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PROPERTY INFO
FACTS
- Single Family
- Built In 2013
- Price/Sqft : $172.28
- 4 Days on Market
- MLS # : 3708991
- Updated Date : 02/20/2021 at 19:08
CONSTRUCTION
- Beds : 3
- Floor Size : 2,031 sqft
- Baths : 3 full
Listing Agent
Northstar Real Estate, Llc
Listing Agent's Description
Gated Community constructed of Beautiful Brick homes right near the heart of Cramerton! This neighborhood is nestled on Cramer Mountain Club. Don't play golf? No worries! Cramer Mountain Club has a little bit of something for everyone and if they don't the City of Cramerton has you covered! From multiple munching options to an awesome Coffee Shop Downtown, order your favorite drink and enjoy the scenic route through Goat Island Park! Welcome Home!
SEE MORE
- 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
Zip Code: 28032
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28032
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,780 |
| EXPENSES | Loan Payment | -$1,215 |
| Property Tax | -$286 | |
| Property Insurance | -$65 | |
| HOA | -$35 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$59
|
||
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.
$349,900
PROJECTED PRICE
$1,780
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 8.1% |
| 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
$98,474
LOAN DETAILS
$1,215
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $87,475 |
| Loan Amount | $262,425 |
5.83
YEARS SAVED
$23,033
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,780
LIST RENT -
$0.88
LIST RENT PER SQFT
-
$1,813
COMP ESTIMATED VALUE -
$0.89
COMP AVG. RENT PER SQFT
Comps Range
-
4011 Saint Andrews Court Cramerton, NC 2
- 3 beds 3 baths ∙ 2,031 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,031 Sqft ∙ Built 2013
- Rent
- Rent Per SQFT
- $1,780
- $0.88
-
5212 Newport Landing Way Gastonia, NC 1
- 4 beds 3 baths ∙ 1,911 Sqft ∙ Built 2013 4 beds 3 baths ∙ 1,911 Sqft ∙ Built 2013
LEASED 02/19/21- Rent
- Rent Per SQFT
- $1,775
- $0.93
-
6153 Rosemore Lane Gastonia, NC 3
- 3 beds 3 baths ∙ 1,913 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,913 Sqft ∙ Built 2019
LEASED 03/23/20- Rent
- Rent Per SQFT
- $1,825
- $0.95
-
4901 Wilcrest Court Gastonia, NC 4
- 4 beds 3 baths ∙ 2,234 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,234 Sqft ∙ Built 2019
LEASED 03/26/20- Rent
- Rent Per SQFT
- $1,843
- $0.83
-
6169 Rosemore Lane Gastonia, NC 5
- 4 beds 3 baths ∙ 2,181 Sqft ∙ Built 4 beds 3 baths ∙ 2,181 Sqft ∙ Built
LEASED 01/28/20- Rent
- Rent Per SQFT
- $1,850
- $0.85
PROPERTY LISTING DETAILS
1.704.214.6106
Northstar Real Estate, Llc
MLS #: 3708991
Last Updated: 02/20/2021
