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3109 Amesbury Hill Drive Charlotte, NC 28269

3 Beds 3 Baths 2,672 sqft Built 2008

$350,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $130.99
  • 6 Days on Market
  • MLS # : 3708929
  • Updated Date : 03/10/2021 at 12:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,672 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

Beautifully maintained, move in ready 3 bedroom home in the desired Amber Leigh Neighborhood. Exterior boasts lush landscaping, Maple trees, Mature Christmas Candy Hosta's, Cherokee Holly Hedge, Cryptomeria and Elaeagnus Pungens. Enjoy the shaded backyard in the summertime with mature trees such as White Oak, Southern Walnut, Southern Poplar, Sweetgum, and Beechwood. Top upgrades throughout the home including crown molding, Cobblestone lighting, hardwood floors, carpet upgrade, and interior door hardware throughout the home. Gorgeous kitchen with upgraded gas range, 42 inch Maple raised vanity cabinets with crown molding, granite counter tops, recessed lighting, ceramic backsplash, dishwasher and microwave upgrades. Open floor plan and an abundance of natural light. LOTS of thoughtful details inside and out! See attached Home Detail List attached.

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: Prosperity Church Road

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Prosperity 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
Croft Community School Primary Regular 644 35 NA
Ridge Road Middle School Middle Regular 1,285 65 6
Mallard Creek High School High Regular 2,472 123 6

Croft Community School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 35
NA
GreatSchools Rating

Ridge Road Middle School

  • Education Level: Middle
  • # of students: 1,285
  • # of teachers: 65
6
GreatSchools Rating

Mallard Creek High School

  • Education Level: High
  • # of students: 2,472
  • # of teachers: 123
6
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,216
Property Tax -$322
Property Insurance -$77
HOA -$31
Property Management Fees -$119
CASH FLOW
$95

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.

$350,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.4%
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

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$29,448

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,917

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$1,8354$1,8605$2,145
$2,145
RENT COMPS ANALYSIS
  • 3109 Amesbury Hill Drive Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,672 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,672 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.70
    •  
  • 10202 Fairbourne Court Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,568 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,568 Sqft ∙ Built 1999
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.68
    •  
  • 12403 Panthersville Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,571 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,571 Sqft ∙ Built 1996
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.70
    •  
  • 12435 Lookout Point Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2013
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,835
    • $0.77
    •  
  • 7817 Pope Farm Road Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,992 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,992 Sqft ∙ Built 2016
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $0.72
    •  
PROPERTY LISTING DETAILS
Thomas Elrod
1.704.228.6900
Keller Williams Ballantyne Area
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3708929
Last Updated: 03/10/2021
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