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4024 Garden Oak Drive Indian Trail, NC 28079

5 Beds 5 Baths 3,216 sqft Built 2014

$439,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $136.50
  • 14 Days on Market
  • MLS # : 3685959
  • Updated Date : 12/05/2020 at 12:58
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,216 sqft
  • Baths : 4 full , 1 half
Listing Agent

Keller Williams South Park

Listing Agent's Description

Fully Finished Basement, a rare find! Gourmet kitchen with granite counter tops, open floorplan, fireplace in the great room, wood floors on the first floor, bonus room upstairs, a bar for entertaining in the basement. That's just the beginning. First floor bedroom and full bath. There are four bedrooms upstairs, the fourth bedroom could be used as a bonus room. All of the bathrooms have granite counter tops and tile floors. Luxury master bedroom with a sitting area. Huge family/game room in the basement. There is flex space in the basement that could be a 6th bedroom. A half bath is also in the basement. Loads of storage space. There is room for everyone in this home! The Brandon Oaks Community amenities include clubhouse, pool, tennis courts, walking trails, etc. Community located in close proximity to shops, grocery stores, restaurants. Minutes from 74 Bypass and 485. A Must See!

SEE MORE

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

Neighborhood: Brandon Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Brandon Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Sun Valley Elementary School Primary Regular 695 45 9
Sun Valley Middle School Middle Regular 1,365 69 6
Sun Valley High School High Regular 1,306 76 7

Sun Valley Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 45
9
GreatSchools Rating

Sun Valley Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 69
6
GreatSchools Rating

Sun Valley High School

  • Education Level: High
  • # of students: 1,306
  • # of teachers: 76
7
GreatSchools Rating
 

$395,100$482,900$439,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,620
Property Tax -$287
Property Insurance -$77
HOA -$41
Property Management Fees -$119
CASH FLOW
$76

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$439,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

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$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,085

INVESTMENT

$122,085

Down Payment
$109,750
Rehab Estimate
$5,750
Closing Costs
$6,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,620

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,750
Loan Amount $329,250
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$41,680

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,856

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9503$1,9754$1,9955$2,220
$2,220
RENT COMPS ANALYSIS
  • 4024 Garden Oak Drive Indian Trail, NC 5
    • 6 beds 4 baths ∙ 2,670 Sqft ∙ Built 2014 6 beds 4 baths ∙ 2,670 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.83
    •  
  • 6501 Afterglow Drive Indian Trail, NC 1
    • 5 beds 3 baths ∙ 2,689 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,689 Sqft ∙ Built 1999
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.69
    •  
  • 1001 Marcell Lane Indian Trail, NC 2
    • 5 beds 3 baths ∙ 2,660 Sqft ∙ Built 2008 5 beds 3 baths ∙ 2,660 Sqft ∙ Built 2008
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.73
    •  
  • 2007 Sipes Place Indian Trail, NC 3
    • 5 beds 3 baths ∙ 2,818 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,818 Sqft ∙ Built 2006
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.70
    •  
  • 3014 Brook Valley Run Monroe, NC 4
    • 6 beds 3 baths ∙ 3,006 Sqft ∙ Built 2003 6 beds 3 baths ∙ 3,006 Sqft ∙ Built 2003
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.66
    •  
PROPERTY LISTING DETAILS
Tammie Cartledge
1.704.361.0328
Keller Williams South Park
BESbswy