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4024 Troon Drive Sw Concord, NC 28027

4 Beds 3 Baths 2,677 sqft Built 2003

$394,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $147.18
  • 17 Days on Market
  • MLS # : 3717415
  • Updated Date : 03/27/2021 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,677 sqft
  • Baths : 2 full , 1 half
Listing Agent

S&e Management Llc

Listing Agent's Description

Open the front door to your beautiful home! Great floor plan for entertaining with friends and family. If making memories is part of your new home plan, this is the perfect place for you! Located in the lovely sub-division of Morris Glen. This home has so much to offer! The floor plan flows perfectly with plenty of room for entertaining or work from home options. The house sits on a hill at the entrance of a quiet cut-de-sac. The fenced-in backyard is beautiful! Soak in the change of seasons at home and enjoy some some quiet time, fresh air or fun and games with family, friends, kids and/or pets. You won't be disappointed! Schedule a showing today.

SEE MORE

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: Morris Glen

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $118k333k

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

Neighborhood: Morris Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8401978

* 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
Pitts School Road Elementary School Primary Regular 809 49 5
Harold Winkler Middle School Middle Regular 978 60 6
Jay M Robinson High School High Regular 1,339 86 3

Pitts School Road Elementary School

  • Education Level: Primary
  • # of students: 809
  • # of teachers: 49
5
GreatSchools Rating

Harold Winkler Middle School

  • Education Level: Middle
  • # of students: 978
  • # of teachers: 60
6
GreatSchools Rating

Jay M Robinson High School

  • Education Level: High
  • # of students: 1,339
  • # of teachers: 86
3
GreatSchools Rating
 

$354,600$433,400$394,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,369
Property Tax -$447
Property Insurance -$78
HOA -$47
Property Management Fees -$119
CASH FLOW
-$98

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.

$394,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 3.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,160

INVESTMENT

$110,160

Down Payment
$98,500
Rehab Estimate
$5,750
Closing Costs
$5,910

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,369

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,500
Loan Amount $295,500
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$14,749

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,981

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,825
1$1,8252$1,8453$1,8754$1,9605$2,095
$2,095
RENT COMPS ANALYSIS
  • 4024 Troon Drive Sw Concord, NC 4
    • 4 beds 3 baths ∙ 2,677 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,677 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.73
    •  
  • 5326 Roberta Crossing Concord, NC 1
    • 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 2017
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.74
    •  
  • 5359 Roberta Crossing Concord, NC 2
    • 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 2017
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.75
    •  
  • 5399 Roberta Road Concord, NC 3
    • 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 2017
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.70
    •  
  • 311 Pulaski Drive Concord, NC 5
    • 5 beds 4 baths ∙ 2,834 Sqft ∙ Built 2011 5 beds 4 baths ∙ 2,834 Sqft ∙ Built 2011
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.74
    •  
PROPERTY LISTING DETAILS
Gabrielle Ebanietti
1.704.699.8460
S&e Management Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3717415
Last Updated: 03/27/2021
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