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PROPERTY INFO
FACTS
- Single Family
- Built In 1966
- Price/Sqft : $149.56
- 3 Days on Market
- MLS # : 3696530
- Updated Date : 01/08/2021 at 16:46
CONSTRUCTION
- Beds : 3
- Floor Size : 1,838 sqft
- Baths : 2 full
Listing Agent
Sterling Brokerage Llc
Listing Agent's Description
Welcome home to this beautiful, 1+ acre property just minutes from all Uptown Charlotte has to offer! Tastefully updated over the last few years, this well-maintained 3b/2ba sits on a beautiful private lot with convenient attached 2 car garage! Open floor-plan with formal dining, living, and den areas allow for wonderful flow through the home. The inviting and large front Sunroom is a fantastic for entertaining or just enjoying the beautiful, natural scenery. Sizable Master Bedroom with attached full bath and a newer double vanity in the shared bath make this ranch super comfortable and inviting. The amazing location is super close to US Whitewater center, Uptown Charlotte, and I-77/485- making all Charlotte has to offer minutes away! Don't miss out on this rare opportunity!
SEE MORE
- 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 North
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Oakdale North
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,440 |
| EXPENSES | Loan Payment | -$955 |
| Property Tax | -$240 | |
| Property Insurance | -$62 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$65
|
||
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.
$274,900
PROJECTED PRICE
$1,440
PROJECTED RENT
0.52%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 9.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$78,599
LOAN DETAILS
$955
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $68,725 |
| Loan Amount | $206,175 |
6.33
YEARS SAVED
$19,825
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,440
LIST RENT -
$0.78
LIST RENT PER SQFT
-
$1,443
COMP ESTIMATED VALUE -
$0.78
COMP AVG. RENT PER SQFT
Comps Range
-
2525 Oakdale Road Charlotte, NC 2
- 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 1966
- Rent
- Rent Per SQFT
- $1,440
- $0.78
-
7033 Sunman Road Charlotte, NC 1
- 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 2005
LEASED 11/04/19- Rent
- Rent Per SQFT
- $1,350
- $0.82
-
6219 Elliott Drive Charlotte, NC 3
- 3 beds 3 baths ∙ 1,936 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,936 Sqft ∙ Built 2006
LEASED 03/31/20- Rent
- Rent Per SQFT
- $1,445
- $0.75
-
5936 Sanders Farm Lane Charlotte, NC 4
- 3 beds 3 baths ∙ 1,759 Sqft ∙ Built 3 beds 3 baths ∙ 1,759 Sqft ∙ Built
LEASED 04/30/20- Rent
- Rent Per SQFT
- $1,449
- $0.82
-
6439 Wedron Court Charlotte, NC 5
- 3 beds 3 baths ∙ 1,984 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,984 Sqft ∙ Built 2003
LEASED 04/24/20- Rent
- Rent Per SQFT
- $1,495
- $0.75
PROPERTY LISTING DETAILS
1.704.517.2031
Sterling Brokerage Llc
