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414 Nixon Road Belmont, NC 28012

3 Beds 3 Baths 1,831 sqft Built 2021

$323,970

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $176.94
  • 4 Days on Market
  • MLS # : 3714118
  • Updated Date : 03/05/2021 at 16:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,831 sqft
  • Baths : 2 full , 1 half
Listing Agent

Meritage Homes Of The Carolina

Listing Agent's Description

Brand NEW Energy-Efficient home ready June 2021! The Oxford II primary suite boasts a walk-in closet and dual sinks. Downstairs features an open-concept kitchen and great room. Amberley is ideally situated in the heart of Belmont where you can enjoy the outdoors with kayaking along the South Fork Catawba River or a variety of shopping and dining options on Main Street in nearby downtown. Highly-rated Gaston County schools. Known for their energy efficient features, our homes help you live a healthier and quieter lifestyle, while saving you thousands of dollars on utility bills.

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

Zip Code: 28012

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210kPrice in $113k213k

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

Zip Code: 28012

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350Rent in $8421396

* 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
Belmont Central Elementary School Primary Regular 678 35 7
Belmont Middle School Middle Regular 726 39 6
South Point High School High Regular 1,101 61 6

Belmont Central Elementary School

  • Education Level: Primary
  • # of students: 678
  • # of teachers: 35
7
GreatSchools Rating

Belmont Middle School

  • Education Level: Middle
  • # of students: 726
  • # of teachers: 39
6
GreatSchools Rating

South Point High School

  • Education Level: High
  • # of students: 1,101
  • # of teachers: 61
6
GreatSchools Rating
 

$291,573$356,367$323,970

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,125
Property Tax -$231
Property Insurance -$62
HOA -$62
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 10% of earned rent to cover both maintenance and periods of vacancy.

$323,970

PROJECTED PRICE

$1,810

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 3.00%
Vacancy 6.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

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$87,852

INVESTMENT

$87,852

Down Payment
$80,993
Rehab Estimate
$2,000
Closing Costs
$4,860

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,993
Loan Amount $242,978
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$40,788

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,813

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8103$1,8454$1,8955$1,895
$1,895
RENT COMPS ANALYSIS
  • 414 Nixon Road Belmont, NC 2
    • 3 beds 3 baths ∙ 1,831 Sqft ∙ Built 2021 3 beds 3 baths ∙ 1,831 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.99
    •  
  • 711 South Point Road Belmont, NC 1
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1973
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.92
    •  
  • 2730 Shannon Drive Belmont, NC 3
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2005
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.97
    •  
  • 1006 Amberley Crossing Drive Belmont, NC 4
    • 3 beds 3 baths ∙ 1,863 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,863 Sqft ∙ Built 2020
    LEASED 01/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.02
    •  
  • 1004 Amberley Crossing Drive Belmont, NC 5
    • 3 beds 3 baths ∙ 1,864 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,864 Sqft ∙ Built 2020
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.02
    •  
PROPERTY LISTING DETAILS
Jimmy Mcclurg
1.704.969.0153
Meritage Homes Of The Carolina
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3714118
Last Updated: 03/05/2021
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