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PROPERTY INFO
FACTS
- Single Family
- Built In 2011
- Price/Sqft : $115.56
- 2 Days on Market
- MLS # : 3709629
- Updated Date : 02/21/2021 at 00:05
CONSTRUCTION
- Beds : 5
- Floor Size : 3,245 sqft
- Baths : 3 full , 1 half
Listing Agent
Keller Williams Fort Mill
Listing Agent's Description
Welcome home to this stunning property that features hardwood floors on main, granite counters, kitchen island, flex space/study on main, master bedroom with a custom closet, and a gas log fireplace. The sliding back door opens to a spacious patio and yard. Upstairs boasts a large bonus room and four additional bedrooms.
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 | $1,910 |
| EXPENSES | Loan Payment | -$1,303 |
| Property Tax | -$451 | |
| Property Insurance | -$88 | |
| HOA | -$42 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$93
|
||
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.
$375,000
PROJECTED PRICE
$1,910
PROJECTED RENT
0.51%
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
$105,125
LOAN DETAILS
$1,303
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $93,750 |
| Loan Amount | $281,250 |
3.42
YEARS SAVED
$10,961
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,910
LIST RENT -
$0.59
LIST RENT PER SQFT
-
$1,828
COMP ESTIMATED VALUE -
$0.56
COMP AVG. RENT PER SQFT
Comps Range
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3505 Larkhaven Avenue Concord, NC 4
- 5 beds 4 baths ∙ 3,245 Sqft ∙ Built 2011 5 beds 4 baths ∙ 3,245 Sqft ∙ Built 2011
- Rent
- Rent Per SQFT
- $1,910
- $0.59
-
4642 Dunberry Place Concord, NC 1
- 4 beds 3 baths ∙ 3,069 Sqft ∙ Built 2009 4 beds 3 baths ∙ 3,069 Sqft ∙ Built 2009
LEASED 01/17/20- Rent
- Rent Per SQFT
- $1,625
- $0.53
-
5324 Bendix Court Harrisburg, NC 2
- 4 beds 3 baths ∙ 3,036 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,036 Sqft ∙ Built 2005
LEASED 02/25/20- Rent
- Rent Per SQFT
- $1,649
- $0.54
-
5536 Hammermill Drive Harrisburg, NC 3
- 4 beds 3 baths ∙ 2,914 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,914 Sqft ∙ Built 2005
LEASED 07/20/20- Rent
- Rent Per SQFT
- $1,700
- $0.58
PROPERTY LISTING DETAILS
1.864.901.1087
Keller Williams Fort Mill
MLS #: 3709629
Last Updated: 02/21/2021
