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2968 Lutz Boulevard Newton, NC 28658

3 Beds 1 Baths 1,212 sqft Built 1960

$130,000

List Price

$1,200

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $107.26
  • 34 Days on Market
  • MLS # : CAR3750337
  • Updated Date : 07/12/2021 at 20:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,212 sqft
  • Baths : 1 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Full brick ranch located close to shopping, restaurants, medical care, Hwy. 70, 321, and I-40. Great location, close to everything! House has 3 bedrooms and 1 bath. Hardwoods throughout the house, includes a shed for storage and plenty of potential to make it your own! Minutes to Startown RD, Robinson RD, Catawba Valley Blvd and HWY 70!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 28658

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140kPrice in $56k149k

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

Zip Code: 28658

No Data Available.

* 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
Jacobs Fork Middle School Middle Regular 505 30 8
Fred T Foard High School High Regular 1,025 60 5

Jacobs Fork Middle School

  • Education Level: Middle
  • # of students: 505
  • # of teachers: 30
8
GreatSchools Rating

Fred T Foard High School

  • Education Level: High
  • # of students: 1,025
  • # of teachers: 60
5
GreatSchools Rating
 

$117,000$143,000$130,000

PURCHASE PRICE

$1,080$1,320$1,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,200
EXPENSES Loan Payment -$452
Property Tax -$101
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
$479

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.

$130,000

PROJECTED PRICE

$1,200

PROJECTED RENT

0.92%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$40,200

INVESTMENT

$40,200

Down Payment
$32,500
Rehab Estimate
$5,750
Closing Costs
$1,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$452

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $32,500
Loan Amount $97,500
See What Happens When You Reinvest Cash Flow

18

YEARS SAVED

$39,657

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,285

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,400
$1,400
RENT COMPS ANALYSIS
  • 2968 Lutz Boulevard Newton, NC 1
    • 3 beds 1 baths ∙ 1,212 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,212 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3024 Startown Road Newton, NC 2
    • 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 2020
    property image
    LEASED 06/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.06
    •  
PROPERTY LISTING DETAILS
Herman Bruno
1.858.431.9722
Exp Realty Llc
BESbswy