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301 Conservancy Drive Belmont, NC 28012

3 Beds 3 Baths 2,660 sqft Built 2016

$399,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $150.00
  • 3 Days on Market
  • MLS # : 3685273
  • Updated Date : 11/21/2020 at 14:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,660 sqft
  • Baths : 3 full
Listing Agent

Carolina Homes Connection, Llc

Listing Agent's Description

Welcome home to highly desirable McLean! Amazing opportunity to call this former model home Yours! 1.5 story 3bed 3 bath offers decorator upgrades & popular Woodlawn floorplan w/ owner's suite & guest bed down. Kitchen features large island, granite tops, SS appliances, gas range & white cabinets w/ soft-close drawers. Family room, breakfast area, laundry, plus flex/office space down. Drop zone, wood accent walls, speaker system, plus neutral colors thru-out. Upstairs features bonus room, bedroom w/ full bath & another flex/office/hobby room! Screened porch perfect for entertaining w/ extensive paver patio. Beautiful lot w/ professional landscaping & irrigation. Lawn maintenance included! Amenities inc clubhouse, pool, fitness center, dog park, game courts, & more! McLean is a modern active community nestled on the shores of Lake Wylie offering walking/ bike trails, a marina (currently under construction), with convenience to the dining and shopping of Belmont, Lake Wylie & Charlotte!

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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: 28012

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210kPrice in $113k213k

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

Zip Code: 28012

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350Rent in $8421396

* 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
New Hope Elementary School Primary Regular 542 27 7
Cramerton Middle School Middle Regular 833 42 8
South Point High School High Regular 1,101 61 6

New Hope Elementary School

  • Education Level: Primary
  • # of students: 542
  • # of teachers: 27
7
GreatSchools Rating

Cramerton Middle School

  • Education Level: Middle
  • # of students: 833
  • # of teachers: 42
8
GreatSchools Rating

South Point High School

  • Education Level: High
  • # of students: 1,101
  • # of teachers: 61
6
GreatSchools Rating
 

$359,100$438,900$399,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,472
Property Tax -$299
Property Insurance -$77
HOA -$175
Property Management Fees -$203
CASH FLOW
$24

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$399,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
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-$5.0k$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$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$20,142

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,022

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,1453$2,250
$2,250
RENT COMPS ANALYSIS
  • 301 Conservancy Drive Belmont, NC 3
    • 3 beds 3 baths ∙ 2,660 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,660 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.85
    •  
  • 121 Morgans Branch Road Belmont, NC 1
    • 3 beds 3 baths ∙ 2,652 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,652 Sqft ∙ Built 2018
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.79
    •  
  • 213 Morgans Branch Road Belmont, NC 2
    • 4 beds 3 baths ∙ 2,923 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,923 Sqft ∙ Built 2017
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $0.73
    •  
PROPERTY LISTING DETAILS
Jenn Weldon
1.704.615.7315
Carolina Homes Connection, Llc
BESbswy