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PROPERTY INFO
FACTS
- Single Family
- Built In 1999
- Price/Sqft : $135.38
- 7 Days on Market
- MLS # : 3689306
- Updated Date : 12/12/2020 at 00:05
CONSTRUCTION
- Beds : 3
- Floor Size : 1,625 sqft
- Baths : 2 full , 1 half
Listing Agent
Beckett Avenue Realty
Listing Agent's Description
Location, location, location! Near the bustling Copperfield area of Concord, close to the Medical Campus of Atrium Northeast, I-85, and the Branchview bypass, this excellent home is all about convenience and a wonderful place to live. The level homesite backs up to neighborhood common area and is large and full of potential. The low maintenance vinyl exterior welcomes you to a freshly painted home with new carpet, functional kitchen with stainless steel appliances, and a roomy owners suite with a full on-suite bath. Upgraded garage door opener and thermostat systems are WIFI ready and can be controlled via smart phone app or smart phone system. Coming Soon with showings beginning Saturday 12/12/2020.
SEE MORE
- 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: Governors Point
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Governors Point
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,400 |
| EXPENSES | Loan Payment | -$812 |
| Property Tax | -$257 | |
| Property Insurance | -$58 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$155
|
||
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.
$220,000
PROJECTED PRICE
$1,400
PROJECTED RENT
0.64%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 5.9% |
| 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
$64,050
LOAN DETAILS
$812
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $55,000 |
| Loan Amount | $165,000 |
8.5
YEARS SAVED
$28,845
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,400
LIST RENT -
$0.86
LIST RENT PER SQFT
-
$1,402
COMP ESTIMATED VALUE -
$0.86
COMP AVG. RENT PER SQFT
Comps Range
-
2548 Governors Pointe Court Ne Concord, NC 5
- 3 beds 3 baths ∙ 1,625 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,625 Sqft ∙ Built 1999
![property image]()
- Rent
- Rent Per SQFT
- $1,400
- $0.86
-
386 Aycock Street Concord, NC 1
- 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1948
![property image]()
LEASED 01/22/20- Rent
- Rent Per SQFT
- $1,250
- $0.88
-
538 Goldmoor Drive Concord, NC 2
- 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 1963
![property image]()
LEASED 03/05/20- Rent
- Rent Per SQFT
- $1,350
- $0.84
-
2596 Captains Watch Road Kannapolis, NC 3
- 3 beds 3 baths ∙ 1,496 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,496 Sqft ∙ Built 2006
![property image]()
LEASED 04/02/20- Rent
- Rent Per SQFT
- $1,350
- $0.90
-
200 Little Street Kannapolis, NC 4
- 4 beds 3 baths ∙ 1,660 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,660 Sqft ∙ Built 2019
![property image]()
LEASED 01/27/20- Rent
- Rent Per SQFT
- $1,375
- $0.83
PROPERTY LISTING DETAILS
1.704.807.3147
Beckett Avenue Realty
