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2636 Poplar Cove Drive # 7 Concord, NC 28027

4 Beds 3 Baths 2,332 sqft Built 2020

INVESTimate

$327,800

List Price

$1,770

$1,593 - $1,947

Rent Est.

$345,075  ( +5.27%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $140.57
  • 6 Days on Market
  • MLS # : 3654483
  • Updated Date : 08/21/2020 at 17:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,332 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty Point

Listing Agent's Description

This beautiful kitchen with Ubatuba granite countertops and beautful white cabinets with soft close drawers!! Center island with white farm sink and darker island cabinetry. Oil rubbed bronze fixtures and fireplace with marble surround. Garden tub and seperate shower in master bath.

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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

Zip Code: 28027

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $113k248k

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

Zip Code: 28027

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8401526

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$295,020$360,580$327,800

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,209
Property Tax -$346
Property Insurance -$71
HOA -$27
Property Management Fees -$159
CASH FLOW
-$43

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.

$327,800

PROJECTED PRICE

$1,770

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.27%
Maintenance Year (1-5) 3.00%
Vacancy 6.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,867

INVESTMENT

$88,867

Down Payment
$81,950
Rehab Estimate
$2,000
Closing Costs
$4,917

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,209

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,950
Loan Amount $245,850
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$11,642

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,749

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,6454$1,7705$1,800
$1,800
RENT COMPS ANALYSIS
  • 2636 Poplar Cove Drive Concord, NC 4
    • 4 beds 3 baths ∙ 2,332 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,332 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.76
    •  
  • 3698 Lake Spring Avenue Concord, NC 1
    • 4 beds 3 baths ∙ 2,024 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,024 Sqft ∙ Built 1993
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.77
    •  
  • 1061 Fairway Ridge Drive Concord, NC 2
    • 4 beds 3 baths ∙ 2,490 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,490 Sqft ∙ Built 1990
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.64
    •  
  • 3659 Ivy Grove Court Concord, NC 3
    • 4 beds 3 baths ∙ 2,019 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,019 Sqft ∙ Built 1996
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.81
    •  
  • 553 Hamberton Court Concord, NC 5
    • 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
    •  
PROPERTY LISTING DETAILS
Jeff Royal
1.980.244.0675
Realty Point
BESbswy