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2535 Botanical Court Concord, NC 28027

4 Beds 3 Baths 2,596 sqft Built 2012

$359,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $138.29
  • 3 Days on Market
  • MLS # : 3654094
  • Updated Date : 01/23/2021 at 16:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,596 sqft
  • Baths : 3 full
Listing Agent

Ivykline Properties, Llc

Listing Agent's Description

Charleston style living right in Concord. This beautiful home features an open floor plan, 9' ceilings & 8'doors, hardwood floors, granite, stainless appliances, open loft, large master en suite and a 4th bedroom and full bath on the main floor. The custom built ins throughout the home make organization a dream. Don't wait too long, this home will go fast!!

SEE MORE

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: Mountain Laurel

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k326k

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

Neighborhood: Mountain Laurel

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8401940

* 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
Weddington Hills Elementary School Primary Regular 917 57 5
Northwest Cabarrus Middle School Middle Regular 905 58 4
Northwest Cabarrus High School High Regular 1,198 72 3

Weddington Hills Elementary School

  • Education Level: Primary
  • # of students: 917
  • # of teachers: 57
5
GreatSchools Rating

Northwest Cabarrus Middle School

  • Education Level: Middle
  • # of students: 905
  • # of teachers: 58
4
GreatSchools Rating

Northwest Cabarrus High School

  • Education Level: High
  • # of students: 1,198
  • # of teachers: 72
3
GreatSchools Rating
 

$323,100$394,900$359,000

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 -$1,247
Property Tax -$391
Property Insurance -$76
HOA -$43
Property Management Fees -$119
CASH FLOW
$54

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.

$359,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 4.3%
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$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$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,247

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$21,310

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
  • $0.74

    LIST RENT PER SQFT
  • $1,992

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8003$1,9304$1,9505$2,195
$2,195
RENT COMPS ANALYSIS
  • 2535 Botanical Court Concord, NC 3
    • 4 beds 3 baths ∙ 2,596 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,596 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.74
    •  
  • 2558 Sunberry Lane Concord, NC 1
    • 4 beds 4 baths ∙ 2,332 Sqft ∙ Built 2002 4 beds 4 baths ∙ 2,332 Sqft ∙ Built 2002
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.73
    •  
  • 553 Hamberton Court Concord, NC 2
    • 3 beds 3 baths ∙ 2,512 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,512 Sqft ∙ Built 2003
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.72
    •  
  • 533 Montgrove Place Nw Concord, NC 4
    • 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 2006
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.72
    •  
  • 619 Harrison Drive Concord, NC 5
    • 5 beds 3 baths ∙ 2,627 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,627 Sqft ∙ Built 2007
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.84
    •  
PROPERTY LISTING DETAILS
Jacquelyn Briscoe Cavitt
1.704.960.5932
Ivykline Properties, Llc
BESbswy