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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Wellington Chase
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$116,785
LOAN DETAILS
$1,455
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $104,750 |
| Loan Amount | $314,250 |
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
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2641 Treeline Drive Concord, NC 2
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1572 Duckhorn Street Concord, NC 1
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LEASED 07/16/20- Rent
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- $2,200
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- 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
1.704.201.3860
Exp Realty Llc
MLS #: 3709268
Last Updated: 02/19/2021
