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2508 Blue Moss Drive Dallas, NC 28034

3 Beds 3 Baths 2,630 sqft Built 2007

$250,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $95.06
  • 5 Days on Market
  • MLS # : 3687137
  • Updated Date : 12/02/2020 at 23:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,630 sqft
  • Baths : 2 full , 1 half
Listing Agent

Wilkinson Era Real Estate

Listing Agent's Description

Must see beautiful 2 story home in Long Creek Meadows neighborhood! No HOA! Home features spacious open floor plan with new installed vinyl planks, gas log fireplace, half bathroom, office room and dining room on the first floor. Two-story foyer with tons of natural light. Spacious master bedroom with master bathroom and walking closet. Secondary bedrooms, bathroom and laundry on second floor. Quiet and peaceful fenced backyard with large storage shed. Back deck is perfect for grilling and entertaining! Don't miss out on this home!

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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

Neighborhood: Long Creek Meadows

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k213k

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

Neighborhood: Long Creek Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300Rent in $6411375

* 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
Carr Elementary School Primary Regular 647 40 5
W.c. Friday Middle School Middle Regular 687 38 4
North Gaston High School High Regular 1,095 60 3

Carr Elementary School

  • Education Level: Primary
  • # of students: 647
  • # of teachers: 40
5
GreatSchools Rating

W.c. Friday Middle School

  • Education Level: Middle
  • # of students: 687
  • # of teachers: 38
4
GreatSchools Rating

North Gaston High School

  • Education Level: High
  • # of students: 1,095
  • # of teachers: 60
3
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$922
Property Tax -$182
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
$150

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.

$250,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 3.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$32,541

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.55

    LIST RENT PER SQFT
  • $1,525

    COMP ESTIMATED VALUE
  • $0.58

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,6954$1,800
$1,800
RENT COMPS ANALYSIS
  • 2508 Blue Moss Drive Dallas, NC 1
    • 3 beds 3 baths ∙ 2,630 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,630 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.55
    •  
  • 504 W Trade Street Dallas, NC 2
    • 4 beds 3 baths ∙ 2,818 Sqft ∙ Built 1945 4 beds 3 baths ∙ 2,818 Sqft ∙ Built 1945
    LEASED 10/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.53
    •  
  • 2849 Meadow Creek Drive Dallas, NC 3
    • 4 beds 3 baths ∙ 2,747 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,747 Sqft ∙ Built 2014
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.62
    •  
  • 1957 Eastway Drive Dallas, NC 4
    • 4 beds 3 baths ∙ 2,885 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,885 Sqft ∙ Built 2017
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.62
    •  
PROPERTY LISTING DETAILS
Phoutsa Vang
1.704.281.1693
Wilkinson Era Real Estate
BESbswy