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3036 Greenmont Circle Belmont, NC 28012

4 Beds 3 Baths 2,429 sqft Built 2006

$414,900

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $170.81
  • 12 Days on Market
  • MLS # : 3693561
  • Updated Date : 12/31/2020 at 17:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,429 sqft
  • Baths : 2 full , 1 half
Listing Agent

Hawkins Real Estate Group Inc.

Listing Agent's Description

Welcome Home to Belmont! Timberlake is a beautiful community located just off the Catawba River & minutes from the airport & uptown Charlotte. This incredible home features a light & open plan yet still offering warm and cozy areas throughout the home. The 2 story living room with gas log fireplace invites you to sit down & stay a while. This kitchen is a dream! Featuring a charming breakfast area, custom cabinets, granite tops, hardwood floors, eat on bar, pantry, stainless appliances, & the most charming keeping room with gas log fire place. Plenty of room to entertain or just enjoy cozying up with your family! The formal dining room has hardwoods & an abundance of natural light! There is a half bath off of the foyer for your guest. The master bedroom is tucked away & welcomes you to rest in privacy. A gorgeous trey ceiling adds to the luxury of the room with ensuite bath, jetted tub, oversized shower, large walk in & dual vanity. Upstairs offers 3 large bedrooms! and so much more!

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

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
Belmont Central Elementary School Primary Regular 678 35 7
Belmont Middle School Middle Regular 726 39 6
Stuart W. Cramer High School High Regular 782 45 NA

Belmont Central Elementary School

  • Education Level: Primary
  • # of students: 678
  • # of teachers: 35
7
GreatSchools Rating

Belmont Middle School

  • Education Level: Middle
  • # of students: 726
  • # of teachers: 39
6
GreatSchools Rating

Stuart W. Cramer High School

  • Education Level: High
  • # of students: 782
  • # of teachers: 45
NA
GreatSchools Rating
 

$373,410$456,390$414,900

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,531
Property Tax -$339
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
-$122

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.

$414,900

PROJECTED PRICE

$1,940

PROJECTED RENT

0.47%

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,699

INVESTMENT

$115,699

Down Payment
$103,725
Rehab Estimate
$5,750
Closing Costs
$6,224

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,725
Loan Amount $311,175
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$16,839

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,949

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,825
1$1,8252$1,8503$1,9404$1,9455$2,075
$2,075
RENT COMPS ANALYSIS
  • 3036 Greenmont Circle Belmont, NC 3
    • 4 beds 3 baths ∙ 2,429 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,429 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.80
    •  
  • 1001 Bailey Kendall Way Belmont, NC 1
    • 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 2006
    property image
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.83
    •  
  • 1000 Ashley Glen Lane Belmont, NC 2
    • 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 2006
    property image
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.84
    •  
  • 2800 Shannon Drive Belmont, NC 4
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2006
    property image
    LEASED 07/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.75
    •  
  • 4918 Trayton Avenue Gastonia, NC 5
    • 5 beds 4 baths ∙ 2,698 Sqft ∙ Built 2019 5 beds 4 baths ∙ 2,698 Sqft ∙ Built 2019
    property image
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.77
    •  
PROPERTY LISTING DETAILS
Roger Hawkins
1.704.827.8850
Hawkins Real Estate Group Inc.
BESbswy