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3682 Stonefield Street Sw Concord, NC 28027

3 Beds 2 Baths 1,622 sqft Built 1996

$255,900

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $157.77
  • 8 Days on Market
  • MLS # : 3692728
  • Updated Date : 12/23/2020 at 09:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,622 sqft
  • Baths : 2 full
Listing Agent

Keller Williams South Park

Listing Agent's Description

Never miss the chance of living in this fantastic 1 story home with 3 bedrooms and 2 full baths, just a few miles away from Frank Liske Park and shopping centers for entertaining. This home features a generous living space accentuated with a warm fireplace that opens up to a well-lit formal dining area and a lovely kitchen perfect for prepping meals. This home also offers a cozy primary bedroom with an elegant ensuite bath. An additional 2 bedrooms with a shared bath, a laundry room, and a mechanical room are also available. It also boasts an expansive patio perfect for morning coffees and barbecuing. See for your own eyes! Come and schedule your visit now! Photos are virtually staged. Size of furniture and decorations are for reference only.

SEE MORE

MARKET HIGHLIGHTS

  • 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: Greystone

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Greystone

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8401809

* 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
Harold Winkler Middle School Middle Regular 978 60 6
Jay M Robinson High School High Regular 1,339 86 3

Pitts School Road Elementary School

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

Harold Winkler Middle School

  • Education Level: Middle
  • # of students: 978
  • # of teachers: 60
6
GreatSchools Rating

Jay M Robinson High School

  • Education Level: High
  • # of students: 1,339
  • # of teachers: 86
3
GreatSchools Rating
 

$230,310$281,490$255,900

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$944
Property Tax -$270
Property Insurance -$58
HOA -$10
Property Management Fees -$119
CASH FLOW
$48

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.

$255,900

PROJECTED PRICE

$1,450

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,564

INVESTMENT

$73,564

Down Payment
$63,975
Rehab Estimate
$5,750
Closing Costs
$3,839

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$944

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,975
Loan Amount $191,925
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$23,425

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,476

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,299
1$1,2992$1,4503$1,4504$1,5755$1,645
$1,645
RENT COMPS ANALYSIS
  • 3682 Stonefield Street Sw Concord, NC 3
    • 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.89
    •  
  • 3969 Hollows Glen Court Sw Concord, NC 1
    • 4 beds 2 baths ∙ 1,511 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,511 Sqft ∙ Built 1998
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.86
    •  
  • 4337 Fescue Place Concord, NC 2
    • 3 beds 3 baths ∙ 1,450 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,450 Sqft ∙ Built 2002
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.00
    •  
  • 5043 Wheat Drive Sw Concord, NC 4
    • 4 beds 3 baths ∙ 1,702 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,702 Sqft ∙ Built 2001
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.93
    •  
  • 3520 Larkhaven Avenue Sw Concord, NC 5
    • 3 beds 2 baths ∙ 1,924 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,924 Sqft ∙ Built 2015
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.85
    •  
PROPERTY LISTING DETAILS
Trent Corbin
1.704.628.4066
Keller Williams South Park
BESbswy