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2162 Cindy Creek Lane Charlotte, NC 28216

3 Beds 3 Baths 1,787 sqft Built 2004

$217,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $121.43
  • 3 Days on Market
  • MLS # : 3704797
  • Updated Date : 02/05/2021 at 17:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,787 sqft
  • Baths : 2 full , 1 half
Listing Agent

Giving Tree Realty

Listing Agent's Description

HIGHEST AND BEST BY 5PM SATURDAY 2/6. This 3 bedroom/2.5 bath home is perfectly situated at the bottom of a cul-de-sac. With easy access to 85 and Uptown. It will not last long. Upgrades throughout the two-story residence include Tastefully Selected Granite Countertops, Modern Subway tile in the Kitchen, Stainless Steel Appliances, New Light fixtures, New Bathroom Granite Countertops and Vanities. Ceiling fans were added in all of the bedrooms and den. Vaulted ceilings in the bedrooms lend for a spacious feel. Lots of natural sunlight fills the home. Attached garage for storage or to keep your car away from the elements.

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: Hamilton Circle

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Hamilton Circle

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771518

* 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
 

$195,300$238,700$217,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$754
Property Tax -$189
Property Insurance -$61
HOA -$16
Property Management Fees -$119
CASH FLOW
$161

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.

$217,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.2%
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$900k

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$63,255

INVESTMENT

$63,255

Down Payment
$54,250
Rehab Estimate
$5,750
Closing Costs
$3,255

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$754

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,250
Loan Amount $162,750
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$26,310

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,407

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3003$1,3954$1,4005$1,400
$1,400
RENT COMPS ANALYSIS
  • 2162 Cindy Creek Lane Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,787 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,787 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.73
    •  
  • 1817 Mcallister Drive Nw Charlotte, NC 1
    • 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
    •  
  • 4526 Esmeralda Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2013
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.79
    •  
  • 2730 Cochrane Drive Charlotte, NC 4
    • 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
    •  
  • 1432 Prairie Valley Drive Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,933 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,933 Sqft ∙ Built 2005
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.72
    •  
PROPERTY LISTING DETAILS
Laura Ulloa
1.704.591.3697
Giving Tree Realty
BESbswy