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3914 Lincoln Court Indian Trail, NC 28079

4 Beds 3 Baths 2,100 sqft Built 1998

$315,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $150.00
  • 9 Days on Market
  • MLS # : 3715142
  • Updated Date : 03/12/2021 at 08:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,100 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allen Tate Matthews/mint Hill

Listing Agent's Description

Beautiful cul-de-sac home in desirable Lake Park with .68 acres. Kitchen was remodeled in 2015 with all new cabinets and granite countertops and has stainless appliances. All full bathrooms tastefully remodeled. This property has an amazing and spacious lot, tankless water heater and much more. The home offers four bedrooms and 2.5 baths. The site built storage building is two stories with cabinets and electricity. Carpets have just been professionally cleaned.

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: 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

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,094
Property Tax -$206
Property Insurance -$67
HOA -$7
Property Management Fees -$119
CASH FLOW
$248

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

$1,740

PROJECTED RENT

0.55%

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 35% 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

9.83

YEARS SAVED

$44,725

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,864

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,7403$1,8004$1,8005$1,845
$1,845
RENT COMPS ANALYSIS
  • 3914 Lincoln Court Indian Trail, NC 2
    • 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.83
    •  
  • 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
    property image
    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
    property image
    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
    property image
    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
    property image
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.94
    •  
PROPERTY LISTING DETAILS
Caroline Grossman
1.704.778.8660
Allen Tate Matthews/mint Hill
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3715142
Last Updated: 03/12/2021
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