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2321 Old Goose Lane Charlotte, NC 28262

4 Beds 3 Baths 1,821 sqft Built 2013

$275,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $151.02
  • 3 Days on Market
  • MLS # : 3698292
  • Updated Date : 01/22/2021 at 17:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,821 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Welcome to this well maintained like new home in the desirable Mallard Lake Community! Step off the covered front porch into a large foyer leading to an open floor plan perfect for relaxing and entertaining. This home boasts new engineered hardwood floors (2020) throughout the entire lower level. The kitchen is complete with stainless steel appliances, island with breakfast bar, plenty of counter space, cabinet storage & pantry which is sure to delight any chef. Walk out the back doors onto the extended back patio with new pergola (2020) and enjoy the private and fully fenced (fence added 2014) backyard. Upstairs you'll find four additional bedrooms including the owner's suite. The owner's suite is complete with vaulted ceilings, large walk-in closet & a garden tub. This home offers great move-in ready neutral colors and plenty of storage. Refrigerator, washer and dryer will convey. This beauty won't last long! Water & Trash included in quarterly HOA dues. Fresh Paint Up 2020 Down 2019

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: Mallard Creek - Withrow Downs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Mallard Creek - Withrow Downs

NeighborhoodNIR 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
Stoney Creek Elementary School Primary Regular 853 50 4
James Martin Middle School Middle Regular 1,113 54 3
Vance High School High Regular 1,714 91 3

Stoney Creek Elementary School

  • Education Level: Primary
  • # of students: 853
  • # of teachers: 50
4
GreatSchools Rating

James Martin Middle School

  • Education Level: Middle
  • # of students: 1,113
  • # of teachers: 54
3
GreatSchools Rating

Vance High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 91
3
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$955
Property Tax -$240
Property Insurance -$61
HOA -$120
Property Management Fees -$119
CASH FLOW
-$65

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.

$275,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.6%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$10,658

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,539

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,430
1$1,4302$1,4953$1,4954$1,5005$1,825
$1,825
RENT COMPS ANALYSIS
  • 2321 Old Goose Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 1,821 Sqft ∙ Built 2013 4 beds 3 baths ∙ 1,821 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.79
    •  
  • 735 Reigate Road Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,737 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,737 Sqft ∙ Built 2003
    LEASED 08/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.86
    •  
  • 11005 Greenhead View Road Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2012
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.83
    •  
  • 740 Reigate Road Charlotte, NC 4
    • 4 beds 3 baths ∙ 1,808 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,808 Sqft ∙ Built 2003
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.83
    •  
  • 15427 Chowning Tavern Lane Charlotte, NC 5
    • 3 beds 3 baths ∙ 2,121 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,121 Sqft ∙ Built 2005
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.86
    •  
PROPERTY LISTING DETAILS
Amy Murray
1.704.661.0241
Exp Realty Llc
BESbswy