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4173 Bristol Place Concord, NC 28027

4 Beds 3 Baths 2,672 sqft Built 1996

INVESTimate

$320,000

List Price

$1,770

$1,593 - $1,947

Rent Est.

$341,088  ( +6.59%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $119.76
  • 7 Days on Market
  • MLS # : 3653395
  • Updated Date : 08/20/2020 at 15:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,672 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams South Park

Listing Agent's Description

Beautifully renovated home in desirable Oak Park! Pull up to the xtended driveway w/plenty of parking for friends & family. You will enter into bright, welcoming foyer that leads into a light filled formal living room. Continue through to the dinning room currently being used as a home office. Next you will come to the tastefully updated kitchen- granite countertops, new cabinetry, SS appliances & tile backsplash. Lrge island for meal prep & an abundance of cabinet space for storage. Family room features vaulted ceiling & gas fireplace for cozy winter nights. The same updated flooring throughout the main flooring creates a wonderful flow. Upstairs you will find a spacious master bedroom with a great en-suite. Double vanity, separate shower w/lrge garden tub & his and hers walk-in closet. 2 more bedrooms w/full bathroom & bed/bonus complete the upstairs. Fully fenced wooded backyard w/deck & extended concrete patio. All new windows installed 2019 and new tankless water heater in 2020.

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: Oak Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Oak Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8401809

* 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
Charles E. Boger Elementary School Primary Regular 803 49 4
Northwest Cabarrus Middle School Middle Regular 905 58 4
Northwest Cabarrus High School High Regular 1,198 72 3

Charles E. Boger Elementary School

  • Education Level: Primary
  • # of students: 803
  • # of teachers: 49
4
GreatSchools Rating

Northwest Cabarrus Middle School

  • Education Level: Middle
  • # of students: 905
  • # of teachers: 58
4
GreatSchools Rating

Northwest Cabarrus High School

  • Education Level: High
  • # of students: 1,198
  • # of teachers: 72
3
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,181
Property Tax -$338
Property Insurance -$77
HOA -$33
Property Management Fees -$159
CASH FLOW
-$18

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.

$320,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.59%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$15,789

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,890

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7703$1,8004$1,8505$1,950
$1,950
RENT COMPS ANALYSIS
  • 4173 Bristol Place Concord, NC 2
    • 4 beds 3 baths ∙ 2,672 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,672 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.66
    •  
  • 4094 Deerfield Drive Concord, NC 1
    • 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 1998
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.65
    •  
  • 553 Hamberton Court Concord, NC 3
    • 3 beds 3 baths ∙ 2,512 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,512 Sqft ∙ Built 2003
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.72
    •  
  • 1220 Windsor Drive Kannapolis, NC 4
    • 4 beds 2 baths ∙ 2,635 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,635 Sqft ∙ Built 2018
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.70
    •  
  • 533 Montgrove Place Nw Concord, NC 5
    • 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 2006
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.72
    •  
PROPERTY LISTING DETAILS
Tara Ganesh
1.704.794.8979
Keller Williams South Park
BESbswy