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4029 Cyprus Court Indian Trail, NC 28079

3 Beds 3 Baths 1,912 sqft Built 1988

INVESTimate

$277,000

List Price

$1,450

$1,305 - $1,595

Rent Est.

$297,498  ( +7.40%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1988
  • Price/Sqft : $144.87
  • 19 Days on Market
  • MLS # : 3648993
  • Updated Date : 08/25/2020 at 06:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,912 sqft
  • Baths : 2 full , 1 half
Listing Agent

Terra Vista Realty

Listing Agent's Description

Gorgeous full-brick home on terrific lot. You won't want to miss this one! Hardwoods throughout - both upstairs and downstairs. Terrific floor plan with 3 bedrooms and 2.5 baths. 2-car garage. Outstanding rear porch with EZ Breeze screen system and adjacent deck. No HOA fees! House sits well back from the road on a beautiful lot with mature trees.

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: Country Woods East

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Country Woods East

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
Stallings Elementary School Primary Regular 576 32 9
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Stallings Elementary School

  • Education Level: Primary
  • # of students: 576
  • # of teachers: 32
9
GreatSchools Rating

Porter Ridge Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 72
7
GreatSchools Rating

Porter Ridge High School

  • Education Level: High
  • # of students: 1,591
  • # of teachers: 77
7
GreatSchools Rating
 

$249,300$304,700$277,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$1,022
Property Tax -$181
Property Insurance -$63
Property Management Fees -$131
CASH FLOW
$53

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.

$277,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.40%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,155

INVESTMENT

$79,155

Down Payment
$69,250
Rehab Estimate
$5,750
Closing Costs
$4,155

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,022

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,250
Loan Amount $207,750
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$22,210

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,530

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,4954$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 4029 Cyprus Court Indian Trail, NC 2
    • 3 beds 3 baths ∙ 1,912 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,912 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.76
    •  
  • 15700 Fairfield Drive Matthews, NC 1
    • 3 beds 3 baths ∙ 1,907 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,907 Sqft ∙ Built 1974
    property image
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.76
    •  
  • 7009 Paddle Wheel Lane Indian Trail, NC 3
    • 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 2005
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.75
    •  
  • 1252 Hawthorne Drive Indian Trail, NC 4
    • 3 beds 3 baths ∙ 1,875 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,875 Sqft ∙ Built 1993
    property image
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.85
    •  
  • 6708 Brookgreen Terrace Matthews, NC 5
    • 4 beds 2 baths ∙ 1,909 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,909 Sqft ∙ Built 1979
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.84
    •  
PROPERTY LISTING DETAILS
Tom Palmer
1.704.307.7475
Terra Vista Realty
BESbswy