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301 Old Bell Road Charlotte, NC 28270

5 Beds 4 Baths 3,451 sqft Built 1986

$465,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $134.74
  • 3 Days on Market
  • MLS # : 3707448
  • Updated Date : 02/13/2021 at 13:24
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,451 sqft
  • Baths : 3 full , 1 half
Listing Agent

Real Living Carolinas Real Estate

Listing Agent's Description

Contemporary home with 3450 sq ft sits on private 1.28 acre lot in the heart of South Charlotte with close proximity to top schools and McAlpine Creek Greenway access. True value in this 5 bedroom, 3.5 bath home that offers quality living space! Functional split level plan with third floor loft currently used as a home office. Features of note include: All new interior paint (2021). New luxury vinyl flooring by Shaw (2021), New levelor blinds and several new light fixtures (2020). $8000 in new landscaping (2021). Two HVAC units replaced (2018). Exterior vinyl replaced (2012) with 30 yr warranty. Spacious bedrooms and lots of closet space. Sit in the sunroom, on the rear patio or explore the back yard! Exterior storage closet on side of the home. No HOA.

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

Neighborhood: Sardis Forest

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $116k351k

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

Neighborhood: Sardis Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8441978

* 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
Lansdowne Elementary School Primary Regular 643 41 5
Mcclintock Middle School Middle Regular 855 55 3
East Mecklenburg High School High Regular 1,840 111 6

Lansdowne Elementary School

  • Education Level: Primary
  • # of students: 643
  • # of teachers: 41
5
GreatSchools Rating

Mcclintock Middle School

  • Education Level: Middle
  • # of students: 855
  • # of teachers: 55
3
GreatSchools Rating

East Mecklenburg High School

  • Education Level: High
  • # of students: 1,840
  • # of teachers: 111
6
GreatSchools Rating
 

$418,500$511,500$465,000

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,615
Property Tax -$423
Property Insurance -$92
Property Management Fees -$119
CASH FLOW
-$19

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.

$465,000

PROJECTED PRICE

$2,230

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.3%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,615

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$26,314

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $2,476

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,160
1$2,1602$2,2303$2,3004$2,5005$2,900
$2,900
RENT COMPS ANALYSIS
  • 301 Old Bell Road Charlotte, NC 2
    • 5 beds 4 baths ∙ 3,451 Sqft ∙ Built 1986 5 beds 4 baths ∙ 3,451 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $0.65
    •  
  • 6433 Summertree Lane Charlotte, NC 1
    • 4 beds 4 baths ∙ 3,586 Sqft ∙ Built 1994 4 beds 4 baths ∙ 3,586 Sqft ∙ Built 1994
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.60
    •  
  • 9220 Tillot Drive Matthews, NC 3
    • 4 beds 3 baths ∙ 3,438 Sqft ∙ Built 1986 4 beds 3 baths ∙ 3,438 Sqft ∙ Built 1986
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.67
    •  
  • 6600 Ciscayne Place Charlotte, NC 4
    • 4 beds 5 baths ∙ 3,572 Sqft ∙ Built 1979 4 beds 5 baths ∙ 3,572 Sqft ∙ Built 1979
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.70
    •  
  • 7301 Leharne Drive Charlotte, NC 5
    • 4 beds 4 baths ∙ 3,676 Sqft ∙ Built 1988 4 beds 4 baths ∙ 3,676 Sqft ∙ Built 1988
    property image
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.79
    •  
PROPERTY LISTING DETAILS
Carrie Brighton
1.704.241.4418
Real Living Carolinas Real Estate
BESbswy