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3076 Winesap Street #88 Dallas, NC 28034

3 Beds 2 Baths 1,559 sqft Built 2021

$261,990

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $168.05
  • 6 Days on Market
  • MLS # : 3637727
  • Updated Date : 02/06/2021 at 12:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,559 sqft
  • Baths : 2 full
Listing Agent

Dr Horton Inc

Listing Agent's Description

This is a great ranch plan! 3 bedrooms and 2 baths with cathedral ceilings in the master bedroom and family room. Beautiful standard granite counter tops in the kitchen. double bowl sinks in the master bathroom with a 5' foot shower. Don't miss out on this deal!

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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

Neighborhood: Applecreek Village

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k213k

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

Neighborhood: Applecreek Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6411546

* 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
Costner Elementary School Primary Regular 583 32 5
W.c. Friday Middle School Middle Regular 687 38 4
North Gaston High School High Regular 1,095 60 3

Costner Elementary School

  • Education Level: Primary
  • # of students: 583
  • # of teachers: 32
5
GreatSchools Rating

W.c. Friday Middle School

  • Education Level: Middle
  • # of students: 687
  • # of teachers: 38
4
GreatSchools Rating

North Gaston High School

  • Education Level: High
  • # of students: 1,095
  • # of teachers: 60
3
GreatSchools Rating
 

$235,791$288,189$261,990

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$910
Property Tax -$170
Property Insurance -$57
HOA -$65
Property Management Fees -$119
CASH FLOW
-$51

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.

$261,990

PROJECTED PRICE

$1,270

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 3.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,427

INVESTMENT

$71,427

Down Payment
$65,498
Rehab Estimate
$2,000
Closing Costs
$3,930

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,498
Loan Amount $196,493
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$10,493

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,286

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,270
1$1,2702$1,3753$1,425
$1,425
RENT COMPS ANALYSIS
  • 3076 Winesap Street Dallas, NC 1
    • 3 beds 2 baths ∙ 1,559 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,559 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.81
    •  
  • 2680 Mcintosh Street Dallas, NC 2
    • 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2020
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.81
    •  
  • 2665 Mcintosh Street Dallas, NC 3
    • 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2020
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.84
    •  
PROPERTY LISTING DETAILS
Sandy Dobbs
1.704.960.9813
Dr Horton Inc
BESbswy