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2220 Lowell Bethesda Road Gastonia, NC 28056

3 Beds 3 Baths 1,706 sqft Built 1985

$220,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

$64,050

Investment Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $128.96
  • 5 Days on Market
  • MLS # : 3710339
  • Updated Date : 03/20/2021 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,706 sqft
  • Baths : 2 full , 1 half
Listing Agent

Odell Realty, Llc

Listing Agent's Description

Located close to everything that's important yet out of the way. Generous .46 acre parcel that makes coming home a pleasure. Nice detached 2 car garage and plenty of driveway parking. Circular flow to the living space on the main level and large rooms upstairs. Large living room/great room with fireplace and easy access to back yard. Nice engineered wood flooring throughout. Master Suite is very spacious and plenty of storage throughout. Wrap around front porch is perfect for welcoming guests.

SEE MORE

MARKET HIGHLIGHTS

Charlotte Market Report
  • 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: 28056

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $81k213k

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

Zip Code: 28056

ZipNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400Rent in $6901460

* 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
Lowell Elementary School Primary Regular 537 31 4
Holbrook Middle School Middle Regular 731 40 6
Ashbrook High School High Regular 1,436 89 4

Lowell Elementary School

  • Education Level: Primary
  • # of students: 537
  • # of teachers: 31
4
GreatSchools Rating

Holbrook Middle School

  • Education Level: Middle
  • # of students: 731
  • # of teachers: 40
6
GreatSchools Rating

Ashbrook High School

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

FINANCIALS

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$198,000$242,000$220,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING
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FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$764
Property Tax -$132
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$336

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$220,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
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$16k$18k

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$64,050

INVESTMENT

$64,050

Down Payment		 $55,000
Rehab Estimate		 $5,750
Closing Costs		 $3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

12.67

YEARS SAVED

$44,438

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT

  • $0.83

    LIST RENT PER SQFT

  • $1,416

    COMP ESTIMATED VALUE

  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,410
1$1,4102$1,4503$1,5504$1,5505$1,650
$1,650
RENT COMPS ANALYSIS
  • 2220 Lowell Bethesda Road Gastonia, NC 1
    • 3 beds 3 baths ∙ 1,706 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,706 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.83
    •  
  • 3924 Catawba Hills Drive Gastonia, NC 2
    • 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 2015
    property image
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.87
    •  
  • 4586 Huntington Drive Gastonia, NC 3
    • 3 beds 3 baths ∙ 1,892 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,892 Sqft ∙ Built 1989
    property image
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
  • 2631 Cypress Oak Lane Gastonia, NC 4
    • 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 2008
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.81
    •  
  • 3857 Streamside Drive Gastonia, NC 5
    • 4 beds 3 baths ∙ 2,002 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,002 Sqft ∙ Built 2017
    property image
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.82
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Lloyd Odell
1.704.728.8878
Odell Realty, Llc
BUYER AGENT
1.866.250.5610
SOURCE
Carolina Multiple Listing Services ( Carolina)
MLS #: 3710339
Last Updated: 03/20/2021

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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