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4013 Lampasas Lane Charlotte, NC 28214

3 Beds 3 Baths 2,175 sqft Built 2020

$301,640

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $138.69
  • 5 Days on Market
  • MLS # : 3679341
  • Updated Date : 11/06/2020 at 12:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,175 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dr Horton Inc

Listing Agent's Description

Brand new community! Belmeade Crossing is located off Moores Chapel Rd. 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
 

$271,476$331,804$301,640

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,113
Property Tax -$277
Property Insurance -$68
HOA -$42
Property Management Fees -$140
CASH FLOW
-$89

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.

$301,640

PROJECTED PRICE

$1,550

PROJECTED RENT

0.51%

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

PROJECTED ANNUAL CASH FLOW

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

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$81,935

INVESTMENT

$81,935

Down Payment
$75,410
Rehab Estimate
$2,000
Closing Costs
$4,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,113

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,410
Loan Amount $226,230
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$8,123

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,571

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,5503$1,5504$1,5855$1,650
$1,650
RENT COMPS ANALYSIS
  • 4013 Lampasas Lane Charlotte, NC 3
    • 3 beds 3 baths ∙ 2,175 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,175 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.71
    •  
  • 908 Old Forester Lane Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,032 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,032 Sqft ∙ Built 2009
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.69
    •  
  • 10708 Ridge Acres Road Charlotte, NC 2
    • 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
    •  
  • 9648 Turning Wheel Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 2007
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $0.75
    •  
  • 2444 Sonoma Valley Drive Charlotte, NC 5
    • 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
    •  
PROPERTY LISTING DETAILS
Meka Martin
1.704.706.4227
Dr Horton Inc
BESbswy