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340 Valley Glenn Court Concord, NC 28027

3 Beds 2 Baths 1,322 sqft Built 2001

$215,900

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $163.31
  • 3 Days on Market
  • MLS # : 3678249
  • Updated Date : 11/01/2020 at 20:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,322 sqft
  • Baths : 2 full
Listing Agent

Re/max Leading Edge

Listing Agent's Description

Location Location Location!- Well maintained 3 bedroom 2 full bath ranch located in a small quaint neighborhood in Concord! This adorable split bedroom plan offers a large great room, spacious kitchen with a pantry, separate laundry room, dining area with access to a large deck overlooking the backyard! Master suite has a walk-in closet, garden tub and separate shower. Closet storage through out! Covered front porch! All situated on .38 Acre cul-de-sac lot! Storage building and carport! Roof approximate 5 years old! Just mins to I-85, 4-85 and Hwy 29! Near major shopping. medical offices and hospital!

SEE MORE

MARKET HIGHLIGHTS

  • 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: Deerfield Hills

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k216k

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

Neighborhood: Deerfield Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270075080085090095010001050110011501200125013001350Rent in $6771375

* 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
Beverly Hills Elementary School Primary Regular 355 24 2
Northwest Cabarrus Middle School Middle Regular 905 58 4
Northwest Cabarrus High School High Regular 1,198 72 3

Beverly Hills Elementary School

  • Education Level: Primary
  • # of students: 355
  • # of teachers: 24
2
GreatSchools Rating

Northwest Cabarrus Middle School

  • Education Level: Middle
  • # of students: 905
  • # of teachers: 58
4
GreatSchools Rating

Northwest Cabarrus High School

  • Education Level: High
  • # of students: 1,198
  • # of teachers: 72
3
GreatSchools Rating
 

$194,310$237,490$215,900

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$797
Property Tax -$228
Property Insurance -$52
Property Management Fees -$113
CASH FLOW
$70

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.

$215,900

PROJECTED PRICE

$1,260

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,964

INVESTMENT

$62,964

Down Payment
$53,975
Rehab Estimate
$5,750
Closing Costs
$3,239

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$797

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,975
Loan Amount $161,925
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$16,325

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,124

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,099
1$1,0992$1,2453$1,2454$1,2605$1,395
$1,395
RENT COMPS ANALYSIS
  • 340 Valley Glenn Court Concord, NC 4
    • 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.95
    •  
  • 924 Pine Circle Drive Concord, NC 1
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 2002
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,099
    • $0.85
    •  
  • 679 Magnolia Crossing Circle Concord, NC 2
    • 4 beds 2 baths ∙ 1,421 Sqft ∙ Built 2009 4 beds 2 baths ∙ 1,421 Sqft ∙ Built 2009
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $0.88
    •  
  • 33 Barber Street Concord, NC 3
    • 3 beds 3 baths ∙ 1,494 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,494 Sqft ∙ Built 2017
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $0.83
    •  
  • 429 Havenbrook Way Concord, NC 5
    • 3 beds 3 baths ∙ 1,599 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,599 Sqft ∙ Built 2002
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.87
    •  
PROPERTY LISTING DETAILS
Karen Courtney
1.704.791.5694
Re/max Leading Edge
BESbswy