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PROPERTY INFO
FACTS
- Single Family
- Built In 1985
- Price/Sqft : $256.32
- -8 Days on Market
- MLS # : CAR3752518
- Updated Date : 07/12/2021 at 23:42
CONSTRUCTION
- Beds : 2
- Floor Size : 1,463 sqft
- Baths : 2 full
Listing Agent
Keller Williams Lake Norman
Listing Agent's Description
This lovely, picturesque ranch home in the highly-desirable lake access neighborhood of Bahia Bay will not last long! Entertaining is a breeze w/ a thoughtful floorplan flowing from living room, sunroom and out onto a large deck, overlooking a beautiful fenced in yard. The illuminating natural light shining through the skylight in the living room during the day creates a lively ambience which then gives way to a cozy, tranquil atmosphere for evening hours by the fireplace. This home is septic permitted as a 2 bedroom, yet has another room that could be used as a guest room or office. This well-established community boasts a gated large community lake access lot with pier, dock, two boat ramps, outdoor shower, and picnic tables to cater to your recreational side. Conveniently located near shopping, Hwy 77, and restaurants.
SEE MORE
- 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
Neighborhood: Cornelius
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Cornelius
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,790 |
| EXPENSES | Loan Payment | -$1,303 |
| Property Tax | -$276 | |
| Property Insurance | -$55 | |
| HOA | -$6 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$31
|
||
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.
$375,000
PROJECTED PRICE
$1,790
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 6.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| 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
$105,125
LOAN DETAILS
$1,303
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $93,750 |
| Loan Amount | $281,250 |
6.17
YEARS SAVED
$26,521
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$1,840
COMP ESTIMATED VALUE -
$1.26
COMP AVG. RENT PER SQFT
Comps Range
-
21625 Colina Drive Cornelius, NC 1
- 2 beds 2 baths ∙ 1,463 Sqft ∙ Built 1985 2 beds 2 baths ∙ 1,463 Sqft ∙ Built 1985
- Rent
- Rent Per SQFT
- $0
- $0.00
-
1020 Southwest Drive Davidson, NC 2
- 2 beds 2 baths ∙ 1,155 Sqft ∙ Built 1994 2 beds 2 baths ∙ 1,155 Sqft ∙ Built 1994
LEASED 05/21/21- Rent
- Rent Per SQFT
- $1,400
- $1.21
-
789 Peninsula Drive Davidson, NC 3
- 2 beds 2 baths ∙ 1,242 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,242 Sqft ∙ Built 2001
LEASED 12/31/20- Rent
- Rent Per SQFT
- $1,500
- $1.21
-
20357 Harborgate Court #204 Cornelius, NC 4
- 2 beds 2 baths ∙ 1,335 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,335 Sqft ∙ Built 1984
LEASED 03/02/20- Rent
- Rent Per SQFT
- $1,550
- $1.16
-
19831 Henderson Road #l Cornelius, NC 5
- 2 beds 2 baths ∙ 1,366 Sqft ∙ Built 1990 2 beds 2 baths ∙ 1,366 Sqft ∙ Built 1990
LEASED 06/29/21- Rent
- Rent Per SQFT
- $1,975
- $1.45
PROPERTY LISTING DETAILS
1.704.737.4129
Keller Williams Lake Norman
