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3546 Nevin Brook Road Charlotte, NC 28269

3 Beds 3 Baths 1,680 sqft Built 2000

$210,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $125.00
  • 10 Days on Market
  • MLS # : 3680287
  • Updated Date : 11/14/2020 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,680 sqft
  • Baths : 2 full , 1 half
Listing Agent

Covo Realty

Listing Agent's Description

Showings start Sunday Nov, 15th. 3 bedrooms and 2.5 bathrooms convenient to Northlake Mall, I-77, Ribbonwalk Nature Preserve and Nevin Community Park. This 2-story home has a one-car garage and a spacious backyard that offers some privacy. The main floor consists of a formal dining room, kitchen, laundry room and large living room. All bedrooms are located upstairs.

SEE MORE

MARKET HIGHLIGHTS

  • 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: Derita - Statesville

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Derita - Statesville

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771518

* 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
Governors' Village Stem Academy Lower Campus Primary Regular 815 53 4
Vance High School High Regular 1,714 91 3

Governors' Village Stem Academy Lower Campus

  • Education Level: Primary
  • # of students: 815
  • # of teachers: 53
4
GreatSchools Rating

Vance High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 91
3
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$775
Property Tax -$183
Property Insurance -$59
Property Management Fees -$117
CASH FLOW
$166

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.

$210,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.8%
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$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$27,270

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,378

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,199
1$1,1992$1,2503$1,3004$1,3955$1,495
$1,495
RENT COMPS ANALYSIS
  • 3546 Nevin Brook Road Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.77
    •  
  • 4629 Brenda Court Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1982
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,199
    • $0.76
    •  
  • 5102 Elizabeth Road Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2002
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.84
    •  
  • 4640 Belmar Place Road Charlotte, NC 4
    • 3 beds 4 baths ∙ 1,828 Sqft ∙ Built 2009 3 beds 4 baths ∙ 1,828 Sqft ∙ Built 2009
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.76
    •  
  • 3632 Ribbonwalk Trail Charlotte, NC 5
    • 4 beds 3 baths ∙ 1,824 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,824 Sqft ∙ Built 2007
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.82
    •  
PROPERTY LISTING DETAILS
Wendy Oyola
1.704.902.3986
Covo Realty
BESbswy