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2715 Oasis Lane Charlotte, NC 28214

3 Beds 3 Baths 1,435 sqft Built 2001

$199,900

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $139.30
  • 3 Days on Market
  • MLS # : 3714145
  • Updated Date : 03/06/2021 at 18:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,435 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty Dynamics Inc.

Listing Agent's Description

Wonderful home with bamboo hardwood flooring through most of the home. Tiled entry to living room. Gorgeous tile floors in kitchen, stainless steel appliances. Home includes refrigerator, washer, and dryer. Huge kitchen includes large pantry, microwave, and lighting. Cozy living room has gas fireplace, lovely mantel, and ceiling fan. Three large bedrooms each with walk in closet. Private rear yard with shed. Oversized garage with extra storage space and multiple parking spaces. Mature neighborhood close to I485 and the Whitewater Center. Convenient to all areas of the city both north, south, and central. The sellers have received multiple offers and are asking for Highest and Best by tomorrow, Sunday March 7th at 7:00pm.

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

Neighborhood: Moores Chapel

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Moores Chapel

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771518

* 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
Whitewater Academy Primary Unknown NA
Whitewater Middle School Middle Regular 924 53 5
West Mecklenburg High School High Regular 2,040 108 1

Whitewater Academy

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

Whitewater Middle School

  • Education Level: Middle
  • # of students: 924
  • # of teachers: 53
5
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$694
Property Tax -$174
Property Insurance -$54
HOA -$16
Property Management Fees -$119
CASH FLOW
$243

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.

$199,900

PROJECTED PRICE

$1,300

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.5%
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$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$694

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

11.33

YEARS SAVED

$34,270

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,324

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,299
1$1,2992$1,3003$1,3004$1,3495$1,425
$1,425
RENT COMPS ANALYSIS
  • 2715 Oasis Lane Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,435 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,435 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.91
    •  
  • 661 Tribune Drive Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,548 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,548 Sqft ∙ Built 2006
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.84
    •  
  • 2613 Oasis Lane Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,335 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,335 Sqft ∙ Built 2002
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.97
    •  
  • 10437 Hugue Way Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 2003
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.94
    •  
  • 2614 Blue Bridge Court Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,518 Sqft ∙ Built 3 beds 3 baths ∙ 1,518 Sqft ∙ Built
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.94
    •  
PROPERTY LISTING DETAILS
Stephen Scott
1.704.779.6194
Realty Dynamics Inc.
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3714145
Last Updated: 03/06/2021
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