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3786 Sedgewick Drive Concord, NC 28027

3 Beds 2 Baths 1,604 sqft Built 1998

$269,900

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $168.27
  • 27 Days on Market
  • MLS # : 3693150
  • Updated Date : 01/15/2021 at 17:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,604 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Premier

Listing Agent's Description

Call it home. This is the one you've been looking for, one story home with a split bedroom floorplan. Fireplace, vaulted ceiling and a great room that opens up to the kitchen and dining room. Lets talk owner's privacy-owners suite is at the back of the house apart from the other bedrooms, featuring a tray ceiling, separated tub and shower, double vanities and a large walk-in closet. A 2 car garage plan which has been converted (unpermitted) to a large den adds another 428 sf of heated space. Also enjoy a screened in patio on those fresh spring mornings. You will absolutely love the custom built deck that is separated from the screened in porch by a nice display of landscaping stones properly placed between the deck and patio-a must see. Fenced in backyard and many other features to note.

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: 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
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$937
Property Tax -$285
Property Insurance -$57
HOA -$10
Property Management Fees -$119
CASH FLOW
-$49

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.

$269,900

PROJECTED PRICE

$1,360

PROJECTED RENT

0.50%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

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$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$937

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$12,093

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,496

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,299
1$1,2992$1,3603$1,4504$1,5755$1,800
$1,800
RENT COMPS ANALYSIS
  • 3786 Sedgewick Drive Concord, NC 2
    • 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.85
    •  
  • 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
    property image
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.86
    •  
  • 4337 Fescue Place Concord, NC 3
    • 3 beds 3 baths ∙ 1,450 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,450 Sqft ∙ Built 2002
    property image
    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
    property image
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.93
    •  
  • 6287 Spring Court Lane Harrisburg, NC 5
    • 3 beds 3 baths ∙ 1,815 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,815 Sqft ∙ Built 1991
    property image
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
PROPERTY LISTING DETAILS
Randy Thompson
1.980.248.5512
Keller Williams Premier
BESbswy