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PROPERTY INFO
FACTS
- Single Family
- Built In 1989
- Price/Sqft : $118.36
- 3 Days on Market
- MLS # : 3717810
- Updated Date : 03/12/2021 at 19:19
CONSTRUCTION
- Beds : 4
- Floor Size : 2,408 sqft
- Baths : 2 full , 1 half
Listing Agent
Allen Tate Concord
Listing Agent's Description
AMAZING TWO STORY ROCKING CHAIR FRONT PORCH HOME NESTLED ON .29 OF AN ACRE ON A QUAINT CUL DE SAC. UPON ENTRY YOU WILL IMMEDIATELY FALL IN LOVE WITH ALL OF THE NATURAL LIGHT AND FLOWING FLOOR PLAN. A PLETHORA OF WINDOWS ALLOW YOU TO ENJOY YOUR HEAVILY WOODED PRIVATE BACKYARD! ENORMOUS BACK DECK, PERFECT FOR ENTERTAINING ON THOSE UPCOMING SUMMER NIGHTS! UPDATES AND UPGRADES GALORE INCLUDING NEW SPLIT SYSTEM HVAC AND ALL NEW DUCT WORK (2016), ROOF REPLACED (2012), NEWER CARPETING ON 2ND LEVEL AND WOOD FLOORING THROUGHOUT THE MAIN FLOOR. ADDITIONALLY THIS HOME HAS A FULL UNFINISHED BASEMENT READY FOR YOU TO COMPLETE AND YOUR OWN DESIGN AND TOUCHES. MAIN BEDROOM SUITE INCLUDES TRAY CEILINGS, BATHROOM WITH GARDEN TUB STAND UP SHOWER AND A WALK IN CLOSET. SECONDARY BEDROOMS ARE ALL A GREAT SIZE AND THE 4TH OVER-SIZED BEDROOM COULD SERVE AS A BONUS ROOM OR ANY FLEX SPACE THAT YOU DESIRE.
SEE MORE
- 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: Harris - Houston
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Harris - Houston
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,540 |
| EXPENSES | Loan Payment | -$990 |
| Property Tax | -$254 | |
| Property Insurance | -$72 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$104
|
||
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.
$285,000
PROJECTED PRICE
$1,540
PROJECTED RENT
0.54%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 9.2% |
| 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
$81,275
LOAN DETAILS
$990
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $71,250 |
| Loan Amount | $213,750 |
7
YEARS SAVED
$23,691
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,540
LIST RENT -
$0.64
LIST RENT PER SQFT
-
$1,625
COMP ESTIMATED VALUE -
$0.68
COMP AVG. RENT PER SQFT
Comps Range
-
3231 Harris Mill Lane Charlotte, NC 2
- 4 beds 3 baths ∙ 2,408 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,408 Sqft ∙ Built 1989
- Rent
- Rent Per SQFT
- $1,540
- $0.64
-
11503 Watermoss Lane Charlotte, NC 1
- 3 beds 3 baths ∙ 2,260 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,260 Sqft ∙ Built 1987
LEASED 07/21/20- Rent
- Rent Per SQFT
- $1,500
- $0.66
-
11023 Silver Glen Lane Charlotte, NC 3
- 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 2013
LEASED 04/01/20- Rent
- Rent Per SQFT
- $1,585
- $0.65
-
11123 Silver Glen Lane Charlotte, NC 4
- 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 2013
LEASED 12/19/20- Rent
- Rent Per SQFT
- $1,675
- $0.69
-
1036 Reigate Road Charlotte, NC 5
- 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 2004
LEASED 03/06/20- Rent
- Rent Per SQFT
- $1,695
- $0.70
PROPERTY LISTING DETAILS
1.980.254.5512
Allen Tate Concord
MLS #: 3717810
Last Updated: 03/12/2021
