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4101 Foxmoor Drive Charlotte, NC 28226

4 Beds 3 Baths 2,537 sqft Built 1982

INVESTimate

$365,000

List Price

$2,200

$1,980 - $2,420

Rent Est.

$385,440  ( +5.60%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1982
  • Price/Sqft : $143.87
  • 14 Days on Market
  • MLS # : 3650783
  • Updated Date : 08/22/2020 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,537 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allen Tate Southpark

Listing Agent's Description

Welcome home to this spacious two-story in between the beautiful tree-lined streets of Carmel Valley just minutes to Southpark, Ballantyne & right in the heart of South Charlotte. Excellent floor plan with the primary suite on the main & three spacious bedrooms up. Large family room with raised hearth fireplace with gas logs & french doors to back patio. Light airy kitchen with bay window breakfast area. Formal dining room & spacious living room with beautiful oversized boxed window. Laundry room off rear entrance with mud sink & built in cabinets. Clean as a whistle & just waiting for your personal touches. All the big ticket items have been taken care of - energy efficient vinyl windows throughout w/lifetime warranty 2017, Gas furnace & AC 2016, architectural shingled roof 2011. Tons of closets for storage, pull down attic, exterior storage closet & don't forget the wired workshop/shed!

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: Carmel

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $116k374k

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

Neighborhood: Carmel

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8442083

* 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
Beverly Woods Elementary School Primary Regular 758 40 8
Carmel Middle School Middle Regular 1,050 58 7
South Mecklenburg High School High Regular 2,913 147 7

Beverly Woods Elementary School

  • Education Level: Primary
  • # of students: 758
  • # of teachers: 40
8
GreatSchools Rating

Carmel Middle School

  • Education Level: Middle
  • # of students: 1,050
  • # of teachers: 58
7
GreatSchools Rating

South Mecklenburg High School

  • Education Level: High
  • # of students: 2,913
  • # of teachers: 147
7
GreatSchools Rating
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

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$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,347
Property Tax -$369
Property Insurance -$75
HOA -$5
Property Management Fees -$198
CASH FLOW
$206

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.

$365,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.60%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$42,347

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,391

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,2003$2,2504$2,3505$2,495
$2,495
RENT COMPS ANALYSIS
  • 4101 Foxmoor Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,537 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,537 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.87
    •  
  • 9104 Cameron Wood Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,279 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,279 Sqft ∙ Built 1991
    property image
    LEASED 03/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.86
    •  
  • 6918 Lenhart Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,363 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,363 Sqft ∙ Built 1998
    property image
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.95
    •  
  • 4833 Dawnridge Drive Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,640 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,640 Sqft ∙ Built 1986
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.89
    •  
  • 5733 Connor Boulevard Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 1978
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.05
    •  
PROPERTY LISTING DETAILS
Lance Mcswain
1.704.408.1343
Allen Tate Southpark
BESbswy