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4118 Sawmill Trace Drive Charlotte, NC 28213

4 Beds 3 Baths 3,213 sqft Built 2005

$345,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $107.38
  • 3 Days on Market
  • MLS # : 3704944
  • Updated Date : 02/05/2021 at 15:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,213 sqft
  • Baths : 2 full , 1 half
Listing Agent

Charlotte And The Lake Real Estate, Inc

Listing Agent's Description

** Master on Main ** 4 Bedrooms plus spacious bonus room. Private Office (or formal living, playroom etc.) on first floor, second floor loft/office and kitchen computer nook make this house perfect for Work From Home. Large Family room has built ins & gas fireplace, and is open to kitchen. Kitchen includes bay window with breakfast area, tons of cabinets, corner pantry and breakfast bar. Large Formal Dining Room. Master bedroom has bay window sitting area. Master bath with double vanity, garden tub & separate shower. Second floor offers bonus room, 3 additional bedrooms and a hall bath with separate W/C & Shower. Large level rear yard backs up to woods. (Trampoline will be removed). Refrigerator, Washer & Dryer can be included with acceptable offer. Old Stone Crossing offers two clubhouse/pool areas, tennis, fitness room and playground. Convenient to I-485, University area, Concord Mills and the Speedway.

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

Neighborhood: Back Creek Church Road

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Back Creek Church Road

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
University Meadows Elementary School Primary Regular 657 45 4
James Martin Middle School Middle Regular 1,113 54 3
Vance High School High Regular 1,714 91 3

University Meadows Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 45
4
GreatSchools Rating

James Martin Middle School

  • Education Level: Middle
  • # of students: 1,113
  • # of teachers: 54
3
GreatSchools Rating

Vance High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 91
3
GreatSchools Rating
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,198
Property Tax -$301
Property Insurance -$88
HOA -$38
Property Management Fees -$119
CASH FLOW
$106

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.

$345,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.54%

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

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$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$30,141

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.58

    LIST RENT PER SQFT
  • $1,944

    COMP ESTIMATED VALUE
  • $0.61

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7753$1,8504$1,9795$1,995
$1,995
RENT COMPS ANALYSIS
  • 4118 Sawmill Trace Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 3,213 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,213 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.58
    •  
  • 10842 Glenluce Avenue Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,964 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,964 Sqft ∙ Built 2006
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.57
    •  
  • 9911 Jeanette Circle Charlotte, NC 2
    • 4 beds 3 baths ∙ 3,127 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,127 Sqft ∙ Built 2004
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.57
    •  
  • 2316 Godsey Wood Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,919 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,919 Sqft ∙ Built 2003
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,979
    • $0.68
    •  
  • 3014 Oconee Lane Charlotte, NC 5
    • 5 beds 3 baths ∙ 3,310 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,310 Sqft ∙ Built 2002
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.60
    •  
PROPERTY LISTING DETAILS
Louise Norton
1.704.408.0733
Charlotte And The Lake Real Estate, Inc
BESbswy