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3912 Sages Avenue Indian Trail, NC 28079

3 Beds 3 Baths 1,364 sqft Built 2001

$244,900

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $179.55
  • 4 Days on Market
  • MLS # : 3714518
  • Updated Date : 03/25/2021 at 19:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,364 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bising Realty Group

Listing Agent's Description

DESIREABLE LAKE PARK GARDEN DISTRICT - This affordable Saussy Burbank home is a perfect choice for downsizing or starting a family. Large open floor plan on first floor with laundry room and half bath. Kitchen is open to dining and living areas, featuring a gas log fireplace. Bedrooms are located on the second floor with two full baths. The Master bedroom offers a full bath with garden tub ensuite. The second full bath is shared by the additional two bedrooms. Fresh interior paint job and new carpeting.

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: 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
 

$220,410$269,390$244,900

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$851
Property Tax -$160
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$227

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.

$244,900

PROJECTED PRICE

$1,410

PROJECTED RENT

0.58%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,649

INVESTMENT

$70,649

Down Payment
$61,225
Rehab Estimate
$5,750
Closing Costs
$3,674

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,225
Loan Amount $183,675
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$38,520

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,408

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4103$1,4504$1,5005$1,550
$1,550
RENT COMPS ANALYSIS
  • 3912 Sages Avenue Indian Trail, NC 2
    • 3 beds 3 baths ∙ 1,364 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,364 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $1.03
    •  
  • 6002 Kenmore Lane Indian Trail, NC 1
    • 3 beds 2 baths ∙ 1,271 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,271 Sqft ∙ Built 1991
    LEASED 11/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.06
    •  
  • 4012 Lake Charles Way Indian Trail, NC 3
    • 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1997
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.96
    •  
  • 3502 Braefield Drive Indian Trail, NC 4
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1999
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.07
    •  
  • 5906 Hoover Street Indian Trail, NC 5
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1994
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.04
    •  
PROPERTY LISTING DETAILS
Guy Bising
1.704.995.2120
Bising Realty Group
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3714518
Last Updated: 03/25/2021
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