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PROPERTY INFO
FACTS
- Single Family
- Built In 1952
- Price/Sqft : $166.09
- 5 Days on Market
- MLS # : 3719577
- Updated Date : 03/20/2021 at 15:27
CONSTRUCTION
- Beds : 3
- Floor Size : 1,324 sqft
- Baths : 2 full
Listing Agent
Re/max Executive
Listing Agent's Description
Charming brick Ranch home in Concord. This well kept home features 3 Bedrooms, 2 full bathrooms and 2 car carport. Nice level lot and back deck for entertaining guest. Sellers have beautiful flowers around the home in Springtime. This home will not last.
SEE MORE
- 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
Zip Code: 28027
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28027
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,130 |
| EXPENSES | Loan Payment | -$764 |
| Property Tax | -$232 | |
| Property Insurance | -$52 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$37
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.
$219,900
PROJECTED PRICE
$1,130
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 5.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$64,024
LOAN DETAILS
$764
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $54,975 |
| Loan Amount | $164,925 |
4.25
YEARS SAVED
$8,600
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,130
LIST RENT -
$0.85
LIST RENT PER SQFT
-
$1,231
COMP ESTIMATED VALUE -
$0.93
COMP AVG. RENT PER SQFT
Comps Range
-
400 Groff Street Concord, NC 1
- 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1952
- Rent
- Rent Per SQFT
- $1,130
- $0.85
-
262 Buffalo Avenue Concord, NC 2
- 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1900 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1900
LEASED 02/28/20- Rent
- Rent Per SQFT
- $1,150
- $0.88
-
679 Magnolia Crossing Circle Concord, NC 3
- 4 beds 2 baths ∙ 1,421 Sqft ∙ Built 2009 4 beds 2 baths ∙ 1,421 Sqft ∙ Built 2009
LEASED 01/01/20- Rent
- Rent Per SQFT
- $1,245
- $0.88
-
680 Magnolia Crossing Concord, NC 4
- 4 beds 2 baths ∙ 1,289 Sqft ∙ Built 2009 4 beds 2 baths ∙ 1,289 Sqft ∙ Built 2009
LEASED 10/01/19- Rent
- Rent Per SQFT
- $1,250
- $0.97
-
3656 Lake Spring Avenue Nw Concord, NC 5
- 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1995
LEASED 12/02/19- Rent
- Rent Per SQFT
- $1,550
- $0.99
PROPERTY LISTING DETAILS
1.704.707.6632
Re/max Executive
MLS #: 3719577
Last Updated: 03/20/2021
