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3597 Leighton Drive Sw Concord, NC 28027

5 Beds 3 Baths 2,994 sqft Built 2006

$349,900

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $116.87
  • 2 Days on Market
  • MLS # : 3699382
  • Updated Date : 01/16/2021 at 18:31
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,994 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tmr Realty Inc.

Listing Agent's Description

Lovely large home (5 bedrooms!) in desirable Glen Grove subdivision. New roof (5/2019) and 2 new HVAC units (1/2020). Roof and HVAC with transferable warranties. New attic fans and whole house surge protectors. Master and 3 bedrooms on second floor with large bonus/bedroom on main floor. Bonus room/bedroom could easily have bathroom added to have master on the main, or use it for family room or playroom. Main floor has formal dining and office area along with two story great room open to the kitchen. Perfect location on fenced corner lot--walk from your back yard to the community pool, playground and community building. Large pond nearby with turtle sanctuary and walking path. Put the kids on the school bus just steps from your door. Close to everything! Active community with activities throughout the year for the whole family to enjoy. Clean, well-maintained one- owner home that is ready to move in. This will not last long!

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: Glengrove

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k323k

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

Neighborhood: Glengrove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8401929

* 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
Pitts School Road Elementary School Primary Regular 809 49 5
Hickory Ridge Middle School Middle Regular 1,164 65 NA
Hickory Ridge High School High Regular 1,573 77 7

Pitts School Road Elementary School

  • Education Level: Primary
  • # of students: 809
  • # of teachers: 49
5
GreatSchools Rating

Hickory Ridge Middle School

  • Education Level: Middle
  • # of students: 1,164
  • # of teachers: 65
NA
GreatSchools Rating

Hickory Ridge High School

  • Education Level: High
  • # of students: 1,573
  • # of teachers: 77
7
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,215
Property Tax -$401
Property Insurance -$84
HOA -$46
Property Management Fees -$119
CASH FLOW
-$65

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.

$349,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$11,734

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.6

    LIST RENT PER SQFT
  • $1,744

    COMP ESTIMATED VALUE
  • $0.58

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,6493$1,7004$1,7105$1,800
$1,800
RENT COMPS ANALYSIS
  • 3597 Leighton Drive Sw Concord, NC 5
    • 5 beds 3 baths ∙ 2,994 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,994 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.60
    •  
  • 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
    •  
  • 3282 Runneymede Street Concord, NC 4
    • 4 beds 3 baths ∙ 2,672 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,672 Sqft ∙ Built 2017
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.64
    •  
PROPERTY LISTING DETAILS
Jill Dickson
1.423.523.5662
Tmr Realty Inc.
BESbswy