Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 2013
- Price/Sqft : $162.96
- 3 Days on Market
- MLS # : 3710456
- Updated Date : 02/19/2021 at 18:43
CONSTRUCTION
- Beds : 4
- Floor Size : 1,890 sqft
- Baths : 2 full
Listing Agent
Opendoor Brokerage Llc
Listing Agent's Description
Built in 2013, this Concord one-story home offers a patio, granite countertops, and a two-car garage. This home is vacant and cleaned regularly. This home has been virtually staged to illustrate its potential.
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: Glengrove
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Glengrove
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,620 |
| EXPENSES | Loan Payment | -$1,070 |
| Property Tax | -$360 | |
| Property Insurance | -$63 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$9
|
||
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.
$308,000
PROJECTED PRICE
$1,620
PROJECTED RENT
0.53%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 3.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$87,370
LOAN DETAILS
$1,070
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $77,000 |
| Loan Amount | $231,000 |
5
YEARS SAVED
$15,692
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,620
LIST RENT -
$0.86
LIST RENT PER SQFT
-
$1,607
COMP ESTIMATED VALUE -
$0.85
COMP AVG. RENT PER SQFT
Comps Range
-
3498 Alister Avenue Concord, NC 4
- 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 2013
- Rent
- Rent Per SQFT
- $1,620
- $0.86
-
1064 Meadowbrook Lane Concord, NC 1
- 4 beds 3 baths ∙ 1,846 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,846 Sqft ∙ Built 2000
LEASED 08/21/19- Rent
- Rent Per SQFT
- $1,495
- $0.81
-
1065 Meadowbrook Lane Concord, NC 2
- 3 beds 3 baths ∙ 1,852 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,852 Sqft ∙ Built 2000
LEASED 04/03/20- Rent
- Rent Per SQFT
- $1,495
- $0.81
-
5043 Wheat Drive Sw Concord, NC 3
- 4 beds 3 baths ∙ 1,702 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,702 Sqft ∙ Built 2001
LEASED 07/07/20- Rent
- Rent Per SQFT
- $1,575
- $0.93
-
3520 Larkhaven Avenue Sw Concord, NC 5
- 3 beds 2 baths ∙ 1,924 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,924 Sqft ∙ Built 2015
LEASED 10/01/19- Rent
- Rent Per SQFT
- $1,645
- $0.85
PROPERTY LISTING DETAILS
1.704.751.0133
Opendoor Brokerage Llc
MLS #: 3710456
Last Updated: 02/19/2021
