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216 Blackberry Trail Concord, NC 28027

3 Beds 2 Baths 1,696 sqft Built 1973

$250,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Built In 1973
  • Price/Sqft : $147.41
  • 11 Days on Market
  • MLS # : 3651411
  • Updated Date : 11/07/2020 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,696 sqft
  • Baths : 2 full
Listing Agent

Mark Spain Real Estate

Listing Agent's Description

Enjoy this beautiful ranch home in the desirable Poplar Trails. This fantastic location is close to I-85 and is in a highly desirable school district. The HVAC is only 1 month old and this home also comes with a newer roof, septic and plumbing. Inside this home has 3 bedrooms and 2 full bathrooms. A little TLC will make this house your home. Outside, this home sits on a .43 acre lot. The backyard has plenty of space with 2 storage buildings. One of the buildings is wired for electricity. Also no HOA! Come check out this amazing home today!

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: Cox Mill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Cox Mill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8401809

* 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
W R Odell Elementary School Primary Regular 882 52 NA
Harris Road Middle School Middle Regular 1,185 63 9
Cox Mill High School High Regular 1,478 76 7

W R Odell Elementary School

  • Education Level: Primary
  • # of students: 882
  • # of teachers: 52
NA
GreatSchools Rating

Harris Road Middle School

  • Education Level: Middle
  • # of students: 1,185
  • # of teachers: 63
9
GreatSchools Rating

Cox Mill High School

  • Education Level: High
  • # of students: 1,478
  • # of teachers: 76
7
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$922
Property Tax -$189
Property Insurance -$59
Property Management Fees -$133
CASH FLOW
$177

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.

$250,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$33,863

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,514

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4803$1,7004$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 216 Blackberry Trail Concord, NC 2
    • 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.87
    •  
  • 8129 Chatham Oaks Drive Concord, NC 1
    • 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 2003
    property image
    LEASED 05/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.90
    •  
  • 9749 Waltham Court Charlotte, NC 3
    • 4 beds 3 baths ∙ 1,956 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,956 Sqft ∙ Built 2004
    property image
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.87
    •  
  • 8422 Bampton Drive Concord, NC 4
    • 4 beds 2 baths ∙ 2,006 Sqft ∙ Built 4 beds 2 baths ∙ 2,006 Sqft ∙ Built
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.87
    •  
  • 10039 Paisley Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 1,992 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,992 Sqft ∙ Built 2006
    property image
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.90
    •  
PROPERTY LISTING DETAILS
Rachel Alles
1.855.299.7653
Mark Spain Real Estate
BESbswy