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PROPERTY INFO
FACTS
- Single Family
- Built In 1965
- Price/Sqft : $181.56
- 3 Days on Market
- MLS # : 3710592
- Updated Date : 02/20/2021 at 13:28
CONSTRUCTION
- Beds : 3
- Floor Size : 1,735 sqft
- Baths : 2 full
Listing Agent
Keller Williams South Park
Listing Agent's Description
Located in the beautiful and desirable Coulwood Hills, conveniently located near Uptown Charlotte, White Water Center and Charlotte Douglas Airport without having to give up privacy and the perks of living on .80 acres. There’s a lot to love in this delightful 3 bedroom, 2 bathroom basement home. The den, with it’s wood-burning fireplace is perfect for a good book and close to the kitchen to keep an eye on things. The basement is versatile as a guest suite, for entertaining, or even would make an excellent game room for all to enjoy. Several walking/biking trails located at the nearby White Water Center along with restaurants and breweries make this an excellent choice for those wanting their peace and quiet and taking part in the action as wanted.
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Coulwood West
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Coulwood West
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,450 |
| EXPENSES | Loan Payment | -$1,094 |
| Property Tax | -$275 | |
| Property Insurance | -$60 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$98
|
||
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.
$315,000
PROJECTED PRICE
$1,450
PROJECTED RENT
0.46%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 8.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$89,225
LOAN DETAILS
$1,094
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $78,750 |
| Loan Amount | $236,250 |
3.58
YEARS SAVED
$9,764
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,450
LIST RENT -
$0.84
LIST RENT PER SQFT
-
$1,492
COMP ESTIMATED VALUE -
$0.86
COMP AVG. RENT PER SQFT
Comps Range
-
320 Brooklain Drive Charlotte, NC 3
- 3 beds 2 baths ∙ 1,735 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,735 Sqft ∙ Built 1965
- Rent
- Rent Per SQFT
- $1,450
- $0.84
-
1623 Long Paw Lane Charlotte, NC 1
- 3 beds 3 baths ∙ 1,787 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,787 Sqft ∙ Built 2006
LEASED 03/10/20- Rent
- Rent Per SQFT
- $1,425
- $0.80
-
1158 Delander Lane Charlotte, NC 2
- 4 beds 3 baths ∙ 1,756 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,756 Sqft ∙ Built 2006
LEASED 06/04/20- Rent
- Rent Per SQFT
- $1,450
- $0.83
-
1706 Long Paw Lane Charlotte, NC 4
- 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 2005
LEASED 11/25/20- Rent
- Rent Per SQFT
- $1,600
- $0.93
-
350 Waycross Drive Charlotte, NC 5
- 4 beds 3 baths ∙ 1,884 Sqft ∙ Built 1965 4 beds 3 baths ∙ 1,884 Sqft ∙ Built 1965
LEASED 06/24/20- Rent
- Rent Per SQFT
- $1,650
- $0.88
PROPERTY LISTING DETAILS
1.704.609.7669
Keller Williams South Park
MLS #: 3710592
Last Updated: 02/20/2021
