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4137 Cedar Point Avenue Stallings, NC 28104

3 Beds 3 Baths 2,182 sqft Built 2005

$380,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $174.15
  • -1 Days on Market
  • MLS # : CAR3754280
  • Updated Date : 07/12/2021 at 16:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,182 sqft
  • Baths : 2 full , 1 half
Listing Agent

Paxton Properties

Listing Agent's Description

Your buyer will love this Charleston style home in popular Chestnut Oaks with double porches facing east to watch beautiful Carolina sunrises. Nine foot ceilings throughout, arched entry from kitchen and dining room to large family room with gas fireplace. Luxury MBR on the main with trey ceiling, private bath and walk in closet. Fabulous kitchen has 2 pantries, Bosch DW, Formal dining has octagonal tray ceiling. Upper level -2 bedrooms with big closets, and a large bonus room. Surround sound with Klipsch speakers and Yamaha subwoofer can convey with acceptable offer. No lack of storage with two spacious floored attic areas. Attached 2 car garage w/remotes. Corner lot with maple and weeping willow showcases the tall, grey home with black gutters and shutters. AC, water heater, and dishwasher all replaced within past 5 years. Community pool, walking trails, playground and sports courts to keep family entertained. Great schools, low taxes, and convenient to major transportation arteries.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Chestnut Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $118k338k

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

Neighborhood: Chestnut Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8441905

* 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
Indian Trail Elementary School Primary Regular 682 41 9
Sun Valley Middle School Middle Regular 1,365 69 6
Sun Valley High School High Regular 1,306 76 7

Indian Trail Elementary School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 41
9
GreatSchools Rating

Sun Valley Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 69
6
GreatSchools Rating

Sun Valley High School

  • Education Level: High
  • # of students: 1,306
  • # of teachers: 76
7
GreatSchools Rating
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,320
Property Tax -$254
Property Insurance -$68
HOA -$48
Property Management Fees -$119
CASH FLOW
$211

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.

$380,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 8.9%
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$1.4M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$44,143

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,986

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$2,0003$2,0204$2,1505$2,150
$2,150
RENT COMPS ANALYSIS
  • 4137 Cedar Point Avenue Stallings, NC 3
    • 3 beds 3 baths ∙ 2,182 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,182 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.93
    •  
  • 1309 Hammond Drive Matthews, NC 1
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2004
    LEASED 03/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.90
    •  
  • 5132 Craftsman Ridge Drive Stallings, NC 2
    • 4 beds 3 baths ∙ 2,289 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,289 Sqft ∙ Built 2006
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.87
    •  
  • 4125 Cedar Point Avenue Matthews, NC 4
    • 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 2005
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.94
    •  
  • 1116 Sarandon Drive Matthews, NC 5
    • 3 beds 2 baths ∙ 2,300 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,300 Sqft ∙ Built 2004
    LEASED 05/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.93
    •  
PROPERTY LISTING DETAILS
Lynda Paxton
1.704.882.1083
Paxton Properties
BESbswy