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316 Belwood Drive Belmont, NC 28012

3 Beds 2 Baths 2,294 sqft Built 1976

$394,900

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $172.14
  • 2 Days on Market
  • MLS # : 3720405
  • Updated Date : 03/20/2021 at 14:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,294 sqft
  • Baths : 2 full
Listing Agent

Reg Robinson Real Estate, Inc.

Listing Agent's Description

A real HOME in a dream location! Near acre meticulously maintained and private wooded lot with a solid and beautiful brick ranch. The home was updated a few years back in a variety of attractive and effective locations throughout. Newer insulated windows, refinished & flooring, solid wood cabinets & granite countertops. You may not find 1 piece of particle board! Beautifully (& neutrally) decorated w/distinct tiles (backsplashes & flooring) & plantation blinds that will stay. All appliances & mechanical have been carefully maintained. Outside, the roof is three years old and you'll note professionally installed and routinely maintained landscaping including japanese maple, rhododendron! and scores of azaleas. The rear of the home gives way to a brick terraced & clean lot with multiple spots to drop a blanket & enjoy nature and the scores of mature trees on and in the woods behind the property. SO convenient to BRAND NEW Belmont Middle & Harris Teeter plaza. Must see it while it lasts!!

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

Zip Code: 28012

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210kPrice in $113k213k

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

Zip Code: 28012

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350Rent in $8421396

* 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
Belmont Central Elementary School Primary Regular 678 35 7
Belmont Middle School Middle Regular 726 39 6
South Point High School High Regular 1,101 61 6

Belmont Central Elementary School

  • Education Level: Primary
  • # of students: 678
  • # of teachers: 35
7
GreatSchools Rating

Belmont Middle School

  • Education Level: Middle
  • # of students: 726
  • # of teachers: 39
6
GreatSchools Rating

South Point High School

  • Education Level: High
  • # of students: 1,101
  • # of teachers: 61
6
GreatSchools Rating
 

$355,410$434,390$394,900

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,372
Property Tax -$209
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
$50

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$394,900

PROJECTED PRICE

$1,820

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
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$110,399

INVESTMENT

$110,399

Down Payment
$98,725
Rehab Estimate
$5,750
Closing Costs
$5,924

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,725
Loan Amount $296,175
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$26,804

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,072

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,820
1$1,8202$1,8503$2,2504$2,495
$2,495
RENT COMPS ANALYSIS
  • 316 Belwood Drive Belmont, NC 1
    • 3 beds 2 baths ∙ 2,294 Sqft ∙ Built 1976 3 beds 2 baths ∙ 2,294 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.79
    •  
  • 1003 Damon Pointe Drive Belmont, NC 2
    • 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 2002
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.94
    •  
  • 45 Catawba Street Belmont, NC 3
    • 3 beds 3 baths ∙ 2,623 Sqft ∙ Built 1916 3 beds 3 baths ∙ 2,623 Sqft ∙ Built 1916
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.86
    •  
  • 316 S Main Street Belmont, NC 4
    • 3 beds 3 baths ∙ 2,620 Sqft ∙ Built 1930 3 beds 3 baths ∙ 2,620 Sqft ∙ Built 1930
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.95
    •  
PROPERTY LISTING DETAILS
Reg Robinson
1.704.263.1189
Reg Robinson Real Estate, Inc.
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3720405
Last Updated: 03/20/2021
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