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315 Pulaski Drive Concord, NC 28027

5 Beds 4 Baths 2,738 sqft Built 2013

INVESTimate

$299,000

List Price

$1,900

$1,710 - $2,090

Rent Est.

$314,757  ( +5.27%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2013
  • Price/Sqft : $109.20
  • 10 Days on Market
  • MLS # : 3652669
  • Updated Date : 08/17/2020 at 15:20
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,738 sqft
  • Baths : 4 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Beautiful 5 bedroom 4 full bathrooms with fence backyard. 3rd floor features a full bathroom, this floor could be used as a theater room, man or woman cave or family room. The private backyard is fence perfect for family gatherings, or just relaxing after a long day. .

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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: Savannah Commons

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Savannah Commons

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8401809

* 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
Pitts School Road Elementary School Primary Regular 809 49 5
Harold Winkler Middle School Middle Regular 978 60 6
Jay M Robinson High School High Regular 1,339 86 3

Pitts School Road Elementary School

  • Education Level: Primary
  • # of students: 809
  • # of teachers: 49
5
GreatSchools Rating

Harold Winkler Middle School

  • Education Level: Middle
  • # of students: 978
  • # of teachers: 60
6
GreatSchools Rating

Jay M Robinson High School

  • Education Level: High
  • # of students: 1,339
  • # of teachers: 86
3
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,103
Property Tax -$316
Property Insurance -$79
HOA -$25
Property Management Fees -$171
CASH FLOW
$206

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.

$299,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.27%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

8.08

YEARS SAVED

$37,770

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,033

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,825
1$1,8252$1,8253$1,8454$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 315 Pulaski Drive Concord, NC 4
    • 5 beds 4 baths ∙ 2,738 Sqft ∙ Built 2013 5 beds 4 baths ∙ 2,738 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.69
    •  
  • 5359 Roberta Crossing Drive Concord, NC 1
    • 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 2018
    property image
    LEASED 03/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.74
    •  
  • 5326 Roberta Crossing Concord, NC 2
    • 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 2017
    property image
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.74
    •  
  • 5359 Roberta Crossing Concord, NC 3
    • 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 2017
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.75
    •  
  • 5378 Josephine Lane Concord, NC 5
    • 5 beds 4 baths ∙ 2,660 Sqft ∙ Built 2005 5 beds 4 baths ∙ 2,660 Sqft ∙ Built 2005
    property image
    LEASED 07/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.73
    •  
PROPERTY LISTING DETAILS
Erika White
1.704.451.0234
Coldwell Banker Realty
BESbswy