Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

4201 Broadstairs Drive Sw Concord, NC 28025

3 Beds 2 Baths 1,321 sqft Built 2012

$194,900

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $147.54
  • 3 Days on Market
  • MLS # : 3698338
  • Updated Date : 01/16/2021 at 19:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,321 sqft
  • Baths : 2 full
Listing Agent

Re/max Executive

Listing Agent's Description

Open Floor Plan, Large Great Room Open to very nice Kitchen Three Bedrooms, Two Full Baths nicely updated.

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: Ramsgate

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210kPrice in $108k216k

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

Neighborhood: Ramsgate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400Rent in $8401421

* 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
A T Allen Elementary School Primary Regular 925 59 5
C C Griffin Middle School Middle Regular 1,092 70 4
Central Cabarrus High School High Regular 1,416 88 4

A T Allen Elementary School

  • Education Level: Primary
  • # of students: 925
  • # of teachers: 59
5
GreatSchools Rating

C C Griffin Middle School

  • Education Level: Middle
  • # of students: 1,092
  • # of teachers: 70
4
GreatSchools Rating

Central Cabarrus High School

  • Education Level: High
  • # of students: 1,416
  • # of teachers: 88
4
GreatSchools Rating
 

$175,410$214,390$194,900

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$677
Property Tax -$232
Property Insurance -$52
HOA -$7
Property Management Fees -$119
CASH FLOW
$213

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$194,900

PROJECTED PRICE

$1,300

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,399

INVESTMENT

$57,399

Down Payment
$48,725
Rehab Estimate
$5,750
Closing Costs
$2,924

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$677

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,725
Loan Amount $146,175
See What Happens When You Reinvest Cash Flow

10.33

YEARS SAVED

$29,469

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,166

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,299
1$1,2992$1,3003$1,3454$1,3505$1,350
$1,350
RENT COMPS ANALYSIS
  • 4201 Broadstairs Drive Sw Concord, NC 2
    • 3 beds 2 baths ∙ 1,321 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,321 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.98
    •  
  • 947 Littleton Drive Concord, NC 1
    • 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 2006
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.85
    •  
  • 4474 Kellybrook Drive Concord, NC 3
    • 3 beds 3 baths ∙ 1,586 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,586 Sqft ∙ Built 2008
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.85
    •  
  • 1030 Piney Church Road Concord, NC 4
    • 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1999
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.91
    •  
  • 610 Winborne Avenue Sw Concord, NC 5
    • 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 2005
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.91
    •  
PROPERTY LISTING DETAILS
Brenda Cline
1.704.305.2716
Re/max Executive
BESbswy