817 Mcallister Drive Nw Charlotte, NC 2
    • 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1966
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.77
    •  
  • 4638 Esmeralda Drive Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,642 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,642 Sqft ∙ Built 2012
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.79
    •  
  • 2730 Cochrane Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 1,612 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,612 Sqft ∙ Built 2005
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.87
    •  
PROPERTY LISTING DETAILS
Sheri Davis
1.704.999.6321
Frazier United Realty Llc
BESbswy