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3008 Dalecrest Drive Charlotte, NC 28269

3 Beds 2 Baths 1,388 sqft Built 1968

$215,000

List Price

$1,090

$981 - $1.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $154.90
  • 20 Days on Market
  • MLS # : 3700063
  • Updated Date : 02/05/2021 at 12:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,388 sqft
  • Baths : 1 full , 1 half
Listing Agent

Mark Spain Real Estate

Listing Agent's Description

Purchase this gorgeous brick ranch style home; on a large attractive lot. Motivated Seller!! Price has been reduced for a quick sale. Huge value to buyers. Seller is offering up to 5,000 for repairs or closing costs! The home boasts beautiful refinished real oak hardwood floors and freshly painted walls in the with 3 beds and 1 and 1/2 bath in the master bed! Relax in the den in front of the beautiful white fireplace. The kitchen includes all new ss appliances, granite countertops, and painted white cabinets. Take advantage of the enormous wood deck, spacious fenced backyard for entertaining. parking with 4 + parking spaces. ample amount of storage space throughout the home including the shed in the backyard. The home has a brand new roof with architectural shingles, a new HVAC, copper plumbing, and new electrical panel. New sink and vanity area in the bathrooms. The home sits near I-85 and I- 77 for an easy commute anywhere in charlotte.

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: Derita - Statesville

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Derita - Statesville

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771518

* 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
Governors' Village Stem Academy Lower Campus Primary Regular 815 53 4
Vance High School High Regular 1,714 91 3

Governors' Village Stem Academy Lower Campus

  • Education Level: Primary
  • # of students: 815
  • # of teachers: 53
4
GreatSchools Rating

Vance High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 91
3
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$981$1,199$1,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,090
EXPENSES Loan Payment -$747
Property Tax -$196
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
-$25

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.

$215,000

PROJECTED PRICE

$1,090

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.8%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$9,838

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,090

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,194

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,090
1$1,0902$1,1993$1,2254$1,2505$1,295
$1,295
RENT COMPS ANALYSIS
  • 3008 Dalecrest Drive Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $1,090
    • $0.79
    •  
  • 4629 Brenda Court Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1982
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,199
    • $0.76
    •  
  • 5209 Wales Street Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1951
    LEASED 08/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.86
    •  
  • 5102 Elizabeth Road Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2002
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.84
    •  
  • 5132 Elizabeth Road Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,464 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,464 Sqft ∙ Built 2002
    LEASED 10/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.88
    •  
PROPERTY LISTING DETAILS
Rachel Alles
1.855.299.7653
Mark Spain Real Estate
BESbswy