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3140 Bluff Hill Lane #99 Charlotte, NC 28215

3 Beds 3 Baths 2,153 sqft Built 2021

$365,880

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $169.94
  • 2 Days on Market
  • MLS # : CAR3761515
  • Updated Date : 07/12/2021 at 21:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,153 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ccnc Realty Group Llc

Listing Agent's Description

Open Fontana 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 Dining Area leading to the great room. Study on the main level. Second level owner's suite with dual vanities and spacious walk in closet. Two 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
 

$329,292$402,468$365,880

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,271
Property Tax -$342
Property Insurance -$68
HOA -$54
Property Management Fees -$119
CASH FLOW
-$144

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.

$365,880

PROJECTED PRICE

$1,710

PROJECTED RENT

0.47%

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$98,958

INVESTMENT

$98,958

Down Payment
$91,470
Rehab Estimate
$2,000
Closing Costs
$5,488

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,271

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,470
Loan Amount $274,410
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$10,859

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,658

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,600
$1,600
RENT COMPS ANALYSIS
  • 3140 Bluff Hill Lane #99 Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,153 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,153 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4407 Back Creek Church Road Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 1960
    LEASED 05/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.82
    •  
PROPERTY LISTING DETAILS
Mike Sanacore
1.518.796.7735
Ccnc Realty Group Llc
BESbswy