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2809 South Point Road #13 Belmont, NC 28012

4 Beds 3 Baths 2,765 sqft Built 2021

$429,990

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $155.51
  • 4 Days on Market
  • MLS # : 3709980
  • Updated Date : 02/18/2021 at 12:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,765 sqft
  • Baths : 3 full
Listing Agent

Carolinas Realty Connection Llc

Listing Agent's Description

New Construction! 4 bedroom- Master down 3 full bath. Open floorplan with office and a flex space/room on main level. Buyers can still make interior exterior color selections until framing starts. Plan, plat an standard features in the attachments.

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: Lower Peninsula

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210kPrice in $113k213k

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

Neighborhood: Lower Peninsula

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350Rent in $8421396

* 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
Belmont Central Elementary School Primary Regular 678 35 7
Belmont Middle School Middle Regular 726 39 6
South Point High School High Regular 1,101 61 6

Belmont Central Elementary School

  • Education Level: Primary
  • # of students: 678
  • # of teachers: 35
7
GreatSchools Rating

Belmont Middle School

  • Education Level: Middle
  • # of students: 726
  • # of teachers: 39
6
GreatSchools Rating

South Point High School

  • Education Level: High
  • # of students: 1,101
  • # of teachers: 61
6
GreatSchools Rating
 

$386,991$472,989$429,990

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,494
Property Tax -$303
Property Insurance -$79
HOA -$21
Property Management Fees -$119
CASH FLOW
$55

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$429,990

PROJECTED PRICE

$2,070

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 3.00%
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$1.2M$1.4M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,947

INVESTMENT

$115,947

Down Payment
$107,498
Rehab Estimate
$2,000
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,494

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,498
Loan Amount $322,493
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$27,605

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,053

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$2,0703$2,0954$2,0955$2,245
$2,245
RENT COMPS ANALYSIS
  • 2809 South Point Road Belmont, NC 2
    • 4 beds 3 baths ∙ 2,765 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,765 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.75
    •  
  • 10631 Bedlington Road Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 2007
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.70
    •  
  • 121 Morgans Branch Road Belmont, NC 3
    • 3 beds 3 baths ∙ 2,652 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,652 Sqft ∙ Built 2018
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.79
    •  
  • 5024 Marci Lane Belmont, NC 4
    • 3 beds 4 baths ∙ 3,100 Sqft ∙ Built 1989 3 beds 4 baths ∙ 3,100 Sqft ∙ Built 1989
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.68
    •  
  • 213 Morgans Branch Road Belmont, NC 5
    • 4 beds 3 baths ∙ 2,923 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,923 Sqft ∙ Built 2017
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,245
    • $0.77
    •  
PROPERTY LISTING DETAILS
Kim Ward
1.704.577.2168
Carolinas Realty Connection Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3709980
Last Updated: 02/18/2021
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