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2517 Waters Vista Circle Charlotte, NC 28213

4 Beds 3 Baths 3,011 sqft Built 2003

$350,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
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.

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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: Newell

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $108k235k

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

Neighborhood: Newell

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8261518

* 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
University Meadows Elementary School Primary Regular 657 45 4
James Martin Middle School Middle Regular 1,113 54 3
Vance High School High Regular 1,714 91 3

University Meadows Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 45
4
GreatSchools Rating

James Martin Middle School

  • Education Level: Middle
  • # of students: 1,113
  • # of teachers: 54
3
GreatSchools Rating

Vance High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 91
3
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

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
$1,595
1$1,5952$1,7753$1,8154$1,9305$1,995
$1,995
RENT COMPS ANALYSIS
  • 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
    property image
    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
Jay Mason
1.704.451.3555
Joseph C Mason
BESbswy