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2665 Wellshire Court Gastonia, NC 28056

5 Beds 4 Baths 3,102 sqft Built 2016

$339,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $109.28
  • 2 Days on Market
  • MLS # : 3715535
  • Updated Date : 03/06/2021 at 16:22
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,102 sqft
  • Baths : 3 full , 1 half
Listing Agent

Roby Realty Inc

Listing Agent's Description

Beautiful move in Ready one Owner Home, Open floor plan featuring Large kitchen with Granite counter tops, ceramic tile backsplash and tons of cabinets, Large Family room with gas log fireplace, Dining Room, Large first floor Office, Expansive Master suite featuring huge master bath and walk in closet, 3 Additional bedrooms and Huge Bonus/bedroom With Jack and Jill Bath Upgraded ceiling fans throughout, In ground irrigation with time control, Oversized extended patio ,Beautiful landscaping, Back yard extends to trees along property line, Custom built storage shelving throughout garage, Tons of upgrades too many to list, Must see home! Showings Start Sunday Please give one hour notice for showings

SEE MORE

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: 28056

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $81k213k

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

Zip Code: 28056

ZipNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400Rent in $6901460

* 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.a. Bess Elementary School Primary Regular 551 32 8
Cramerton Middle School Middle Regular 833 42 8
Forestview High School High Regular 1,143 63 7

W.a. Bess Elementary School

  • Education Level: Primary
  • # of students: 551
  • # of teachers: 32
8
GreatSchools Rating

Cramerton Middle School

  • Education Level: Middle
  • # of students: 833
  • # of teachers: 42
8
GreatSchools Rating

Forestview High School

  • Education Level: High
  • # of students: 1,143
  • # of teachers: 63
7
GreatSchools Rating
 

$305,100$372,900$339,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,177
Property Tax -$281
Property Insurance -$86
Property Management Fees -$119
CASH FLOW
$487

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.

$339,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 4.6%
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$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

12.25

YEARS SAVED

$65,508

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,327

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,075
1$2,0752$2,150
$2,150
RENT COMPS ANALYSIS
  • 2665 Wellshire Court Gastonia, NC 2
    • 5 beds 4 baths ∙ 3,102 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,102 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.69
    •  
  • 2425 Flintshire Lane Gastonia, NC 1
    • 4 beds 3 baths ∙ 2,768 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,768 Sqft ∙ Built 2011
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.75
    •  
PROPERTY LISTING DETAILS
Sandy Thomas
1.704.995.7463
Roby Realty Inc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3715535
Last Updated: 03/06/2021
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