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2527 Olde Whitehall Road Charlotte, NC 28273

3 Beds 2 Baths 1,368 sqft Built 1986

$194,900

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $142.47
  • 7 Days on Market
  • MLS # : 3692989
  • Updated Date : 12/26/2020 at 13:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,368 sqft
  • Baths : 2 full
Listing Agent

Acam Investments Llc

Listing Agent's Description

Wooded corner lot makes a beautiful setting for this cute cape cod home in Olde Whitehall!! Stainless appliances in kitchen with washer, dryer, and refrigerator included. Spacious master with two separate closets with one being a walk-in. Enjoy your coffee either on the front covered porch or the wood deck in back!!

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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: Olde Whitehall

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $108k235k

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

Neighborhood: Olde Whitehall

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8201518

* 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
Steele Creek Elementary School Primary Regular 737 43 6
Kennedy Middle School Middle Regular 722 43 4
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

Steele Creek Elementary School

  • Education Level: Primary
  • # of students: 737
  • # of teachers: 43
6
GreatSchools Rating

Kennedy Middle School

  • Education Level: Middle
  • # of students: 722
  • # of teachers: 43
4
GreatSchools Rating

Math, Engineering, Technology And Science At Olympic High School

  • Education Level: High
  • # of students: 607
  • # of teachers: 28
7
GreatSchools Rating
 

$175,410$214,390$194,900

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$719
Property Tax -$179
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$210

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.

$194,900

PROJECTED PRICE

$1,280

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 6.7%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,399

INVESTMENT

$57,399

Down Payment
$48,725
Rehab Estimate
$5,750
Closing Costs
$2,924

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,725
Loan Amount $146,175
See What Happens When You Reinvest Cash Flow

10.5

YEARS SAVED

$35,380

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,289

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,280
1$1,2802$1,3503$1,4004$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 2527 Olde Whitehall Road Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.94
    •  
  • 7322 Captain Neal Lane Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1988
    LEASED 09/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.93
    •  
  • 7130 Lanark Court Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,527 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,527 Sqft ∙ Built 1994
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.92
    •  
  • 2417 Snow Creek Lane Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,596 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,596 Sqft ∙ Built 1990
    LEASED 07/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.94
    •  
  • 2523 Thornfield Road Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,535 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,535 Sqft ∙ Built 1997
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.98
    •  
PROPERTY LISTING DETAILS
Rich Russell
1.980.269.8931
Acam Investments Llc
BESbswy