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3807 Lincoln Court Indian Trail, NC 28079

4 Beds 3 Baths 1,995 sqft Built 1999

$315,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $157.89
  • 3 Days on Market
  • MLS # : 3712277
  • Updated Date : 02/27/2021 at 15:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,995 sqft
  • Baths : 2 full , 1 half
Listing Agent

Prostead Realty

Listing Agent's Description

***MULTIPLE OFFERS - ALL OFFERS MUST BE IN BY 5:00 PM SUNDAY. 2/28.*** Beautiful home in Desirable Lake Park! New Vinyl plank flooring on main level & new interior paint! Huge living room with fireplace & new tile surround, large windows, sunny breakfast room! All new kitchen/new cabinets, granite countertops, sink & faucet! Large, subway tile backsplash. Pantry is a wall of cabinets! All SS appliances stay! Formal dining room with crown & chair molding. Even the powder room has had an update w/new cabinets, granite cntps, new sink, faucet, mirror & lighting! Upstairs is a large master bedroom w/deep, tray ceiling & fan/light. Master bathroom has oversized shower, jetted tub tile surround, dual sinks, lots of storage & tile floor! Also up are hall bathroom, 2 bedroom & bonus/bedroom. Outside is large (21’ x 26’), stone patio with built-in walls for extra seating, BBQ is hooked up to gas line & a fenced yard. Shed has elecricity. HVAC - 2013, ROOF - 2020, WATER HEATER -2016

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lake Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Lake Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Poplin Elementary School Primary Regular 719 40 7
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Poplin Elementary School

  • Education Level: Primary
  • # of students: 719
  • # of teachers: 40
7
GreatSchools Rating

Porter Ridge Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 72
7
GreatSchools Rating

Porter Ridge High School

  • Education Level: High
  • # of students: 1,591
  • # of teachers: 77
7
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,094
Property Tax -$206
Property Insurance -$65
HOA -$7
Property Management Fees -$119
CASH FLOW
$280

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.

$315,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.4%
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$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

10.42

YEARS SAVED

$48,375

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,771

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,7703$1,8004$1,8005$1,845
$1,845
RENT COMPS ANALYSIS
  • 3807 Lincoln Court Indian Trail, NC 2
    • 4 beds 3 baths ∙ 1,995 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,995 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.89
    •  
  • 6622 Courtland Street Indian Trail, NC 1
    • 4 beds 3 baths ∙ 1,919 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,919 Sqft ∙ Built 2001
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.82
    •  
  • 3805 Lincoln Court Indian Trail, NC 3
    • 4 beds 3 baths ∙ 2,120 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,120 Sqft ∙ Built 1998
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.85
    •  
  • 3910 Faith Church Road Indian Trail, NC 4
    • 4 beds 3 baths ∙ 1,924 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,924 Sqft ∙ Built 1999
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.94
    •  
  • 3810 Alden Street Indian Trail, NC 5
    • 4 beds 3 baths ∙ 1,967 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,967 Sqft ∙ Built 1998
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.94
    •  
PROPERTY LISTING DETAILS
Wendy Richards
1.704.604.6115
Prostead Realty
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3712277
Last Updated: 02/27/2021
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