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4135 Tillman Road Charlotte, NC 28208

3 Beds 1 Baths 1,082 sqft Built 1956

$179,900

List Price

$1,020

$918 - $1.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $166.27
  • 7 Days on Market
  • MLS # : 3720973
  • Updated Date : 03/23/2021 at 10:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,082 sqft
  • Baths : 1 full
Listing Agent

Stikeleather Realty

Listing Agent's Description

3 bedroom, 1 bath with central air and gas heat. Large basement for storage or workshop.

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: Thomasboro - Hoskins

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $46k235k

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

Neighborhood: Thomasboro - Hoskins

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2600700800900100011001200130014001500Rent in $5351518

* 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
West Charlotte High School High Regular 1,777 109 3
West Charlotte High School High Unknown NA

West Charlotte High School

  • Education Level: High
  • # of students: 1,777
  • # of teachers: 109
3
GreatSchools Rating

West Charlotte High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$161,910$197,890$179,900

PURCHASE PRICE

$918$1,122$1,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,020
EXPENSES Loan Payment -$625
Property Tax -$157
Property Insurance -$48
Property Management Fees -$119
CASH FLOW
$72

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.

$179,900

PROJECTED PRICE

$1,020

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.4%
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$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,424

INVESTMENT

$53,424

Down Payment
$44,975
Rehab Estimate
$5,750
Closing Costs
$2,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$625

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $44,975
Loan Amount $134,925
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$16,050

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,020

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,077

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$945
1$9452$1,0003$1,0204$1,1955$1,300
$1,300
RENT COMPS ANALYSIS
  • 4135 Tillman Road Charlotte, NC 3
    • 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,082 Sqft ∙ Built 1956
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,020
    • $0.94
    •  
  • 3909 Barlowe Road Charlotte, NC 1
    • 3 beds 1 baths ∙ 1,060 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,060 Sqft ∙ Built 1953
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $945
    • $0.89
    •  
  • 4401 Birkdale Drive Charlotte, NC 2
    • 3 beds 2 baths ∙ 978 Sqft ∙ Built 1962 3 beds 2 baths ∙ 978 Sqft ∙ Built 1962
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $1.02
    •  
  • 125 Oregon Street Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,168 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,168 Sqft ∙ Built 2005
    property image
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.02
    •  
  • 641 Northway Drive Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,244 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,244 Sqft ∙ Built 2020
    property image
    LEASED 02/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.05
    •  
PROPERTY LISTING DETAILS
Richard Stikeleather
1.704.537.3900
Stikeleather Realty
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3720973
Last Updated: 03/23/2021
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