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2320 Sunset Boulevard Charlotte, NC 28269

3 Beds 2 Baths 1,485 sqft Built 2020

INVESTimate

$230,000

List Price

$1,240

$1,116 - $1,364

Rent Est.

$251,091  ( +9.17%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $154.88
  • 13 Days on Market
  • MLS # : 3648709
  • Updated Date : 08/24/2020 at 21:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,485 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Very convenient location! Minutes from uptown, I-85, I-77 and a short drive to anywhere in Charlotte! This beautiful new home has granite counter tops, stainless steel appliances, generously sized master bedroom and walk in closet. Home has many upgraded features like hidden vent soffit, vaulted ceiling and many other features. This neighborhood has seen many exciting changes in the last few years and will keep on building to give your home a value boost!

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: Hamilton Circle

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Hamilton Circle

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771518

* 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
Statesville Road Elementary School Primary Regular 561 39 4
Ranson Middle School Middle Regular 1,138 57 3
West Charlotte High School High Regular 1,777 109 3

Statesville Road Elementary School

  • Education Level: Primary
  • # of students: 561
  • # of teachers: 39
4
GreatSchools Rating

Ranson Middle School

  • Education Level: Middle
  • # of students: 1,138
  • # of teachers: 57
3
GreatSchools Rating

West Charlotte High School

  • Education Level: High
  • # of students: 1,777
  • # of teachers: 109
3
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$849
Property Tax -$212
Property Insurance -$55
Property Management Fees -$112
CASH FLOW
$12

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$230,000

PROJECTED PRICE

$1,240

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.17%
Maintenance Year (1-5) 3.00%
Vacancy 6.02%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,950

INVESTMENT

$62,950

Down Payment
$57,500
Rehab Estimate
$2,000
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$12,213

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,255

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,240
1$1,2402$1,2993$1,3004$1,3495$1,400
$1,400
RENT COMPS ANALYSIS
  • 2320 Sunset Boulevard Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.84
    •  
  • 5118 Cross Street Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 2004
    property image
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.91
    •  
  • 4638 Esmeralda Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,642 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,642 Sqft ∙ Built 2012
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.79
    •  
  • 3115 Bennett Neely Lane Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,664 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,664 Sqft ∙ Built 2007
    property image
    LEASED 04/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.81
    •  
  • 2730 Cochrane Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 1,612 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,612 Sqft ∙ Built 2005
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.87
    •  
PROPERTY LISTING DETAILS
Ellie Kang
1.980.800.7789
Coldwell Banker Realty
BESbswy