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2631 Filson Court Charlotte, NC 28214

3 Beds 3 Baths 2,535 sqft Built 2008

$332,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $130.97
  • 7 Days on Market
  • MLS # : 3693108
  • Updated Date : 01/06/2021 at 16:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,535 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Charlotte two-story cul-de-sac home offers a patio, granite countertops, and a two-car garage. This home is vacant and cleaned regularly.

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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: Harwood Lane

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $107k235k

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

Neighborhood: Harwood Lane

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8351518

* 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
Hopewell High School High Regular 1,653 87 3

Mountain Island Lake Academy

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

Hopewell High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 87
3
GreatSchools Rating
 

$298,800$365,200$332,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,153
Property Tax -$289
Property Insurance -$75
HOA -$50
Property Management Fees -$119
CASH FLOW
-$26

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.

$332,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.4%
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$1.2M

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,730

INVESTMENT

$93,730

Down Payment
$83,000
Rehab Estimate
$5,750
Closing Costs
$4,980

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,153

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,000
Loan Amount $249,000
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$14,622

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,698

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,6504$1,6605$1,700
$1,700
RENT COMPS ANALYSIS
  • 2631 Filson Court Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,535 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,535 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.65
    •  
  • 9540 Brighthaven Lane Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,430 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,430 Sqft ∙ Built 2006
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.66
    •  
  • 10233 Broken Stone Court Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,402 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,402 Sqft ∙ Built 2010
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.69
    •  
  • 1919 Sugarbush Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,445 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,445 Sqft ∙ Built 2005
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.67
    •  
  • 10317 Old Carolina Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,566 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,566 Sqft ∙ Built 2002
    property image
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.66
    •  
PROPERTY LISTING DETAILS
Verria Hairston
1.704.751.0133
Opendoor Brokerage Llc
BESbswy