Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3132 Bluff Hill Lane #101 Charlotte, NC 28215

5 Beds 3 Baths 2,802 sqft Built 2021

$405,480

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $144.71
  • 2 Days on Market
  • MLS # : CAR3761730
  • Updated Date : 07/12/2021 at 21:12
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,802 sqft
  • Baths : 3 full
Listing Agent

Ccnc Realty Group Llc

Listing Agent's Description

Open Jordan plan boasting open concept living. Large kitchen with granite counter tops, island perfect for entertaining, and plentiful cabinetry. Owner's pantry off the kitchen. Open breakfast nook leading to the great room and separate dining area. One Bedroom and full bathroom on the main level. Second level owner's suite with dual vanities and spacious walk in closet. Three additional Secondary bedrooms upstairs offer tremendous storage with ample closets. Second level laundry and large open loft area. Additional full bath upstairs and plentiful natural light throughout. 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
 

$364,932$446,028$405,480

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,408
Property Tax -$379
Property Insurance -$80
HOA -$54
Property Management Fees -$119
CASH FLOW
-$91

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.

$405,480

PROJECTED PRICE

$1,950

PROJECTED RENT

0.48%

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

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$109,452

INVESTMENT

$109,452

Down Payment
$101,370
Rehab Estimate
$2,000
Closing Costs
$6,082

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,408

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $101,370
Loan Amount $304,110
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$16,537

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,856

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6853$1,8004$1,9505$2,025
$2,025
RENT COMPS ANALYSIS
  • 3132 Bluff Hill Lane #101 Charlotte, NC 4
    • 5 beds 3 baths ∙ 2,802 Sqft ∙ Built 2021 5 beds 3 baths ∙ 2,802 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.70
    •  
  • 11341 Erwin Ridge Avenue Charlotte, NC 1
    • 5 beds 3 baths ∙ 2,462 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,462 Sqft ∙ Built 2003
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.65
    •  
  • 3005 Buckleigh Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,760 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,760 Sqft ∙ Built 2007
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.61
    •  
  • 9820 Jeanette Circle Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,462 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,462 Sqft ∙ Built 2004
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.73
    •  
  • 5409 Silchester Lane Charlotte, NC 5
    • 4 beds 3 baths ∙ 3,146 Sqft ∙ Built 1989 4 beds 3 baths ∙ 3,146 Sqft ∙ Built 1989
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $0.64
    •  
PROPERTY LISTING DETAILS
Cory Wing
1.704.221.9253
Ccnc Realty Group Llc
BESbswy