Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

401 Mallard Drive Pineville, NC 28134

3 Beds 3 Baths 1,553 sqft Built 1987

$269,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $173.21
  • -2 Days on Market
  • MLS # : CAR3761459
  • Updated Date : 07/12/2021 at 21:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,553 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin Corporation (161705)

Listing Agent's Description

MORE DETAILS COMNG SOON Showings will only be Saturday and Sunday .

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

Neighborhood: Pineville

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $108k251k

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

Neighborhood: Pineville

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8421652

* 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
Pineville Elementary School Primary Regular 811 45 7
Quail Hollow Middle School Middle Regular 946 51 3
South Mecklenburg High School High Regular 2,913 147 7

Pineville Elementary School

  • Education Level: Primary
  • # of students: 811
  • # of teachers: 45
7
GreatSchools Rating

Quail Hollow Middle School

  • Education Level: Middle
  • # of students: 946
  • # of teachers: 51
3
GreatSchools Rating

South Mecklenburg High School

  • Education Level: High
  • # of students: 2,913
  • # of teachers: 147
7
GreatSchools Rating
 

$242,100$295,900$269,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$934
Property Tax -$222
Property Insurance -$56
HOA -$4
Property Management Fees -$119
CASH FLOW
$114

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.

$269,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 9.2%
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

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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,035

INVESTMENT

$77,035

Down Payment
$67,250
Rehab Estimate
$5,750
Closing Costs
$4,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$934

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,250
Loan Amount $201,750
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$24,212

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,448

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,4954$1,5255$1,549
$1,549
RENT COMPS ANALYSIS
  • 401 Mallard Drive Pineville, NC 2
    • 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.93
    •  
  • 12227 Stratfield Place Circle Pineville, NC 1
    • 3 beds 3 baths ∙ 1,570 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,570 Sqft ∙ Built 2005
    LEASED 06/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 11629 Stockdale Court Pineville, NC 3
    • 3 beds 3 baths ∙ 1,706 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,706 Sqft ∙ Built 2007
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.88
    •  
  • 11709 Stockdale Court Pineville, NC 4
    • 3 beds 3 baths ∙ 1,603 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,603 Sqft ∙ Built 2007
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.95
    •  
  • 12069 Stratfield Place Pineville, NC 5
    • 3 beds 3 baths ∙ 1,586 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,586 Sqft ∙ Built 2007
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $0.98
    •  
PROPERTY LISTING DETAILS
Jill Moyer
1.704.778.5299
Redfin Corporation (161705)
BESbswy