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2869 Wimbledon Drive Gastonia, NC 28056

3 Beds 3 Baths 2,125 sqft Built 1985

$314,900

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $148.19
  • 4 Days on Market
  • MLS # : 3696505
  • Updated Date : 01/08/2021 at 13:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,125 sqft
  • Baths : 2 full , 1 half
Listing Agent

Providence Management & Invest

Listing Agent's Description

Do not miss this gem nestled in the desirable Southampton neighborhood! So many things to love about this one! It has 3 bedrooms and 2 full baths on a split floor plan. Enjoy family nights in the large great room, overlooking the backyard. This house features a sunroom with brick flooring that leads out to your large covered deck. This deck will absolutely be the central focus for entertaining guests and enjoying the wooded views from your fenced in back yard. Home also features 2 buildings that will convey and are perfect for storage or to set up a workshop. Two pulldown attic access points, gives storage the length of the house. There is a .5 acre parcel directly behind this property that will convey with this property as well. It is conveniently located near Gaston Country Club and Southampton Swim and Racquet Club, which makes for easy access to entertainment for the whole family. You will not want to let this one go without a look!

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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

Zip Code: 28056

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $81k213k

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

Zip Code: 28056

ZipNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400Rent in $6901460

* 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
W.a. Bess Elementary School Primary Regular 551 32 8
Cramerton Middle School Middle Regular 833 42 8
Forestview High School High Regular 1,143 63 7

W.a. Bess Elementary School

  • Education Level: Primary
  • # of students: 551
  • # of teachers: 32
8
GreatSchools Rating

Cramerton Middle School

  • Education Level: Middle
  • # of students: 833
  • # of teachers: 42
8
GreatSchools Rating

Forestview High School

  • Education Level: High
  • # of students: 1,143
  • # of teachers: 63
7
GreatSchools Rating
 

$283,410$346,390$314,900

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,094
Property Tax -$261
Property Insurance -$67
HOA -$6
Property Management Fees -$119
CASH FLOW
$243

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.

$314,900

PROJECTED PRICE

$1,790

PROJECTED RENT

0.57%

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,199

INVESTMENT

$89,199

Down Payment
$78,725
Rehab Estimate
$5,750
Closing Costs
$4,724

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,725
Loan Amount $236,175
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$39,426

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,642

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,585
1$1,5852$1,6093$1,6504$1,7905$2,030
$2,030
RENT COMPS ANALYSIS
  • 2869 Wimbledon Drive Gastonia, NC 4
    • 3 beds 3 baths ∙ 2,125 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,125 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.84
    •  
  • 3643 Creekside Drive Gastonia, NC 1
    • 3 beds 3 baths ∙ 2,232 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,232 Sqft ∙ Built 2016
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $0.71
    •  
  • 3833 Streamside Drive Gastonia, NC 2
    • 4 beds 3 baths ∙ 2,201 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,201 Sqft ∙ Built 2017
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,609
    • $0.73
    •  
  • 3857 Streamside Drive Gastonia, NC 3
    • 4 beds 3 baths ∙ 2,002 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,002 Sqft ∙ Built 2017
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.82
    •  
  • 3419 Donnington Way Gastonia, NC 5
    • 4 beds 3 baths ∙ 2,220 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,220 Sqft ∙ Built 2014
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.91
    •  
PROPERTY LISTING DETAILS
Jessica Pendergraft
1.704.214.2953
Providence Management & Invest
BESbswy