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2762 Cypress Oak Lane Gastonia, NC 28056

3 Beds 3 Baths 2,746 sqft Built 2017

$319,900

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $116.50
  • 14 Days on Market
  • MLS # : 3715384
  • Updated Date : 03/20/2021 at 16:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,746 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Feast your eyes on this beautifully updated cul-de-sac home. Enjoy your morning coffee on the lovely front porch! On the first floor you’ll find an office and a dining room which is now staged as a piano room. Open concept with LVP flooring. The kitchen features beautiful granite countertops, a bead board backsplash and an oversized island with bar seating. The under mount lighting gives this space a beautiful ambience of tranquility. Like dining al fresco? Check out the back patio and fire pit for those chilly evenings! Upstairs you'll find the very spacious master bedroom complete with a double vanity and two walk in closets. The flex space could be a classroom, play room, office, workout room...the possibilities are endless! The laundry room is on the second floor with ceramic tile. There’s attic access in the second bedroom which is floored for an abundance of storage. We anticipate this beautiful property will not last long, book your showing today!

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: Bethesda Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $81k300k

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

Neighborhood: Bethesda Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600170018001900Rent in $6901962

* 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
Lowell Elementary School Primary Regular 537 31 4
Holbrook Middle School Middle Regular 731 40 6
Ashbrook High School High Regular 1,436 89 4

Lowell Elementary School

  • Education Level: Primary
  • # of students: 537
  • # of teachers: 31
4
GreatSchools Rating

Holbrook Middle School

  • Education Level: Middle
  • # of students: 731
  • # of teachers: 40
6
GreatSchools Rating

Ashbrook High School

  • Education Level: High
  • # of students: 1,436
  • # of teachers: 89
4
GreatSchools Rating
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,111
Property Tax -$265
Property Insurance -$79
HOA -$47
Property Management Fees -$119
CASH FLOW
$269

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.

$319,900

PROJECTED PRICE

$1,890

PROJECTED RENT

0.59%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$41,634

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,794

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,5853$1,8904$2,000
$2,000
RENT COMPS ANALYSIS
  • 2762 Cypress Oak Lane Gastonia, NC 3
    • 3 beds 3 baths ∙ 2,746 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,746 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.69
    •  
  • 315 S Church Street Gastonia, NC 1
    • 4 beds 2 baths ∙ 2,744 Sqft ∙ Built 1948 4 beds 2 baths ∙ 2,744 Sqft ∙ Built 1948
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.50
    •  
  • 3709 Tranquil Court Gastonia, NC 2
    • 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 2005
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $0.66
    •  
  • 5612 Amelia Lane Gastonia, NC 4
    • 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2020
    LEASED 03/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
PROPERTY LISTING DETAILS
Matthew Hanks
1.704.850.6818
Exp Realty Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3715384
Last Updated: 03/20/2021
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