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4005 Belle Meade Circle Belmont, NC 28012

5 Beds 4 Baths 3,240 sqft Built 1999

$489,900

List Price

$2,590

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $151.20
  • 2 Days on Market
  • MLS # : CAR3760823
  • Updated Date : 07/12/2021 at 21:17
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,240 sqft
  • Baths : 4 full
Listing Agent

Offerpad Brokerage Llc

Listing Agent's Description

VACANT! Welcome Home! This exquisite 5-bedroom home sits on a beautiful lot! Formal living room to your left, which adjoins to the formal dining room. Occupying the rear half of the home is your great room, which consists of a gourmet kitchen with a large center island, granite countertops and stainless appliances as well as the family room with built in shelving and a ton of natural light. Off the kitchen is a large rear deck that leads out to your fenced rear yard. Upstairs you will find a spacious owner's suite with tray ceilings, an attached bathroom with dual sinks, separate tub and shower, and a large walk-in closet. On this level are three secondary bedrooms, two more full bathrooms, and a sprawling bonus/media room. This home is move-in ready, and just waiting for you to make yourselves at home! Stop by today, you won't want to miss it!

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

Zip Code: 28012

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210kPrice in $113k213k

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

Zip Code: 28012

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350Rent in $8421396

* 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
Belmont Central Elementary School Primary Regular 678 35 7
Belmont Middle School Middle Regular 726 39 6
South Point High School High Regular 1,101 61 6

Belmont Central Elementary School

  • Education Level: Primary
  • # of students: 678
  • # of teachers: 35
7
GreatSchools Rating

Belmont Middle School

  • Education Level: Middle
  • # of students: 726
  • # of teachers: 39
6
GreatSchools Rating

South Point High School

  • Education Level: High
  • # of students: 1,101
  • # of teachers: 61
6
GreatSchools Rating
 

$440,910$538,890$489,900

PURCHASE PRICE

$2,331$2,849$2,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,590
EXPENSES Loan Payment -$1,702
Property Tax -$367
Property Insurance -$88
HOA -$12
Property Management Fees -$119
CASH FLOW
$302

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.

$489,900

PROJECTED PRICE

$2,590

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,574

INVESTMENT

$135,574

Down Payment
$122,475
Rehab Estimate
$5,750
Closing Costs
$7,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,702

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,475
Loan Amount $367,425
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$54,423

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,590

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,592

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,4953$2,5454$2,590
$2,590
RENT COMPS ANALYSIS
  • 4005 Belle Meade Circle Belmont, NC 4
    • 5 beds 4 baths ∙ 3,240 Sqft ∙ Built 1999 5 beds 4 baths ∙ 3,240 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $0.80
    •  
  • 6013 Thorburn Way Belmont, NC 1
    • 5 beds 4 baths ∙ 3,068 Sqft ∙ Built 2012 5 beds 4 baths ∙ 3,068 Sqft ∙ Built 2012
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.80
    •  
  • 2143 Southridge Drive Belmont, NC 2
    • 5 beds 4 baths ∙ 3,186 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,186 Sqft ∙ Built 2006
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.78
    •  
  • 1072 Victoria Blake Lane Belmont, NC 3
    • 5 beds 3 baths ∙ 3,121 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,121 Sqft ∙ Built 2007
    LEASED 03/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,545
    • $0.82
    •  
PROPERTY LISTING DETAILS
Derek Dickson
1.704.810.1576
Offerpad Brokerage Llc
BESbswy