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2301 Seth Thomas Road Charlotte, NC 28210

4 Beds 3 Baths 2,409 sqft Built 1969

$475,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $197.18
  • 7 Days on Market
  • MLS # : 3689337
  • Updated Date : 12/12/2020 at 23:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,409 sqft
  • Baths : 3 full
Listing Agent

Helen Adams Realty

Listing Agent's Description

Hot Hot Huntingtowne Farms. Full brick, split-level home, updated and move-in ready. This home is super cute with new energy efficient windows, an updated kitchen with stainless steel appliances, granite countertops and white cabinets and updated lighting and fixtures. You'll love the convenience of having 4 full sized bedrooms PLUS an extra utility room that could be used as an exercise room or hobby space. Hardwood flooring throughout most of the main and upper levels with the exception of the kitchen and baths. Large master bedroom with ample closet space and roomy master bath. Rear yard is fenced and offers covered grilling area, seating space, storage shed and lots of room to run around in. Other great pluses: The home features a surround sound system and the HVAC is approximately only 3 years old. This neighborhood has its own access to the Southpark Swim and Tennis Club and the Little Sugar Creek Greenway access and the neighborhood park is a 9 minute walk away.

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: Quail Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $116k371k

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

Neighborhood: Quail Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8442041

* 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
Huntingtowne Farms Elementary School Primary Regular 947 60 4
Carmel Middle School Middle Regular 1,050 58 7
South Mecklenburg High School High Regular 2,913 147 7

Huntingtowne Farms Elementary School

  • Education Level: Primary
  • # of students: 947
  • # of teachers: 60
4
GreatSchools Rating

Carmel Middle School

  • Education Level: Middle
  • # of students: 1,050
  • # of teachers: 58
7
GreatSchools Rating

South Mecklenburg High School

  • Education Level: High
  • # of students: 2,913
  • # of teachers: 147
7
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,753
Property Tax -$414
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
-$68

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.

$475,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.6%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$29,184

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,529

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,2903$2,5004$2,9455$2,995
$2,995
RENT COMPS ANALYSIS
  • 2301 Seth Thomas Road Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 1969 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 1969
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.95
    •  
  • 2510 Red Barn Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,229 Sqft ∙ Built 1967 4 beds 3 baths ∙ 2,229 Sqft ∙ Built 1967
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
  • 2823 Goneaway Road Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,490 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,490 Sqft ∙ Built 1965
    property image
    LEASED 09/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.00
    •  
  • 3811 Ashton Drive Charlotte, NC 4
    • 3 beds 2 baths ∙ 2,526 Sqft ∙ Built 1967 3 beds 2 baths ∙ 2,526 Sqft ∙ Built 1967
    property image
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,945
    • $1.17
    •  
  • 3801 Ashton Drive Charlotte, NC 5
    • 3 beds 2 baths ∙ 2,646 Sqft ∙ Built 1967 3 beds 2 baths ∙ 2,646 Sqft ∙ Built 1967
    property image
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.13
    •  
PROPERTY LISTING DETAILS
Annette Semprit
1.704.299.1985
Helen Adams Realty
BESbswy