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2641 Treeline Drive Concord, NC 28027

4 Beds 4 Baths 3,322 sqft Built 2015

$419,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $126.13
  • 5 Days on Market
  • MLS # : 3709268
  • Updated Date : 02/19/2021 at 17:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,322 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Amazing opportunity in one of Concord's hottest neighborhoods! This immaculately maintained home has so much to boast about...enjoy a covered front porch, an open floor plan with gourmet kitchen, a butler's pantry and large walk-in pantry, and a full guest suite/in-law suite on main floor. Upstairs the Master Suite overlooks the woods behind the home, and has a gorgeous bathroom with stand-up shower, large tub, and dual vanities. Get lost in the HUGE walk-in closet with access to the laundry room! Two other generously sized bedrooms, a full bathroom with two sinks, and a bonus room with built-ins round out the second floor. Tons of upgrades throughout: light fixtures, granite, cabinetry, iron spindles on staircase, and beautiful trim. Neighborhood has outdoor pool, club house, tennis courts, and a playground. It's conveniently located to I-85, restaurants and shopping, and is currently zoned for award-winning CabCo schools.

SEE MORE

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: Wellington Chase

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $118k416k

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

Neighborhood: Wellington Chase

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900200021002200Rent in $8402282

* 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
W R Odell Elementary School Primary Regular 882 52 NA
Harris Road Middle School Middle Regular 1,185 63 9
Cox Mill High School High Regular 1,478 76 7

W R Odell Elementary School

  • Education Level: Primary
  • # of students: 882
  • # of teachers: 52
NA
GreatSchools Rating

Harris Road Middle School

  • Education Level: Middle
  • # of students: 1,185
  • # of teachers: 63
9
GreatSchools Rating

Cox Mill High School

  • Education Level: High
  • # of students: 1,478
  • # of teachers: 76
7
GreatSchools Rating
 

$377,100$460,900$419,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,455
Property Tax -$394
Property Insurance -$90
HOA -$48
Property Management Fees -$119
CASH FLOW
$184

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$419,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
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$1.4M

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$116,785

INVESTMENT

$116,785

Down Payment
$104,750
Rehab Estimate
$5,750
Closing Costs
$6,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,455

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,750
Loan Amount $314,250
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$41,632

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,467

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2903$2,6004$2,7505$2,800
$2,800
RENT COMPS ANALYSIS
  • 2641 Treeline Drive Concord, NC 2
    • 4 beds 4 baths ∙ 3,322 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,322 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.69
    •  
  • 1572 Duckhorn Street Concord, NC 1
    • 4 beds 4 baths ∙ 3,500 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,500 Sqft ∙ Built 2005
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.63
    •  
  • 2589 Shoal Park Road Concord, NC 3
    • 4 beds 4 baths ∙ 3,286 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,286 Sqft ∙ Built 2016
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.79
    •  
  • 2617 Mill Wright Road Concord, NC 4
    • 4 beds 5 baths ∙ 3,393 Sqft ∙ Built 2015 4 beds 5 baths ∙ 3,393 Sqft ∙ Built 2015
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.81
    •  
  • 2082 Feldspar Drive Davidson, NC 5
    • 5 beds 4 baths ∙ 3,644 Sqft ∙ Built 2014 5 beds 4 baths ∙ 3,644 Sqft ∙ Built 2014
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.77
    •  
PROPERTY LISTING DETAILS
Nicole Berry
1.704.201.3860
Exp Realty Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3709268
Last Updated: 02/19/2021
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