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4039 Ancestry Circle Weddington, NC 28104

4 Beds 3 Baths 3,087 sqft Built 1999

$485,000

List Price

$2,470

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 08, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $157.11
  • 1 Days on Market
  • MLS # : 3676651
  • Updated Date : 11/08/2020 at 00:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,087 sqft
  • Baths : 2 full , 1 half
Listing Agent

Wilkinson Era Real Estate

Listing Agent's Description

Two story custom brick home on 1 acre lot in the heart of Weddington in sought after neighborhood. Top rated schools, easy access to 485 & shopping. Private backyard with large covered porch, Newly stained and painted. New paint in most of interior, New hot water heater, Newer roof, upstairs HVAC Newer. Open floorpan with 2 story living area, features a sunroom or home office with 2 walls of windows facing backyard, butlers pantry, solid wood maple cabinets, new granite countertops, new glass tiled backsplash, stainless steel appliances, new stove and cooktop. Neighborhood features sidewalks & streetlights.

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: 28104

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $118k627k

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

Zip Code: 28104

ZipNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400260028003000Rent in $8443081

* 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
Antioch Elementary School Primary Regular 744 42 9
Weddington Middle School Middle Regular 997 55 10
Weddington High School High Regular 1,342 69 9

Antioch Elementary School

  • Education Level: Primary
  • # of students: 744
  • # of teachers: 42
9
GreatSchools Rating

Weddington Middle School

  • Education Level: Middle
  • # of students: 997
  • # of teachers: 55
10
GreatSchools Rating

Weddington High School

  • Education Level: High
  • # of students: 1,342
  • # of teachers: 69
9
GreatSchools Rating
 

$436,500$533,500$485,000

PURCHASE PRICE

$2,223$2,717$2,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,470
EXPENSES Loan Payment -$1,789
Property Tax -$249
Property Insurance -$85
HOA -$17
Property Management Fees -$222
CASH FLOW
$108

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.

$485,000

PROJECTED PRICE

$2,470

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.2%
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$1.6M

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$42,762

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,470

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,717

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,470
1$2,4702$2,5003$2,5954$2,685
$2,685
RENT COMPS ANALYSIS
  • 4039 Ancestry Circle Weddington, NC 1
    • 4 beds 3 baths ∙ 3,087 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,087 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,470
    • $0.80
    •  
  • 5013 Laurel Grove Lane Matthews, NC 2
    • 5 beds 4 baths ∙ 2,882 Sqft ∙ Built 1996 5 beds 4 baths ∙ 2,882 Sqft ∙ Built 1996
    property image
    LEASED 06/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.87
    •  
  • 3552 Weddington Oaks Drive Matthews, NC 3
    • 4 beds 3 baths ∙ 3,200 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,200 Sqft ∙ Built 1999
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.81
    •  
  • 814 Evans Manor Drive Weddington, NC 4
    • 4 beds 3 baths ∙ 2,804 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,804 Sqft ∙ Built 1999
    property image
    LEASED 07/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,685
    • $0.96
    •  
PROPERTY LISTING DETAILS
Gina Hudson
1.704.578.3224
Wilkinson Era Real Estate
BESbswy