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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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Derita - Statesville
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$62,725
LOAN DETAILS
$747
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $53,750 |
| Loan Amount | $161,250 |
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
-
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
1.855.299.7653
Mark Spain Real Estate
