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2390 Eagle Glen Court Gastonia, NC 28056

3 Beds 2 Baths 1,255 sqft Built 1998

$209,000

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

January 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $166.53
  • 2 Days on Market
  • MLS # : 3692286
  • Updated Date : 01/09/2021 at 19:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,255 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

This house has it ALL...3 bedrooms/2 full baths, 2 car garage, open floor plan, brand new HVAC(July 2020), new Water Heater and the roof is less than 10 years old!!! Fresh paint throughout the home and a brand new dishwasher. MUST SEE! This one is guaranteed to go fast.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 28056

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $81k213k

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

Zip Code: 28056

ZipNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400Rent in $6901460

* 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
Lingerfeldt Elementary School Primary Regular 494 32 4
Southwest Middle School Middle Regular 867 47 4
Forestview High School High Regular 1,143 63 7

Lingerfeldt Elementary School

  • Education Level: Primary
  • # of students: 494
  • # of teachers: 32
4
GreatSchools Rating

Southwest Middle School

  • Education Level: Middle
  • # of students: 867
  • # of teachers: 47
4
GreatSchools Rating

Forestview High School

  • Education Level: High
  • # of students: 1,143
  • # of teachers: 63
7
GreatSchools Rating
 

$188,100$229,900$209,000

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$726
Property Tax -$173
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
$211

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$209,000

PROJECTED PRICE

$1,280

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,135

INVESTMENT

$61,135

Down Payment
$52,250
Rehab Estimate
$5,750
Closing Costs
$3,135

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$726

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,250
Loan Amount $156,750
See What Happens When You Reinvest Cash Flow

10.33

YEARS SAVED

$31,442

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,092

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,2803$1,325
$1,325
RENT COMPS ANALYSIS
  • 2390 Eagle Glen Court Gastonia, NC 2
    • 3 beds 2 baths ∙ 1,255 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,255 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $1.02
    •  
  • 1218 Congress Street Gastonia, NC 1
    • 3 beds 1 baths ∙ 1,213 Sqft ∙ Built 1920 3 beds 1 baths ∙ 1,213 Sqft ∙ Built 1920
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.87
    •  
  • 1278 Morrocroft Trail Gastonia, NC 3
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1993
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.87
    •  
PROPERTY LISTING DETAILS
Mary Kelly
1.704.860.1310
Keller Williams Ballantyne Area
BESbswy