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PROPERTY INFO
FACTS
- Single Family
- Built In 2015
- Price/Sqft : $93.25
- 5 Days on Market
- MLS # : 3690228
- Updated Date : 12/11/2020 at 22:32
CONSTRUCTION
- Beds : 3
- Floor Size : 2,680 sqft
- Baths : 2 full , 1 half
Listing Agent
The Blackmon Group, Llc
Listing Agent's Description
This beautiful home has a spacious family room and dining area that can be very versatile. The open kitchen leads outside to a level yard and over sized patio for wonderful entertaining. Travel upstairs to the area of three bedrooms with large walk in closets and two bathrooms. The master bedroom has high ceilings and that has a garden tub and separate shower. The master bedroom and closet are so oversized you will fall in love with it. Showings begin on Sunday, 12/13/2020 at 11am. Please schedule through showing time. Seller is selling personal Property in the home. See list of personal items in the home. Please make sure all lights are turned off and all doors and windows are locked when leaving. Please adhere to covid-19 protective measures when showing this property and ensure you are using masks, gloves, and hand sanitizer. Home is in the process of being professionally measured.
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
Neighborhood: Nevin Community
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Nevin Community
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,510 |
| EXPENSES | Loan Payment | -$922 |
| Property Tax | -$218 | |
| Property Insurance | -$78 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$174
|
||
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.
$249,900
PROJECTED PRICE
$1,510
PROJECTED RENT
0.60%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.94% |
| Appreciation Year (1-5) | 9.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.02% |
| 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
$71,974
LOAN DETAILS
$922
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $62,475 |
| Loan Amount | $187,425 |
8.67
YEARS SAVED
$34,600
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,510
LIST RENT -
$0.56
LIST RENT PER SQFT
-
$1,407
COMP ESTIMATED VALUE -
$0.53
COMP AVG. RENT PER SQFT
Comps Range
-
3631 Alexander Forest Drive Charlotte, NC 2
- 3 beds 3 baths ∙ 2,680 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,680 Sqft ∙ Built 2015
- Rent
- Rent Per SQFT
- $1,510
- $0.56
-
2927 Meadow Knoll Drive Charlotte, NC 1
- 3 beds 3 baths ∙ 2,630 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,630 Sqft ∙ Built 2007
LEASED 12/30/19- Rent
- Rent Per SQFT
- $1,350
- $0.51
-
8719 Oak Drive Charlotte, NC 3
- 4 beds 4 baths ∙ 2,885 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,885 Sqft ∙ Built 2013
LEASED 10/17/19- Rent
- Rent Per SQFT
- $1,550
- $0.54
PROPERTY LISTING DETAILS
1.704.287.3356
The Blackmon Group, Llc
