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3015 Bluff Hill Lane #004 Charlotte, NC 28215

5 Beds 3 Baths 2,641 sqft Built 2021

$401,580

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $152.06
  • 2 Days on Market
  • MLS # : CAR3753496
  • Updated Date : 07/12/2021 at 15:34
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,641 sqft
  • Baths : 3 full
Listing Agent

Ccnc Realty Group Llc

Listing Agent's Description

Desirable Calderwood plan boasting open concept living. Two Story Home with Private Owner's Suite on the Main Level with owner's bath, dual vanities, and large walk-in-closet!!! Additional guest bedroom on the main. Large kitchen with granite counter tops, SS appliances, island perfect for entertaining, and plentiful cabinetry. Three Secondary bedrooms on second level offer privacy and tremendous storage with ample closets. Flexible open game room on second level as well. This home is a must see!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Back Creek Church Road

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Back Creek Church Road

NeighborhoodNIR 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
Reedy Creek Elementary School Primary Regular 730 44 6
Northridge Middle School Middle Regular 779 43 3
Rocky River High School High Regular 1,710 90 3

Reedy Creek Elementary School

  • Education Level: Primary
  • # of students: 730
  • # of teachers: 44
6
GreatSchools Rating

Northridge Middle School

  • Education Level: Middle
  • # of students: 779
  • # of teachers: 43
3
GreatSchools Rating

Rocky River High School

  • Education Level: High
  • # of students: 1,710
  • # of teachers: 90
3
GreatSchools Rating
 

$361,422$441,738$401,580

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,395
Property Tax -$376
Property Insurance -$77
HOA -$54
Property Management Fees -$119
CASH FLOW
$39

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$401,580

PROJECTED PRICE

$2,060

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 3.00%
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

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$108,419

INVESTMENT

$108,419

Down Payment
$100,395
Rehab Estimate
$2,000
Closing Costs
$6,024

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,395

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,395
Loan Amount $301,185
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$26,945

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,961

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6953$1,8004$1,9255$2,050
$2,050
RENT COMPS ANALYSIS
  • 3015 Bluff Hill Lane #004 Charlotte, NC 1
    • 5 beds 3 baths ∙ 2,641 Sqft ∙ Built 2021 5 beds 3 baths ∙ 2,641 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 9814 Jeanette Circle Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2004
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.71
    •  
  • 9820 Jeanette Circle Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,462 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,462 Sqft ∙ Built 2004
    property image
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.73
    •  
  • 9709 Hollyburgh Terrace Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,335 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,335 Sqft ∙ Built 2005
    property image
    LEASED 04/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.82
    •  
  • 2423 Godsey Wood Drive Charlotte, NC 5
    • 5 beds 3 baths ∙ 2,899 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,899 Sqft ∙ Built 2003
    property image
    LEASED 05/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.71
    •  
PROPERTY LISTING DETAILS
Mike Sanacore
1.518.796.7735
Ccnc Realty Group Llc
BESbswy