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4056 River Falls Drive Lowell, NC 28098

4 Beds 4 Baths 1,880 sqft Built 2002

$315,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $167.55
  • 2 Days on Market
  • MLS # : 3720468
  • Updated Date : 03/20/2021 at 18:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,880 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Mooresville

Listing Agent's Description

Hard to find two-story home located on a quiet cul-de-sac featuring a fully finished walk-out basement with extra living quarters! Grand two-story entry way, new LVT flooring in the spacious kitchen with center island and eat-in breakfast area. Living room with gas fireplace opens to the dining room that leads to a screened-in porch for enjoying the lazy days of summer and perfect for outdoor entertaining! Enjoy the tranquil river views while relaxing in your hot tub located on the upper level deck. The walk-out basement offers additional living space for a large family or a great private retreat for guests! New LVP flooring, bedroom, full bath, full kitchen w/island, bar area, living room w/fireplace, and direct access to the lower level screened in porch. Minutes away from George Poston Park & Trails, convenient to CLT, the interstate, with shopping and dining nearby. Adjacent lot available to purchase. This is truly a rare find and a home to fit your lifestyle!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 28098

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k213k

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

Zip Code: 28098

ZipNIR Market*CityMarket2010Year20002019 Q270075080085090095010001050110011501200125013001350Rent in $6681375

* 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
Lowell Elementary School Primary Regular 537 31 4
Holbrook Middle School Middle Regular 731 40 6
Ashbrook High School High Regular 1,436 89 4

Lowell Elementary School

  • Education Level: Primary
  • # of students: 537
  • # of teachers: 31
4
GreatSchools Rating

Holbrook Middle School

  • Education Level: Middle
  • # of students: 731
  • # of teachers: 40
6
GreatSchools Rating

Ashbrook High School

  • Education Level: High
  • # of students: 1,436
  • # of teachers: 89
4
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,094
Property Tax -$254
Property Insurance -$63
HOA -$12
Property Management Fees -$119
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.

$315,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.0%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$26,719

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,589

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,345
1$1,3452$1,5253$1,5504$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 4056 River Falls Drive Lowell, NC 4
    • 4 beds 4 baths ∙ 1,880 Sqft ∙ Built 2002 4 beds 4 baths ∙ 1,880 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 545 River View Drive Lowell, NC 1
    • 4 beds 3 baths ∙ 1,716 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,716 Sqft ∙ Built 2005
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.78
    •  
  • 1029 Kings Mountain Lane Gastonia, NC 2
    • 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 2005
    LEASED 03/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.88
    •  
  • 704 Overlook Road Lowell, NC 3
    • 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2007
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
  • 918 River Trail Road Lowell, NC 5
    • 3 beds 3 baths ∙ 1,890 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,890 Sqft ∙ Built 2006
    LEASED 02/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.90
    •  
PROPERTY LISTING DETAILS
Nancy Field
1.704.241.6499
Keller Williams Mooresville
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3720468
Last Updated: 03/20/2021
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