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2324 Tarleton Twins Terrace Charlotte, NC 28270

4 Beds 3 Baths 2,673 sqft Built 1996

$434,500

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $162.55
  • 7 Days on Market
  • MLS # : 3706058
  • Updated Date : 02/12/2021 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,673 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

This home will not disappoint! Recently updated with gleaming hardwood floors in the office/living room & family room, hallway. New vinyl tile installed in the laundry room. Freshly painted shutters, front exterior & many interior rooms. Plantation shutters throughout except breakfast nook & kitchen. White kitchen cabinets, granite & stainless appliances. Flex room could be bonus area or fourth bedroom. Private, wooded & fenced backyard.

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: Providence Plantation

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $116k585k

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

Neighborhood: Providence Plantation

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $8442955

* 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
Providence Spring Elementary School Primary Regular 871 45 9
Crestdale Middle School Middle Regular 868 44 7
Providence High School High Regular 1,991 94 9

Providence Spring Elementary School

  • Education Level: Primary
  • # of students: 871
  • # of teachers: 45
9
GreatSchools Rating

Crestdale Middle School

  • Education Level: Middle
  • # of students: 868
  • # of teachers: 44
7
GreatSchools Rating

Providence High School

  • Education Level: High
  • # of students: 1,991
  • # of teachers: 94
9
GreatSchools Rating
 

$391,050$477,950$434,500

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,509
Property Tax -$417
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
$77

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.

$434,500

PROJECTED PRICE

$2,200

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 3.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.36%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$120,893

INVESTMENT

$120,893

Down Payment
$108,625
Rehab Estimate
$5,750
Closing Costs
$6,518

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,509

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $108,625
Loan Amount $325,875
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$35,163

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,199

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9953$2,2004$2,3955$2,500
$2,500
RENT COMPS ANALYSIS
  • 2324 Tarleton Twins Terrace Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,673 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,673 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.82
    •  
  • 1704 Chinchester Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,585 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,585 Sqft ∙ Built 2000
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.75
    •  
  • 3510 Cole Mill Road Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,473 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,473 Sqft ∙ Built 2000
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.81
    •  
  • 3300 Gray Moss Road Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,988 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,988 Sqft ∙ Built 1978
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.80
    •  
  • 2436 Tarleton Twins Terrace Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,684 Sqft ∙ Built 4 beds 3 baths ∙ 2,684 Sqft ∙ Built
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.93
    •  
PROPERTY LISTING DETAILS
Cathy D Roberts
1.704.617.3776
Exp Realty Llc
BESbswy