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3004 Council Fire Circle Indian Trail, NC 28079

3 Beds 2 Baths 2,620 sqft Built 2005

$334,500

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $127.67
  • 4 Days on Market
  • MLS # : 3682530
  • Updated Date : 01/30/2021 at 00:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,620 sqft
  • Baths : 2 full
Listing Agent

Kerestan Realty

Listing Agent's Description

HOLLY PARK INDIAN TRAIL ! LOCATION! 1.5 Story well cared for one owner home with 2600+ square feet! 3 beds, and a huge bonus area on upper level.. Office media , game room? You decide! Nice floor plan downstairs , 10 FT ceilings in living room , dining area ,ceramic tile and hardwoods , great kitchen with granite counter tops , and tons of cabinet space! And a wonderful computer area to work in too! Gas stove , farmhouse sink , dining right off kitchen , master on main! Master features vaulted ceilings. Fantastic location, close to everything , shopping , schools and major Screen in sunroom, to relax in , and patio for BBQing in summer. Outside, we have a large fully wired with electric shed/workshop for all your home projects! And a 2 car garage. NEW ROOF 2017 , NEW HVAC SYSTEM 2017 !Backs up to nature area out back so nice and private!

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: 28079

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Zip Code: 28079

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Sun Valley Elementary School Primary Regular 695 45 9
Sun Valley Middle School Middle Regular 1,365 69 6
Sun Valley High School High Regular 1,306 76 7

Sun Valley Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 45
9
GreatSchools Rating

Sun Valley Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 69
6
GreatSchools Rating

Sun Valley High School

  • Education Level: High
  • # of students: 1,306
  • # of teachers: 76
7
GreatSchools Rating
 

$301,050$367,950$334,500

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,162
Property Tax -$219
Property Insurance -$76
HOA -$38
Property Management Fees -$119
CASH FLOW
$126

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.

$334,500

PROJECTED PRICE

$1,740

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,393

INVESTMENT

$94,393

Down Payment
$83,625
Rehab Estimate
$5,750
Closing Costs
$5,018

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,625
Loan Amount $250,875
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$32,580

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,808

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,545
1$1,5452$1,6503$1,7254$1,7405$1,975
$1,975
RENT COMPS ANALYSIS
  • 3004 Council Fire Circle Indian Trail, NC 4
    • 3 beds 2 baths ∙ 2,620 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,620 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.66
    •  
  • 5414 Fulton Ridge Drive Indian Trail, NC 1
    • 4 beds 3 baths ∙ 2,273 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,273 Sqft ∙ Built 2003
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.68
    •  
  • 3909 Waters Reach Lane Indian Trail, NC 2
    • 4 beds 3 baths ∙ 2,288 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,288 Sqft ∙ Built 1999
    LEASED 08/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.72
    •  
  • 5002 Breeze Lane Indian Trail, NC 3
    • 3 beds 3 baths ∙ 2,638 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,638 Sqft ∙ Built 2005
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.65
    •  
  • 1005 Bridleside Drive Indian Trail, NC 5
    • 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 2003
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.70
    •  
PROPERTY LISTING DETAILS
Judi Kerestan
1.704.280.9036
Kerestan Realty
BESbswy