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2828 Bridle Brook Way Charlotte, NC 28270

4 Beds 3 Baths 3,621 sqft Built 2006

$500,000

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $138.08
  • 4 Days on Market
  • MLS # : 3706335
  • Updated Date : 02/19/2021 at 19:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,621 sqft
  • Baths : 3 full
Listing Agent

Prostead Realty

Listing Agent's Description

GRAB THIS ONE BEFORE SOMEONE ELSE DOES! The South Charlotte market is HOT and this is the home you have been waiting for! FABULOUS LOCATION with a highly rated school assignment, minutes from the future I-485/Weddington Rd exit, shopping, restaurants and more. The perfect brick front 3621 sq. ft. home with a 2 car side entry garage, 4 bedrooms, 3 full baths & a 1st floor study/office. Enjoy entertaining in this open floor plan with a formal Living Room and Dining Room plus a large Great Room with gas fireplace that opens up into a great kitchen. Nice walk-in panty and 1st floor laundry room. The size of the owners suite is amazing and will accommodate all of your bedroom furniture along with space for a sitting area to relax in. Great level rear yard is perfect for enjoying time outside. HARDWOOD FLOORING throughout the home!! All of this adds up to the perfect opportunity to be the new owner of this lovely South Charlotte home. DON'T MISS OUT! Make an appointment to view 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: Providence Plantation

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $116k585k

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

Neighborhood: Providence Plantation

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $8442955

* 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
Providence Spring Elementary School Primary Regular 871 45 9
Crestdale Middle School Middle Regular 868 44 7
Providence High School High Regular 1,991 94 9

Providence Spring Elementary School

  • Education Level: Primary
  • # of students: 871
  • # of teachers: 45
9
GreatSchools Rating

Crestdale Middle School

  • Education Level: Middle
  • # of students: 868
  • # of teachers: 44
7
GreatSchools Rating

Providence High School

  • Education Level: High
  • # of students: 1,991
  • # of teachers: 94
9
GreatSchools Rating
 

$450,000$550,000$500,000

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$1,737
Property Tax -$461
Property Insurance -$95
HOA -$31
Property Management Fees -$119
CASH FLOW
$157

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.

$500,000

PROJECTED PRICE

$2,600

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 3.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.36%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$46,829

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,897

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,6003$2,7004$2,7505$3,200
$3,200
RENT COMPS ANALYSIS
  • 2828 Bridle Brook Way Charlotte, NC 2
    • 4 beds 3 baths ∙ 3,621 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,621 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.72
    •  
  • 216 Rosedale Lane Matthews, NC 1
    • 4 beds 4 baths ∙ 3,307 Sqft ∙ Built 1997 4 beds 4 baths ∙ 3,307 Sqft ∙ Built 1997
    LEASED 03/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.77
    •  
  • 432 Willow Brook Drive Matthews, NC 3
    • 5 beds 4 baths ∙ 3,388 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,388 Sqft ∙ Built 2004
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.80
    •  
  • 420 Willow Brook Drive Matthews, NC 4
    • 4 beds 4 baths ∙ 3,624 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,624 Sqft ∙ Built 2004
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.76
    •  
  • 10001 Devereaux Drive Matthews, NC 5
    • 4 beds 4 baths ∙ 3,680 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,680 Sqft ∙ Built 2005
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.87
    •  
PROPERTY LISTING DETAILS
Debbie Kempter
1.704.264.9608
Prostead Realty
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3706335
Last Updated: 02/19/2021
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