Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2625 Swamp Chestnut Oak Drive #356 Gastonia, NC 28056

4 Beds 4 Baths 2,791 sqft Built 2021

$382,249

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $136.96
  • 3 Days on Market
  • MLS # : 3712774
  • Updated Date : 02/27/2021 at 10:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,791 sqft
  • Baths : 3 full , 1 half
Listing Agent

Lennar Sales Corp

Listing Agent's Description

JUST BACK ON THE MARKET. This is a gem in a community with limited inventory. Unique homesite next to common open space with trees behind. Beautiful open plan with butler's pantry in the kitchen, screened in back patio, and loft on second level. Community pool and playground.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Bethesda Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $81k300k

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

Neighborhood: Bethesda Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600170018001900Rent in $6901962

* 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
Lowell Elementary School Primary Regular 537 31 4
Holbrook Middle School Middle Regular 731 40 6
Ashbrook High School High Regular 1,436 89 4

Lowell Elementary School

  • Education Level: Primary
  • # of students: 537
  • # of teachers: 31
4
GreatSchools Rating

Holbrook Middle School

  • Education Level: Middle
  • # of students: 731
  • # of teachers: 40
6
GreatSchools Rating

Ashbrook High School

  • Education Level: High
  • # of students: 1,436
  • # of teachers: 89
4
GreatSchools Rating
 

$344,024$420,474$382,249

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,328
Property Tax -$247
Property Insurance -$80
HOA -$48
Property Management Fees -$119
CASH FLOW
$118

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$382,249

PROJECTED PRICE

$1,940

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 3.00%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$103,296

INVESTMENT

$103,296

Down Payment
$95,562
Rehab Estimate
$2,000
Closing Costs
$5,734

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,562
Loan Amount $286,687
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$31,497

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,989

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,9403$2,0754$2,0755$2,125
$2,125
RENT COMPS ANALYSIS
  • 2625 Swamp Chestnut Oak Drive Gastonia, NC 2
    • 4 beds 4 baths ∙ 2,791 Sqft ∙ Built 2021 4 beds 4 baths ∙ 2,791 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.70
    •  
  • 315 S Church Street Gastonia, NC 1
    • 4 beds 2 baths ∙ 2,744 Sqft ∙ Built 1948 4 beds 2 baths ∙ 2,744 Sqft ∙ Built 1948
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.50
    •  
  • 4918 Trayton Avenue Gastonia, NC 3
    • 5 beds 4 baths ∙ 2,698 Sqft ∙ Built 2019 5 beds 4 baths ∙ 2,698 Sqft ∙ Built 2019
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.77
    •  
  • 4911 Trayton Avenue Gastonia, NC 4
    • 5 beds 4 baths ∙ 2,698 Sqft ∙ Built 2019 5 beds 4 baths ∙ 2,698 Sqft ∙ Built 2019
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.77
    •  
  • 6177 Rosemore Lane Gastonia, NC 5
    • 5 beds 4 baths ∙ 2,698 Sqft ∙ Built 2019 5 beds 4 baths ∙ 2,698 Sqft ∙ Built 2019
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $0.79
    •  
PROPERTY LISTING DETAILS
Caitlin Marchillo
1.704.770.8916
Lennar Sales Corp
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3712774
Last Updated: 02/27/2021
BESbswy