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2419 Tallet Trace Charlotte, NC 28216

3 Beds 3 Baths 1,854 sqft Built 2018

$308,200

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $166.24
  • 7 Days on Market
  • MLS # : 3702805
  • Updated Date : 02/15/2021 at 07:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,854 sqft
  • Baths : 2 full , 1 half
Listing Agent

Heritage Home Realty, Llc

Listing Agent's Description

Beautiful two story family home features 3 bedrooms and 2.5 bathrooms. Spacious master suite with an amazing walk-in closet! White Quartz countertops in Master bath. The kitchen includes granite countertops, tile backsplash, gas stove and all stainless steel appliances! Beautiful laminate wood flooring throughout the main! Enjoy a glass of wine overlooking the sunset with a huge backyard! This home is a MUST SEE! Pet friendly community with a swimming pool! Easy access to I-485 and I-85. Welcome home!

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

Neighborhood: Oakdale South

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $90k235k

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

Neighborhood: Oakdale South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7831518

* 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
Mountain Island Elementary School Primary Regular 727 47 3
Coulwood Middle School Middle Regular 694 45 7
West Mecklenburg High School High Regular 2,040 108 1

Mountain Island Elementary School

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 47
3
GreatSchools Rating

Coulwood Middle School

  • Education Level: Middle
  • # of students: 694
  • # of teachers: 45
7
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating
 

$277,380$339,020$308,200

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,071
Property Tax -$269
Property Insurance -$62
HOA -$63
Property Management Fees -$119
CASH FLOW
-$43

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.

$308,200

PROJECTED PRICE

$1,540

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.0%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$87,423

INVESTMENT

$87,423

Down Payment
$77,050
Rehab Estimate
$5,750
Closing Costs
$4,623

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,071

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,050
Loan Amount $231,150
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$12,294

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,409

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,479
1$1,4792$1,4953$1,5404$1,5955$1,649
$1,649
RENT COMPS ANALYSIS
  • 2419 Tallet Trace Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,854 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,854 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.83
    •  
  • 1741 Harland Street Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,072 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,072 Sqft ∙ Built 2005
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,479
    • $0.71
    •  
  • 6439 Wedron Court Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,984 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,984 Sqft ∙ Built 2003
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.75
    •  
  • 2626 Gingham Street Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 2019
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.77
    •  
  • 1732 Harland Street Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,072 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,072 Sqft ∙ Built 2005
    property image
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $0.80
    •  
PROPERTY LISTING DETAILS
Scott Wheeler
1.704.553.1000
Heritage Home Realty, Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3702805
Last Updated: 02/15/2021
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