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2307 Ivy Run Drive Indian Trail, NC 28079

3 Beds 2 Baths 1,145 sqft Built 1999

$225,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $196.51
  • 7 Days on Market
  • MLS # : 3685852
  • Updated Date : 11/28/2020 at 08:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,145 sqft
  • Baths : 2 full
Listing Agent

Allen Tate Wesley Chapel

Listing Agent's Description

Beautiful ranch home on quiet cul-de-sac in Indian Trail. Owner's suite features large bedroom, attached bath and walk-in closet. Split bedroom plan. No carpet in the house. Bright kitchen with eat-in area and view of the amazing backyard through sliding glass doors. Laundry room with access to the garage. Fully fenced and private backyard. Roof replaced 2010. HVAC recently serviced. Seller providing 1-year home warranty.

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

Zip Code: 28079

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Zip Code: 28079

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Fairview Elementary School Primary Regular 563 30 6
Piedmont Middle School Middle Regular 1,097 55 7
Piedmont High School High Regular 1,244 65 8

Fairview Elementary School

  • Education Level: Primary
  • # of students: 563
  • # of teachers: 30
6
GreatSchools Rating

Piedmont Middle School

  • Education Level: Middle
  • # of students: 1,097
  • # of teachers: 55
7
GreatSchools Rating

Piedmont High School

  • Education Level: High
  • # of students: 1,244
  • # of teachers: 65
8
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$830
Property Tax -$147
Property Insurance -$49
HOA -$17
Property Management Fees -$121
CASH FLOW
$176

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.

$225,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.3%
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$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

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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$32,565

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,165

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,2953$1,2954$1,3405$1,495
$1,495
RENT COMPS ANALYSIS
  • 2307 Ivy Run Drive Indian Trail, NC 4
    • 3 beds 2 baths ∙ 1,145 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,145 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $1.17
    •  
  • 8008 Hembywood Drive Indian Trail, NC 1
    • 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1975 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1975
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $1.05
    •  
  • 6204 Mapleleaf Drive Indian Trail, NC 2
    • 3 beds 2 baths ∙ 1,307 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,307 Sqft ∙ Built 1978
    LEASED 08/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.99
    •  
  • 5814 Woody Grove Road Indian Trail, NC 3
    • 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 1975
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.01
    •  
  • 2419 Ivy Run Drive Indian Trail, NC 5
    • 3 beds 3 baths ∙ 1,462 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,462 Sqft ∙ Built 1999
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.02
    •  
PROPERTY LISTING DETAILS
Carol Kurtz
1.704.906.7427
Allen Tate Wesley Chapel
BESbswy