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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Oak Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$84,190
LOAN DETAILS
$1,028
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $74,000 |
| Loan Amount | $222,000 |
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
-
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
1.704.928.6770
Redfin Corporation
