Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

4037 Hereford Lane Dallas, NC 28034

3 Beds 2 Baths 1,390 sqft Built 2005

$225,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $161.87
  • 4 Days on Market
  • MLS # : 3709746
  • Updated Date : 02/19/2021 at 12:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,390 sqft
  • Baths : 2 full
Listing Agent

Allen Tate Gastonia

Listing Agent's Description

Wonderful ranch with fantastic layout! Great room is the heart of this home and the spot you will want to gather, it has access to the large level backyard w patio. This kitchen is dreamy with rich dark stained custom cabinets, all black appliances and room to sit and enjoy home cooked meals. After dinner you will be drawn to the screen porch where you can curl up with a good book and be in a peaceful relaxing setting. The master suite offer soaking tub and a shower as well as dual vanities and a walk in closet. Two car garage w room for storage. Secondary bedrooms are also good size. This one is ready for you to make it yours!

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

Zip Code: 28034

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k213k

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

Zip Code: 28034

ZipNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300Rent in $6411375

* 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
Costner Elementary School Primary Regular 583 32 5
W.c. Friday Middle School Middle Regular 687 38 4
North Gaston High School High Regular 1,095 60 3

Costner Elementary School

  • Education Level: Primary
  • # of students: 583
  • # of teachers: 32
5
GreatSchools Rating

W.c. Friday Middle School

  • Education Level: Middle
  • # of students: 687
  • # of teachers: 38
4
GreatSchools Rating

North Gaston High School

  • Education Level: High
  • # of students: 1,095
  • # of teachers: 60
3
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$782
Property Tax -$173
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$163

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.

$225,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 3.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$27,748

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,147

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,290
1$1,2902$1,3753$1,425
$1,425
RENT COMPS ANALYSIS
  • 4037 Hereford Lane Dallas, NC 1
    • 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.93
    •  
  • 2680 Mcintosh Street Dallas, NC 2
    • 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2020
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.81
    •  
  • 2665 Mcintosh Street Dallas, NC 3
    • 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2020
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.84
    •  
PROPERTY LISTING DETAILS
Cathy Young
1.704.860.5400
Allen Tate Gastonia
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3709746
Last Updated: 02/19/2021
BESbswy