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2160 Greenleaf Drive Gastonia, NC 28054

3 Beds 2 Baths 1,045 sqft Built 1970

$242,500

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $232.06
  • 6 Days on Market
  • MLS # : 3687465
  • Updated Date : 12/05/2020 at 14:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,045 sqft
  • Baths : 2 full
Listing Agent

Rockin Realty Inc

Listing Agent's Description

Fresh Paint, New Carpet, Wood floors in Family room, Granite Counter tops in spacious Kitchen, Custom Laundry room with LOTS of storage, 16X24 workshop, seller definitely has a green thumb and the beautifully landscaped yard is proof, irrigation system in front and back. NO HOA, Listing Firm does not hold EMD.

SEE MORE

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

Zip Code: 28054

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k213k

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

Zip Code: 28054

ZipNIR Market*CityMarket2010Year20002019 Q270075080085090095010001050110011501200125013001350Rent in $6771375

* 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
Gardner Park Elementary School Primary Regular 668 36 5
Grier Middle School Middle Regular 679 38 6
Ashbrook High School High Regular 1,436 89 4

Gardner Park Elementary School

  • Education Level: Primary
  • # of students: 668
  • # of teachers: 36
5
GreatSchools Rating

Grier Middle School

  • Education Level: Middle
  • # of students: 679
  • # of teachers: 38
6
GreatSchools Rating

Ashbrook High School

  • Education Level: High
  • # of students: 1,436
  • # of teachers: 89
4
GreatSchools Rating
 

$218,250$266,750$242,500

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$895
Property Tax -$201
Property Insurance -$47
Property Management Fees -$119
CASH FLOW
$8

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.

$242,500

PROJECTED PRICE

$1,270

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 6.0%
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-$2.0k$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,013

INVESTMENT

$70,013

Down Payment
$60,625
Rehab Estimate
$5,750
Closing Costs
$3,638

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$895

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,625
Loan Amount $181,875
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$17,372

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $995

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,1953$1,2084$1,2495$1,270
$1,270
RENT COMPS ANALYSIS
  • 2160 Greenleaf Drive Gastonia, NC 5
    • 3 beds 2 baths ∙ 1,045 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,045 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $1.22
    •  
  • 2400 Terra Drive Gastonia, NC 1
    • 3 beds 2 baths ∙ 1,122 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,122 Sqft ∙ Built 2005
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.98
    •  
  • 732 Willow Creek Drive Gastonia, NC 2
    • 3 beds 3 baths ∙ 1,249 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,249 Sqft ∙ Built 2013
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.96
    •  
  • 1011 Holly Drive Gastonia, NC 3
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1964
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,208
    • $0.96
    •  
  • 2309 Saluda Drive Gastonia, NC 4
    • 4 beds 2 baths ∙ 1,367 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,367 Sqft ∙ Built 2005
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $0.91
    •  
PROPERTY LISTING DETAILS
Teresa Coxey Macfarlane
1.704.616.6113
Rockin Realty Inc
BESbswy