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4101 Balsam Street Indian Trail, NC 28079

4 Beds 3 Baths 1,806 sqft Built 1997

$284,500

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $157.53
  • 3 Days on Market
  • MLS # : 3720021
  • Updated Date : 03/20/2021 at 18:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,806 sqft
  • Baths : 2 full , 1 half
Listing Agent

Prostead Realty

Listing Agent's Description

SHOWINGS STOP AT NOON ON 3/22. Great home in desirable Lake Park! Lovely home w/4 bedrooms, 2 1/2 bathrooms and a gorgeous backyard! Wood laminate flooring throughout! Custom millwork on all the doors, window frames, etc. throughout the home. Updated countertops, some newer SS appliances. Tile floors in kitchen, foyer, & full baths. Master bedroom has custom built-in shelves, vaulted ceiling and large walk-in closet. Master bath has tiled walls in tub area, 2 shower heads, built-in dresser and 2 sinks. Beautiful, large, custom covered patio with fan and phenomenal gardens in backyard! Shed is attached to the garage with access from both yard and garage. Tankless Hot water heater in 2019! Great home, great community, great location & Union County schools! Come see for yourself!

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

Neighborhood: Lake Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Lake Park

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
Poplin Elementary School Primary Regular 719 40 7
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Poplin Elementary School

  • Education Level: Primary
  • # of students: 719
  • # of teachers: 40
7
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
 

$256,050$312,950$284,500

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$988
Property Tax -$186
Property Insurance -$61
HOA -$7
Property Management Fees -$119
CASH FLOW
$349

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.

$284,500

PROJECTED PRICE

$1,710

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.4%
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

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,143

INVESTMENT

$81,143

Down Payment
$71,125
Rehab Estimate
$5,750
Closing Costs
$4,268

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$988

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,125
Loan Amount $213,375
See What Happens When You Reinvest Cash Flow

12

YEARS SAVED

$53,079

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,693

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,7104$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 4101 Balsam Street Indian Trail, NC 3
    • 4 beds 3 baths ∙ 1,806 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,806 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.95
    •  
  • 4411 Sages Avenue Indian Trail, NC 1
    • 3 beds 3 baths ∙ 1,692 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,692 Sqft ∙ Built 2005
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.92
    •  
  • 3804 Faith Church Road Indian Trail, NC 2
    • 4 beds 3 baths ∙ 1,756 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,756 Sqft ∙ Built 1996
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.88
    •  
  • 6005 Amber Court Indian Trail, NC 4
    • 4 beds 3 baths ∙ 1,782 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,782 Sqft ∙ Built 1997
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.98
    •  
  • 3910 Faith Church Road Indian Trail, NC 5
    • 4 beds 3 baths ∙ 1,924 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,924 Sqft ∙ Built 1999
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.94
    •  
PROPERTY LISTING DETAILS
Wendy Richards
1.704.604.6115
Prostead Realty
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3720021
Last Updated: 03/20/2021
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