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4015 Armstrong Farm Drive Belmont, NC 28012

5 Beds 3 Baths 2,433 sqft Built 2020

$322,900

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $132.72
  • 5 Days on Market
  • MLS # : 3688147
  • Updated Date : 12/02/2020 at 17:17
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,433 sqft
  • Baths : 3 full
Listing Agent

Meritage Homes Of The Carolina

Listing Agent's Description

Brand NEW Energy-Efficient home ready March 2021! Lockwood II first-floor flex space for a home office or guest bedroom. Upstairs, the primary suite boasts a sitting area and bath. Slate cabinets, ice white quartz countertops, cool grey EVP flooring with grey-brown carpet in our Distinct package. Amberley is ideally situated in the heart of Belmont where you can enjoy the outdoors with kayaking along the South Fork Catawba River or a variety of shopping and dining options on Main Street in nearby downtown. Highly-rated Gaston County schools. Known for their energy efficient features, our homes help you live a healthier and quieter lifestyle, while saving you thousands of dollars on utility bills.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$290,610$355,190$322,900

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,191
Property Tax -$227
Property Insurance -$73
HOA -$62
Property Management Fees -$119
CASH FLOW
$267

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$322,900

PROJECTED PRICE

$1,940

PROJECTED RENT

0.60%

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) 3.00%
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$5.0k$10k$15k$20k

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$87,569

INVESTMENT

$87,569

Down Payment
$80,725
Rehab Estimate
$2,000
Closing Costs
$4,844

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,191

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,725
Loan Amount $242,175
See What Happens When You Reinvest Cash Flow

9.83

YEARS SAVED

$56,169

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,882

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,825
1$1,8252$1,8503$1,9404$1,945
$1,945
RENT COMPS ANALYSIS
  • 4015 Armstrong Farm Drive Belmont, NC 3
    • 5 beds 3 baths ∙ 2,433 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,433 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.80
    •  
  • 1001 Bailey Kendall Way Belmont, NC 1
    • 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 2006
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.83
    •  
  • 2566 Shannon Drive Belmont, NC 2
    • 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 2004
    LEASED 07/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.74
    •  
  • 2800 Shannon Drive Belmont, NC 4
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2006
    LEASED 07/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.75
    •  
PROPERTY LISTING DETAILS
Jimmy Mcclurg
1.704.969.0153
Meritage Homes Of The Carolina
BESbswy