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4129 John Dale Lane Charlotte, NC 28269

4 Beds 3 Baths 2,231 sqft Built 2018

$280,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $125.50
  • 5 Days on Market
  • MLS # : 3695908
  • Updated Date : 01/08/2021 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,231 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mv Realty Of North Carolina Llc

Listing Agent's Description

This is a beautiful spacious home with lots of great features perfect for a first time home buyer. This home has 4 bedroom, 2.5 baths, dinning room, living room, breakfast nook, gas fire place, with spacious bedrooms. A very spacious master bedroom w/walk-in closet. Bedrooms are all located upstairs. Home is located on a corner lot and close to North Lake mall and Hwy 77. The University area is only minutes away with great shopping.

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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: Nevin Community

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Nevin Community

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771518

* 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
Winding Springs Elementary School Primary Regular 859 60 3
James Martin Middle School Middle Regular 1,113 54 3
North Mecklenburg High School High Regular 1,881 101 3

Winding Springs Elementary School

  • Education Level: Primary
  • # of students: 859
  • # of teachers: 60
3
GreatSchools Rating

James Martin Middle School

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

North Mecklenburg High School

  • Education Level: High
  • # of students: 1,881
  • # of teachers: 101
3
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$973
Property Tax -$244
Property Insurance -$69
HOA -$29
Property Management Fees -$119
CASH FLOW
$246

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.

$280,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.3%
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$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$38,344

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,601

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,5503$1,6754$1,6755$1,680
$1,680
RENT COMPS ANALYSIS
  • 4129 John Dale Lane Charlotte, NC 5
    • 3 beds 3 baths ∙ 2,231 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,231 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.75
    •  
  • 4539 Christenbury Hills Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,072 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,072 Sqft ∙ Built 2005
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.71
    •  
  • 5135 Tomsie Efird Lane Charlotte, NC 2
    • 4 beds 2 baths ∙ 2,158 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,158 Sqft ∙ Built 2012
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.72
    •  
  • 6620 Nathan Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 2018
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.71
    •  
  • 6628 Nathan Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,295 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,295 Sqft ∙ Built 2017
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.73
    •  
PROPERTY LISTING DETAILS
Michelle Stafford
1.704.756.3113
Mv Realty Of North Carolina Llc
BESbswy