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4176 Guilford Court Nw Concord, NC 28027

4 Beds 3 Baths 2,141 sqft Built 1998

$296,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $138.25
  • 3 Days on Market
  • MLS # : 3700410
  • Updated Date : 02/06/2021 at 16:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,141 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

Beautiful, original owner, brick front home located on a cul-de-sac in the desirable Oak Park neighborhood in Concord. The two-story foyer welcomes you into this four bedroom, 2.5 bathroom home, which has been recently painted and offers new carpeting. Kitchen features granite countertops, stainless appliances, an island with seating and adjacent breakfast area. Family room with plentiful natural light and gas fireplace. Formal living and dining rooms allow the flexibility to be used as an office or playroom. Sunroom and deck overlook the tree-lined backyard and are perfect for relaxing or entertaining. Master bedroom has a tray ceiling and ensuite with dual vanities, separate soaking tub and shower and walk-in closet. Three additional bedrooms, a full bath and laundry room complete the upstairs. HVAC in 2017, tankless water heater and finished two-car garage with cabinets and work table. Community amenities include a clubhouse, pool and playground. Convenient to NC-73, I-485 and I-85.

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: 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
 

$266,400$325,600$296,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,028
Property Tax -$333
Property Insurance -$67
HOA -$33
Property Management Fees -$119
CASH FLOW
-$40

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.

$296,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,190

INVESTMENT

$84,190

Down Payment
$74,000
Rehab Estimate
$5,750
Closing Costs
$4,440

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,028

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,000
Loan Amount $222,000
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$13,754

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,622

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4393$1,4454$1,5255$1,540
$1,540
RENT COMPS ANALYSIS
  • 4176 Guilford Court Nw Concord, NC 5
    • 4 beds 3 baths ∙ 2,141 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,141 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.72
    •  
  • 1356 Sinai Place Concord, NC 1
    • 3 beds 3 baths ∙ 1,882 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,882 Sqft ∙ Built 2006
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.74
    •  
  • 1429 Rheo Court Nw Concord, NC 2
    • 3 beds 3 baths ∙ 1,804 Sqft ∙ Built 3 beds 3 baths ∙ 1,804 Sqft ∙ Built
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,439
    • $0.80
    •  
  • 1376 Zered Place Concord, NC 3
    • 4 beds 3 baths ∙ 2,037 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,037 Sqft ∙ Built 2006
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.71
    •  
  • 231 Christianna Court Concord, NC 4
    • 3 beds 2 baths ∙ 1,946 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,946 Sqft ∙ Built 2003
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.78
    •  
PROPERTY LISTING DETAILS
Pete Dorninger
1.704.928.6770
Redfin Corporation
BESbswy