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2250 Laurens Drive Concord, NC 28027

4 Beds 3 Baths 3,188 sqft Built 2012

$375,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $117.63
  • 4 Days on Market
  • MLS # : 3694701
  • Updated Date : 01/01/2021 at 19:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,188 sqft
  • Baths : 3 full
Listing Agent

Call It Closed International Inc

Listing Agent's Description

Beautiful open concept home in popular Pelhem Pointe! Situated on one of the largest yards in the neighborhood and at a bend in the street, this 4 bed 3 bath home features a huge private fenced in yard. Granite counters, custom tile backsplash, island and high end maple cabinets with SS appliances adorn the well appointed kitchen. Large open area on main with columns to define formal living and dining areas. Kitchen is open to living room with gas log fireplace. Office / media / play room with french doors across from the full bath on main level. Attached garage connects through large laundry / mud room. Upstairs master has soaring vaulted ceiling and expansive en suite with massive walk in closet. Loft serves as an open bonus area for movie / media, exercise, library or multipurpose area. Walk in closet in secondary bedroom, and two additional bedrooms are upstairs. Community playground is across the street. Pool is a short walk. Walking trails in the woods. Wonderful in every way!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Pelhem Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $118k350k

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

Neighborhood: Pelhem Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8402016

* 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
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,384
Property Tax -$344
Property Insurance -$87
HOA -$44
Property Management Fees -$119
CASH FLOW
-$127

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

$1,850

PROJECTED RENT

0.49%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$16,003

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.58

    LIST RENT PER SQFT
  • $1,969

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8503$1,8504$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 2250 Laurens Drive Concord, NC 3
    • 4 beds 3 baths ∙ 3,188 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,188 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.58
    •  
  • 1714 Cabarrus Crossing Drive Huntersville, NC 1
    • 4 beds 3 baths ∙ 3,348 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,348 Sqft ∙ Built 2003
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.52
    •  
  • 9651 Laurie Avenue Concord, NC 2
    • 5 beds 3 baths ∙ 3,006 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,006 Sqft ∙ Built 2006
    LEASED 11/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.62
    •  
  • 1572 Duckhorn Street Concord, NC 4
    • 4 beds 4 baths ∙ 3,500 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,500 Sqft ∙ Built 2005
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.63
    •  
  • 1267 Middlecrest Drive Concord, NC 5
    • 5 beds 3 baths ∙ 3,200 Sqft ∙ Built 2009 5 beds 3 baths ∙ 3,200 Sqft ∙ Built 2009
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.69
    •  
PROPERTY LISTING DETAILS
David Doty
1.704.780.3084
Call It Closed International Inc
BESbswy