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2661 Saddlewood Circle Concord, NC 28027

3 Beds 2 Baths 1,340 sqft Built 1991

$240,000

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $179.10
  • 6 Days on Market
  • MLS # : 3718729
  • Updated Date : 03/19/2021 at 21:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,340 sqft
  • Baths : 2 full
Listing Agent

Sgr Realty

Listing Agent's Description

Multiple Offers Received. Please submit all offers by 6PM deadline on Saturday 3/20. Beautiful ranch with a fantastic level yard! Great, fenced in back yard. Brand new updated flooring throughout the entire house! Large Living Room with gas fireplace. Open Floor plan with a ton of light from all the windows. New updated kitchen with beautiful and clean subway tile backsplash. Secondary bedrooms are a good size with spacious closets. Master bedroom with attached bath! Outside you will enjoy a deck that is the perfect spot for grilling or simply relaxing in your own peaceful environment. Great Curb appeal from the front yard. Attached carport with utility room that offers the perfect spot for tools or a hobby. NO HOA!

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: Old South

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k227k

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

Neighborhood: Old South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400Rent in $6771447

* 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
Wolf Meadow Elementary School Primary Regular 594 42 3
Harold Winkler Middle School Middle Regular 978 60 6
Jay M Robinson High School High Regular 1,339 86 3

Wolf Meadow Elementary School

  • Education Level: Primary
  • # of students: 594
  • # of teachers: 42
3
GreatSchools Rating

Harold Winkler Middle School

  • Education Level: Middle
  • # of students: 978
  • # of teachers: 60
6
GreatSchools Rating

Jay M Robinson High School

  • Education Level: High
  • # of students: 1,339
  • # of teachers: 86
3
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$834
Property Tax -$254
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$9

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.

$240,000

PROJECTED PRICE

$1,250

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$12,019

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,189

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2953$1,2994$1,2995$1,495
$1,495
RENT COMPS ANALYSIS
  • 2661 Saddlewood Circle Concord, NC 1
    • 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.93
    •  
  • 526 Railway Place Sw Concord, NC 2
    • 3 beds 3 baths ∙ 1,498 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,498 Sqft ∙ Built 2001
    property image
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.86
    •  
  • 3969 Hollows Glen Court Sw Concord, NC 3
    • 4 beds 2 baths ∙ 1,511 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,511 Sqft ∙ Built 1998
    property image
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.86
    •  
  • 2872 Rockingham Court Sw Concord, NC 4
    • 3 beds 3 baths ∙ 1,396 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,396 Sqft ∙ Built 1999
    property image
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.93
    •  
  • 3046 Talledaga Lane Concord, NC 5
    • 4 beds 3 baths ∙ 1,665 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,665 Sqft ∙ Built 2000
    property image
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.90
    •  
PROPERTY LISTING DETAILS
Brad Czecholinski
1.704.606.5995
Sgr Realty
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3718729
Last Updated: 03/19/2021
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