Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

4136 Old Glory Drive Concord, NC 28025

3 Beds 2 Baths 1,073 sqft Built 1999

$202,900

List Price

$1,080

$972 - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $189.10
  • 4 Days on Market
  • MLS # : 3714977
  • Updated Date : 03/04/2021 at 20:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,073 sqft
  • Baths : 2 full
Listing Agent

Rucker Real Estate Inc

Listing Agent's Description

Cute 3 bedroom and 2 bath home that shows pride of ownership! Its' features include a open floor plan with cathedral ceilings in the living room and spacious kitchen great for entertaining. All appliances will remain. There is a detached 2 car garage with a private fenced in back yard that was installed 2020. You'll love the entertaining under the pergula that was installed in 2020. The water heater was replaced in 2017 and the master shower doors were installed in 2018. The master features a trey ceiling with a walk in closet. The other 2 bedrooms have ample closet space as well.

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: Colonial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210kPrice in $91k216k

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

Neighborhood: Colonial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350Rent in $7781375

* 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
Rocky River Elementary School Primary Regular 771 54 2
C C Griffin Middle School Middle Regular 1,092 70 4
Central Cabarrus High School High Regular 1,416 88 4

Rocky River Elementary School

  • Education Level: Primary
  • # of students: 771
  • # of teachers: 54
2
GreatSchools Rating

C C Griffin Middle School

  • Education Level: Middle
  • # of students: 1,092
  • # of teachers: 70
4
GreatSchools Rating

Central Cabarrus High School

  • Education Level: High
  • # of students: 1,416
  • # of teachers: 88
4
GreatSchools Rating
 

$182,610$223,190$202,900

PURCHASE PRICE

$972$1,188$1,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,080
EXPENSES Loan Payment -$705
Property Tax -$153
Property Insurance -$47
HOA -$11
Property Management Fees -$119
CASH FLOW
$45

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$202,900

PROJECTED PRICE

$1,080

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$59,519

INVESTMENT

$59,519

Down Payment
$50,725
Rehab Estimate
$5,750
Closing Costs
$3,044

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$705

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $50,725
Loan Amount $152,175
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$14,664

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,080

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $968

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,080
1$1,0802$1,0953$1,1004$1,2305$1,275
$1,275
RENT COMPS ANALYSIS
  • 4136 Old Glory Drive Concord, NC 1
    • 3 beds 2 baths ∙ 1,073 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,073 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,080
    • $1.01
    •  
  • 5107 Daffodil Lane Concord, NC 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1998
    LEASED 09/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.91
    •  
  • 1204 Abbey Lane Concord, NC 3
    • 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1971
    LEASED 09/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.86
    •  
  • 781 Sir Raleigh Drive Concord, NC 4
    • 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 2000
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $0.92
    •  
  • 947 Loch Lomond Circle Concord, NC 5
    • 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 2001
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.92
    •  
PROPERTY LISTING DETAILS
Arica Rucker
1.704.490.1894
Rucker Real Estate Inc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3714977
Last Updated: 03/04/2021
BESbswy