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2720 San Saba Street Charlotte, NC 28214

4 Beds 3 Baths 2,529 sqft Built 2017

$350,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $138.39
  • 9 Days on Market
  • MLS # : 3720460
  • Updated Date : 03/27/2021 at 18:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,529 sqft
  • Baths : 3 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Welcome home to this beautiful 4 bedroom, 3 bathroom property located at the end of the street! The main floor features beautiful hardwoods throughout and a bedroom and full bath for guests! Upstairs you will find ta huge loft area/bonus room, front facing balcony that is perfect for enjoying your morning coffee, the private master bedroom & bathroom with a tub and shower along with a spacious walk-in closet. This home has many added features such as a covered & extend patio, garage sink, in-ceiling surround sound in the living room, fenced yard, and so much more! The backyard is quiet and private with 3/4 of the property surrounded by beautiful nature. This home is conveniently located just around the corner from the U.S. National Whitewater Center and minutes from Downtown Belmont! Schedule your tour today!

SEE MORE

MARKET HIGHLIGHTS

  • 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: 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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,216
Property Tax -$323
Property Insurance -$75
HOA -$10
Property Management Fees -$119
CASH FLOW
-$52

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.

$350,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.48%

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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$14,598

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,865

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6503$1,6904$1,7455$1,925
$1,925
RENT COMPS ANALYSIS
  • 2720 San Saba Street Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,529 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,529 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.67
    •  
  • 10708 Ridge Acres Road Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,240 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,240 Sqft ∙ Built 1997
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.69
    •  
  • 2444 Sonoma Valley Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2007
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.72
    •  
  • 1244 San Gabriel Avenue Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2016
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.73
    •  
  • 1319 San Gabriel Avenue Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,509 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,509 Sqft ∙ Built 2016
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.77
    •  
PROPERTY LISTING DETAILS
Kyle Bender
1.704.665.0007
Exp Realty Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3720460
Last Updated: 03/27/2021
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