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2401 Jefferson Avenue Gastonia, NC 28056

4 Beds 3 Baths 2,449 sqft Built 1972

$295,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $120.46
  • 4 Days on Market
  • MLS # : 3692189
  • Updated Date : 12/17/2020 at 14:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,449 sqft
  • Baths : 3 full
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Gastonia one-story home offers a two-car garage. This home is vacant and cleaned regularly.

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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: 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
Gardner Park Elementary School Primary Regular 668 36 5
Holbrook Middle School Middle Regular 731 40 6
Ashbrook High School High Regular 1,436 89 4

Gardner Park Elementary School

  • Education Level: Primary
  • # of students: 668
  • # of teachers: 36
5
GreatSchools Rating

Holbrook Middle School

  • Education Level: Middle
  • # of students: 731
  • # of teachers: 40
6
GreatSchools Rating

Ashbrook High School

  • Education Level: High
  • # of students: 1,436
  • # of teachers: 89
4
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,088
Property Tax -$295
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
$374

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.

$295,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.66%

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$200k$400k$600k$800k$1.0M

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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

11.5

YEARS SAVED

$60,470

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,922

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,645
1$1,6452$1,6953$1,7954$1,8955$1,950
$1,950
RENT COMPS ANALYSIS
  • 2401 Jefferson Avenue Gastonia, NC 5
    • 4 beds 3 baths ∙ 2,449 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,449 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.80
    •  
  • 5032 Newport Landing Way Gastonia, NC 1
    • 3 beds 3 baths ∙ 2,283 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,283 Sqft ∙ Built 2006
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.72
    •  
  • 4338 Timberwood Drive Gastonia, NC 2
    • 4 beds 3 baths ∙ 2,178 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,178 Sqft ∙ Built 2003
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.78
    •  
  • 2625 Holly Oak Lane Gastonia, NC 3
    • 4 beds 2 baths ∙ 2,298 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,298 Sqft ∙ Built 2008
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.78
    •  
  • 2513 Holly Oak Lane Gastonia, NC 4
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2006
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.86
    •  
PROPERTY LISTING DETAILS
Verria Hairston
1.704.751.0133
Opendoor Brokerage Llc
BESbswy