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PROPERTY INFO
FACTS
- Single Family
- Built In 2017
- Price/Sqft : $154.67
- 3 Days on Market
- MLS # : 3694221
- Updated Date : 01/01/2021 at 15:49
CONSTRUCTION
- Beds : 3
- Floor Size : 1,972 sqft
- Baths : 2 full , 1 half
Listing Agent
Berkshire Hathaway Homeservices Carolinas Realty
Listing Agent's Description
Very well maintained 3 bed and 2.5 bathroom home! Upgraded kitchen with gas range, upgraded cabinets, stainless steel appliances and farmhouse sink. Upgrades in all bathrooms, Nest Thermostat, huge loft/flex space can be used for a second living room or office. Large Master bedroom, bathroom and walk in closet. Back yard has a custom built in swing, extended patio leading to a fire pit and is one of the most private lots in the neighborhood. Two car Garage has an epoxy floor, large overhead storage and built in work bench. Home is only 1.5 Miles from U.S. White Water Center and 13 Miles from center city!
SEE MORE
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Moores Chapel
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,500 |
| EXPENSES | Loan Payment | -$1,125 |
| Property Tax | -$274 | |
| Property Insurance | -$64 | |
| HOA | -$10 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$93
|
||
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.
$305,000
PROJECTED PRICE
$1,500
PROJECTED RENT
0.49%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$86,575
LOAN DETAILS
$1,125
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $76,250 |
| Loan Amount | $228,750 |
3.75
YEARS SAVED
$12,407
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,500
LIST RENT -
$0.76
LIST RENT PER SQFT
-
$1,509
COMP ESTIMATED VALUE -
$0.77
COMP AVG. RENT PER SQFT
Comps Range
-
2809 San Saba Street Charlotte, NC 3
- 3 beds 3 baths ∙ 1,972 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,972 Sqft ∙ Built 2017
![property image]()
- Rent
- Rent Per SQFT
- $1,500
- $0.76
-
2805 Belmeade Drive Charlotte, NC 1
- 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1963
![property image]()
LEASED 04/17/20- Rent
- Rent Per SQFT
- $1,350
- $0.80
-
749 Lumber Lane Charlotte, NC 2
- 3 beds 3 baths ∙ 1,730 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,730 Sqft ∙ Built 2007
![property image]()
LEASED 05/07/20- Rent
- Rent Per SQFT
- $1,400
- $0.81
-
10708 Ridge Acres Road Charlotte, NC 4
- 3 beds 3 baths ∙ 2,240 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,240 Sqft ∙ Built 1997
![property image]()
LEASED 11/05/19- Rent
- Rent Per SQFT
- $1,550
- $0.69
-
2444 Sonoma Valley Drive Charlotte, NC 5
- 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2007
![property image]()
LEASED 07/29/20- Rent
- Rent Per SQFT
- $1,650
- $0.72
PROPERTY LISTING DETAILS
1.704.576.3148
Berkshire Hathaway Homeservices Carolinas Realty
