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358 Cape Breton Trail 
Gastonia, NC
28056
3 Beds 2 Baths 1,406 sqft
Built 1997
INVESTimate
$230,000
List Price
$66,700
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PROPERTY INFO
FACTS
- Built In 1997
- Price/Sqft : $163.58
- 2 Days on Market
- MLS # : 3655439
- Updated Date : 08/25/2020 at 13:30
CONSTRUCTION
- Beds : 3
- Floor Size : 1,406 sqft
- Baths : 2 full
Listing Agent
Allen Tate Gastonia
Listing Agent's Description
Adorable renovated home situated on a double lot ( .79acres), **complete list of upgrades in the attachments*** so don't miss them, unfinished bonus room over the garage with permanent stairway, brand new rear deck, all new kitchen and baths with updated appliances, subway tile and granite countertops, 9' ceilings throughout, beautiful family room FP with "Airstone" front, split bedroom floorplan, encapsulated crawlspace with dehumidifier, completely rewired, this one will not last.
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
Zip Code: 28056
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28056
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,280 |
| EXPENSES | Loan Payment | -$849 |
| Property Tax | -$131 | |
| Property Insurance | -$54 | |
| Property Management Fees | -$115 | |
|
CASH FLOW
$132
|
||
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.
$230,000
PROJECTED PRICE
$1,280
PROJECTED RENT
0.56%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 4.62% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$66,700
LOAN DETAILS
$849
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $57,500 |
| Loan Amount | $172,500 |
7.42
YEARS SAVED
$25,335
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,280
LIST RENT -
$0.91
LIST RENT PER SQFT
-
$1,279
COMP ESTIMATED VALUE -
$0.91
COMP AVG. RENT PER SQFT
Comps Range
-
358 Cape Breton Trail Gastonia, NC 2
- 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 1997
- Rent
- Rent Per SQFT
- $1,280
- $0.91
-
3117 Beaty Road Gastonia, NC 1
- 3 beds 1 baths ∙ 1,161 Sqft ∙ Built 1920 3 beds 1 baths ∙ 1,161 Sqft ∙ Built 1920
LEASED 12/18/19- Rent
- Rent Per SQFT
- $1,000
- $0.86
-
2626 Fairgreen Drive Gastonia, NC 3
- 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1967
LEASED 03/01/19- Rent
- Rent Per SQFT
- $1,395
- $1.00
-
3924 Catawba Hills Drive Gastonia, NC 4
- 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 2015
LEASED 06/27/20- Rent
- Rent Per SQFT
- $1,450
- $0.87
PROPERTY LISTING DETAILS
1.704.214.3088
Allen Tate Gastonia
