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2916 Teton Drive Gastonia, NC 28054

5 Beds 3 Baths 2,389 sqft Built 2003

$236,900

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $99.16
  • 5 Days on Market
  • MLS # : 3659122
  • Updated Date : 11/20/2020 at 16:38
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,389 sqft
  • Baths : 2 full , 1 half
Listing Agent

Wilkinson Era Real Estate

Listing Agent's Description

Located in highly sought after Mountain View neighborhood, this 5 bedroom home is move in ready! Downstairs bedroom can be used as a home office, school area, or playroom. The oversized dining area is open to the large kitchen with granite countertops and stainless appliances, and features a gas log fireplace to make the heartbeat of this home warm and cozy. Abundant natural light and space make this a perfect fit for a large family with enough room for everyone to spread out. The private backyard is enclosed with a maintenance free white fence and backs up to a natural area with trees. Neighborhood playgrounds and walking trails make this a popular family friendly neighborhood, just minutes from shopping, I-85 and 23 minutes to the Charlotte airport. The many upgrades and move in ready condition make this a must see!

SEE MORE

MARKET HIGHLIGHTS

  • 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

Zip Code: 28054

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k213k

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

Zip Code: 28054

ZipNIR Market*CityMarket2010Year20002019 Q270075080085090095010001050110011501200125013001350Rent in $6771375

* 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
Brookside Elementary School Primary Regular 551 34 4
Holbrook Middle School Middle Regular 731 40 6
North Gaston High School High Regular 1,095 60 3

Brookside Elementary School

  • Education Level: Primary
  • # of students: 551
  • # of teachers: 34
4
GreatSchools Rating

Holbrook Middle School

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

North Gaston High School

  • Education Level: High
  • # of students: 1,095
  • # of teachers: 60
3
GreatSchools Rating
 

$213,210$260,590$236,900

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$874
Property Tax -$182
Property Insurance -$72
HOA -$15
Property Management Fees -$131
CASH FLOW
$186

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.

$236,900

PROJECTED PRICE

$1,460

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,529

INVESTMENT

$68,529

Down Payment
$59,225
Rehab Estimate
$5,750
Closing Costs
$3,554

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$874

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,225
Loan Amount $177,675
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$30,793

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $1,593

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,460
1$1,4602$1,4953$1,5954$1,625
$1,625
RENT COMPS ANALYSIS
  • 2916 Teton Drive Gastonia, NC 1
    • 5 beds 3 baths ∙ 2,389 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,389 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.61
    •  
  • 1420 River Run Road Lowell, NC 2
    • 4 beds 3 baths ∙ 2,238 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,238 Sqft ∙ Built 2010
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.67
    •  
  • 4109 Everest Drive Gastonia, NC 3
    • 5 beds 3 baths ∙ 2,361 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,361 Sqft ∙ Built 2003
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.68
    •  
  • 2830 Thomas Twig Drive Dallas, NC 4
    • 5 beds 3 baths ∙ 2,495 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,495 Sqft ∙ Built 2018
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.65
    •  
PROPERTY LISTING DETAILS
Sandy Harrison
1.704.460.1157
Wilkinson Era Real Estate
BESbswy