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3052 Eagle Ridge Lane Indian Trail, NC 28079

4 Beds 3 Baths 2,797 sqft Built 2021

$378,495

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $135.32
  • 4 Days on Market
  • MLS # : 3696385
  • Updated Date : 01/07/2021 at 16:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,797 sqft
  • Baths : 2 full , 1 half
Listing Agent

M/i Homes

Listing Agent's Description

Homesite 407 – This gorgeous 4 bedroom, 2 ½ bath, 2 story home offers stunning curb appeal with beautiful stone accents. The spacious open floorplan transforms the space perfectly, making entertaining a breeze! Chat with your guests while you cook, or catch up with loved ones while congregating around the large kitchen island. The First Floor Owner's Suite comes equipped with a huge walk in closet for the clothes lover! Imagine sipping on your favorite beverage with some nice relaxing music in your luxurious garden tub in the owner's bath retreat after a long day at work or play. Hurry and make your appointment today. This home won’t last long!

SEE MORE

MARKET HIGHLIGHTS

  • 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

Zip Code: 28079

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Zip Code: 28079

ZipNIR 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
Sun Valley Elementary School Primary Regular 695 45 9
Sun Valley Middle School Middle Regular 1,365 69 6
Sun Valley High School High Regular 1,306 76 7

Sun Valley Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 45
9
GreatSchools Rating

Sun Valley Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 69
6
GreatSchools Rating

Sun Valley High School

  • Education Level: High
  • # of students: 1,306
  • # of teachers: 76
7
GreatSchools Rating
 

$340,646$416,345$378,495

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,315
Property Tax -$247
Property Insurance -$80
HOA -$65
Property Management Fees -$119
CASH FLOW
$55

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.

$378,495

PROJECTED PRICE

$1,880

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.3%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,301

INVESTMENT

$102,301

Down Payment
$94,624
Rehab Estimate
$2,000
Closing Costs
$5,677

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,315

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,624
Loan Amount $283,871
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$28,406

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,923

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8753$1,8804$1,9505$1,975
$1,975
RENT COMPS ANALYSIS
  • 3052 Eagle Ridge Lane Indian Trail, NC 3
    • 4 beds 3 baths ∙ 2,797 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,797 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.67
    •  
  • 3016 Corrona Lane Indian Trail, NC 1
    • 4 beds 4 baths ∙ 2,800 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,800 Sqft ∙ Built 2014
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.66
    •  
  • 3043 Streamlet Way Monroe, NC 2
    • 5 beds 4 baths ∙ 2,840 Sqft ∙ Built 2006 5 beds 4 baths ∙ 2,840 Sqft ∙ Built 2006
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.66
    •  
  • 1001 Marcell Lane Indian Trail, NC 4
    • 5 beds 3 baths ∙ 2,660 Sqft ∙ Built 2008 5 beds 3 baths ∙ 2,660 Sqft ∙ Built 2008
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.73
    •  
  • 2007 Sipes Place Indian Trail, NC 5
    • 5 beds 3 baths ∙ 2,818 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,818 Sqft ∙ Built 2006
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.70
    •  
PROPERTY LISTING DETAILS
Alan Beulah
1.704.208.8125
M/i Homes
BESbswy