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4005 Lampasas Lane Charlotte, NC 28214

4 Beds 3 Baths 2,207 sqft Built 2020

$299,290

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $135.61
  • 4 Days on Market
  • MLS # : 3678235
  • Updated Date : 11/01/2020 at 15:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,207 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dr Horton Inc

Listing Agent's Description

Top Selling Pinehurst floor plan! Open concept with site lines straight from kitchen to the family room. As you walk in the front door the dining room has pass open throughs to the kitchen and family room. Kitchen features 36" cabinets, granite countertops w/ tile backsplash, LED lights, laminate flooring on the first floor, upstairs has 4 bedrooms, including a large owners suite w/on suite bath! Belmeade Crossing is located off Exit 12 on I-485 near the Whitewater Center, airport, Riverbend Village Shopping Center, Uptown Charlotte, University area etc! This home is an incredible value with all the benefits of new construction and a 10 yr. Home Warranty! Home Is Connected? includes programmable thermostat, Z-Wave door lock and wireless switch, touchscreen control device, automation platform, video doorbell, and Amazon Echo and Echo Dot. All home features are subject to change without notice. Internet service not included.

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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: Moores Chapel

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Moores Chapel

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
Whitewater Academy Primary Unknown 756 45 NA
Whitewater Middle School Middle Regular 924 53 5
West Mecklenburg High School High Regular 2,040 108 1

Whitewater Academy

  • Education Level: Primary
  • # of students: 756
  • # of teachers: 45
NA
GreatSchools Rating

Whitewater Middle School

  • Education Level: Middle
  • # of students: 924
  • # of teachers: 53
5
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating
 

$269,361$329,219$299,290

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,104
Property Tax -$277
Property Insurance -$69
HOA -$42
Property Management Fees -$148
CASH FLOW
$1

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$299,290

PROJECTED PRICE

$1,640

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 3.00%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,312

INVESTMENT

$81,312

Down Payment
$74,823
Rehab Estimate
$2,000
Closing Costs
$4,489

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,104

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,823
Loan Amount $224,468
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$14,328

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,606

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,6404$1,6505$1,745
$1,745
RENT COMPS ANALYSIS
  • 4005 Lampasas Lane Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,207 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,207 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.74
    •  
  • 10708 Ridge Acres Road Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,240 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,240 Sqft ∙ Built 1997
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.69
    •  
  • 544 Knothole Lane Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,124 Sqft ∙ Built 3 beds 3 baths ∙ 2,124 Sqft ∙ Built
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.73
    •  
  • 2444 Sonoma Valley Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2007
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.72
    •  
  • 1244 San Gabriel Avenue Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2016
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.73
    •  
PROPERTY LISTING DETAILS
Haley Courtright
1.704.661.2747
Dr Horton Inc
BESbswy