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3926 Arvin Drive Charlotte, NC 28269

3 Beds 2 Baths 1,740 sqft Built 1955

$210,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $120.69
  • 5 Days on Market
  • MLS # : 3691933
  • Updated Date : 01/15/2021 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,740 sqft
  • Baths : 2 full
Listing Agent

Hl Real Estate Group, Llc

Listing Agent's Description

EXTREMELY RARE opportunity to purchase a FULL brick ranch home in the rapidly growing North side of Charlotte. Enough space in the interior to open up to your imagination. Great home in an even better CORNER lot, leveled, and fenced to create the back (and front) yard you desire. Seller has maintained a termite prevention service offer the years of ownership and has kept the crawlspace clean and dry professionally. High risk tenant occupied home so no showings until offer is accepted. Investors welcome. Tenants are open to staying in the home, have been living in the home for the past 6+ years. Property is sold "as is" and seller will not make any repairs or give credits for closing.

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: Nevin Community

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Nevin Community

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771518

* 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
Winding Springs Elementary School Primary Regular 859 60 3
James Martin Middle School Middle Regular 1,113 54 3
North Mecklenburg High School High Regular 1,881 101 3

Winding Springs Elementary School

  • Education Level: Primary
  • # of students: 859
  • # of teachers: 60
3
GreatSchools Rating

James Martin Middle School

  • Education Level: Middle
  • # of students: 1,113
  • # of teachers: 54
3
GreatSchools Rating

North Mecklenburg High School

  • Education Level: High
  • # of students: 1,881
  • # of teachers: 101
3
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$729
Property Tax -$183
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$219

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.

$210,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

10.5

YEARS SAVED

$32,600

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,375

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,310
1$1,3102$1,3953$1,3954$1,4955$1,495
$1,495
RENT COMPS ANALYSIS
  • 3926 Arvin Drive Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.75
    •  
  • 4526 Esmeralda Drive Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2013
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.79
    •  
  • 4640 Belmar Place Road Charlotte, NC 3
    • 3 beds 4 baths ∙ 1,828 Sqft ∙ Built 2009 3 beds 4 baths ∙ 1,828 Sqft ∙ Built 2009
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.76
    •  
  • 3516 Ribbonwalk Trail Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,890 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,890 Sqft ∙ Built 2018
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.79
    •  
  • 3632 Ribbonwalk Trail Charlotte, NC 5
    • 4 beds 3 baths ∙ 1,824 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,824 Sqft ∙ Built 2007
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.82
    •  
PROPERTY LISTING DETAILS
Juan Pablo Vidal Garcia
1.816.588.6031
Hl Real Estate Group, Llc
BESbswy