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PROPERTY INFO
FACTS
- Single Family
- Built In 2003
- Price/Sqft : $116.24
- 6 Days on Market
- MLS # : 3690864
- Updated Date : 12/19/2020 at 22:53
CONSTRUCTION
- Beds : 4
- Floor Size : 3,011 sqft
- Baths : 2 full , 1 half
Listing Agent
Joseph C Mason
Listing Agent's Description
WELCOME TO YOUR STUNNING HOME IN THE DESIRABLE HOT UNIVERSITY AREA!!! STARTING FROM THE FRONT CUSTOM STYLE ELEVATION .THIS HOME OFFERS A GRAND 2 STORY APPEAL ,THAT MAKES YOU FEEL RIGHT AT HOME. FROM THE FORMAL DINNING RM TO THE LEFT AS YOU STEP IN THE FOYER OR ENJOY YOUR PRIVATE STUDY/OFFICE TO THE RIGHT. THESE DETAILED ROOMS FLOW INTO THE LRG EAT IN KITCHEN WITH BREAKFAST AREA+ CENTER ISLAND, NEW GRANITE COUNTERTOPS , NEW TILE FLOORING THAT FLOWS INTO THE HUGE 2 STORY GREAT RM WITH GAS FIREPLACE,NEW LUXURY FLOORING. ENJOY CASUAL READING, RELAXING OR ENTERTAINING IN THE FIRST FLOOR FLEX-RM & SUNRM THAT OFFERS TRANQUIL VEIWS OF YOUR CUSTOM OVERSIZED PATIO , STORAGE BLDING & LRG PRIVATELY FENCED USABLE BACKYARD. WALK UPSTAIRS TO YOUR ARCHED BALCONY THAT OVERLOOKS THE LRG 2 STORY GREAT RM. THEN STEP INTO 1 OF YOUR 4 BEDRMS. FIND RELAXATION IN YOUR OVERSIZED MASTER BEDRM W VAULTED CEILING, BEAUTIFUL FIREPLACE, LRG WINDOWS W/NATURAL LIGHT. DBLE SINKS, GARDEN TUB, LRG WALK-IN CLOSET.
SEE MORE
- 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: Newell
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Newell
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,930 |
| EXPENSES | Loan Payment | -$1,291 |
| Property Tax | -$305 | |
| Property Insurance | -$84 | |
| HOA | -$16 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$115
|
||
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.
$350,000
PROJECTED PRICE
$1,930
PROJECTED RENT
0.55%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 7.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$98,500
LOAN DETAILS
$1,291
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $87,500 |
| Loan Amount | $262,500 |
6.67
YEARS SAVED
$33,357
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,930
LIST RENT -
$0.64
LIST RENT PER SQFT
-
$1,731
COMP ESTIMATED VALUE -
$0.58
COMP AVG. RENT PER SQFT
Comps Range
-
2517 Waters Vista Circle Charlotte, NC 4
- 4 beds 3 baths ∙ 3,011 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,011 Sqft ∙ Built 2003
![property image]()
- Rent
- Rent Per SQFT
- $1,930
- $0.64
-
2308 Katherine Kiker Road Charlotte, NC 1
- 4 beds 3 baths ∙ 2,866 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,866 Sqft ∙ Built 1989
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LEASED 11/14/19- Rent
- Rent Per SQFT
- $1,595
- $0.56
-
9911 Jeanette Circle Charlotte, NC 2
- 4 beds 3 baths ∙ 3,127 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,127 Sqft ∙ Built 2004
![property image]()
LEASED 05/26/20- Rent
- Rent Per SQFT
- $1,775
- $0.57
-
2605 Impatien Drive Charlotte, NC 3
- 4 beds 3 baths ∙ 3,210 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,210 Sqft ∙ Built 2015
![property image]()
LEASED 12/06/19- Rent
- Rent Per SQFT
- $1,815
- $0.57
-
3014 Oconee Lane Charlotte, NC 5
- 5 beds 3 baths ∙ 3,310 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,310 Sqft ∙ Built 2002
![property image]()
LEASED 02/06/20- Rent
- Rent Per SQFT
- $1,995
- $0.60
PROPERTY LISTING DETAILS
1.704.451.3555
Joseph C Mason
