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2525 Oakdale Road Charlotte, NC 28216

3 Beds 2 Baths 1,838 sqft Built 1966

$274,900

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
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

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 North

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $97k235k

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

Neighborhood: Oakdale North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350140014501500Rent in $7901518

* 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 Lake Academy Primary Regular 727 47 3
West Mecklenburg High School High Regular 2,040 108 1

Mountain Island Lake Academy

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

West Mecklenburg High School

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

$247,410$302,390$274,900

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
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$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

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
$1,350
1$1,3502$1,4403$1,4454$1,4495$1,495
$1,495
RENT COMPS ANALYSIS
  • 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
Chris Rich
1.704.517.2031
Sterling Brokerage Llc
BESbswy