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PROPERTY INFO
FACTS
- Single Family
- Built In 2005
- Price/Sqft : $164.18
- MLS # : CAR3760849
- Updated Date : 07/12/2021 at 17:45
CONSTRUCTION
- Beds : 3
- Floor Size : 1,675 sqft
- Baths : 2 full , 1 half
Listing Agent
Better Homes And Gardens Real Estate Paracle
Listing Agent's Description
Move in Ready home awaits you! This home has been fully renovated October 2020 with new vinyl plank floors, fresh paint, new light fixtures, full kitchen renovation with granite countertops, new cabinets, and new backsplash. Owner's Suite on the main floor with upgraded bathroom including new tile shower and floors, and granite countertops! Upstairs you'll find a large loft, great for entertaining or home office space, and two spacious bedrooms. Conveniently located close to uptown and Camp North End with plenty of restaurants and nightlife to choose from! Showings begin Thursday!
SEE MORE
- 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: Hamilton Circle
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Hamilton Circle
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,400 |
| EXPENSES | Loan Payment | -$955 |
| Property Tax | -$240 | |
| Property Insurance | -$59 | |
| HOA | -$23 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$5
|
||
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.
$275,000
PROJECTED PRICE
$1,400
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.94% |
| Appreciation Year (1-5) | 9.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.02% |
| 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
$78,625
LOAN DETAILS
$955
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $68,750 |
| Loan Amount | $206,250 |
5.33
YEARS SAVED
$15,094
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,400
LIST RENT -
$0.84
LIST RENT PER SQFT
-
$1,436
COMP ESTIMATED VALUE -
$0.86
COMP AVG. RENT PER SQFT
Comps Range
-
2718 Cochrane Drive Charlotte, NC 3
- 3 beds 3 baths ∙ 1,675 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,675 Sqft ∙ Built 2005
![property image]()
- Rent
- Rent Per SQFT
- $1,400
- $0.84
-
4526 Esmeralda Drive Charlotte, NC 1
- 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2013
![property image]()
LEASED 03/29/20- Rent
- Rent Per SQFT
- $1,395
- $0.79
-
2730 Cochrane Drive Charlotte, NC 2
- 4 beds 3 baths ∙ 1,612 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,612 Sqft ∙ Built 2005
![property image]()
LEASED 07/09/20- Rent
- Rent Per SQFT
- $1,400
- $0.87
-
3107 Meadow Knoll Drive Charlotte, NC 4
- 3 beds 3 baths ∙ 1,586 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,586 Sqft ∙ Built 2007
![property image]()
LEASED 05/17/21- Rent
- Rent Per SQFT
- $1,475
- $0.93
-
1417 Griers Grove Road Charlotte, NC 5
- 3 beds 3 baths ∙ 1,776 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,776 Sqft ∙ Built 2002
![property image]()
LEASED 05/11/21- Rent
- Rent Per SQFT
- $1,495
- $0.84
PROPERTY LISTING DETAILS
1.336.558.4165
Better Homes And Gardens Real Estate Paracle
