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4300 Chelsea Way Gastonia, NC 28056

3 Beds 2 Baths 2,053 sqft Built 1997

$315,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $153.43
  • 4 Days on Market
  • MLS # : 3702878
  • Updated Date : 01/29/2021 at 11:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,053 sqft
  • Baths : 2 full
Listing Agent

The J Bouvier Real Estate Group Llc

Listing Agent's Description

Unique and Rare find in a natural setting of Chelsea Woods. This 3 bedroom, 2 bath with basement will not last long. Gorgeous kitchen with Italian granite counters and floors, center island with gas cook top and downdraft, plenty of cabinets and counter space. Master bedroom with large walk in closet, Master bath with Italian Marble, dual sinks, separate shower and garden tub. Two spacious secondary bedrooms, full bath, 2-story Great room, Living room with gas log fireplace, laundry on main level, beautiful wood floors throughout, Open floor plan, screened porch and deck. Basement is heated and being used as "Man Cave". 900 sqft storage and Kennel area. This is a MUST SEE!

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: 28056

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $81k213k

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

Zip Code: 28056

ZipNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400Rent in $6901460

* 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
W.a. Bess Elementary School Primary Regular 551 32 8
Cramerton Middle School Middle Regular 833 42 8
Forestview High School High Regular 1,143 63 7

W.a. Bess Elementary School

  • Education Level: Primary
  • # of students: 551
  • # of teachers: 32
8
GreatSchools Rating

Cramerton Middle School

  • Education Level: Middle
  • # of students: 833
  • # of teachers: 42
8
GreatSchools Rating

Forestview High School

  • Education Level: High
  • # of students: 1,143
  • # of teachers: 63
7
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,094
Property Tax -$261
Property Insurance -$66
HOA -$20
Property Management Fees -$119
CASH FLOW
$210

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.

$315,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 4.6%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$35,619

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
  • $0.86

    LIST RENT PER SQFT
  • $1,658

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,348
1$1,3482$1,5503$1,6504$1,7705$2,030
$2,030
RENT COMPS ANALYSIS
  • 4300 Chelsea Way Gastonia, NC 4
    • 3 beds 2 baths ∙ 2,053 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,053 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.86
    •  
  • 211 Valleydale Drive Gastonia, NC 1
    • 4 beds 2 baths ∙ 1,777 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,777 Sqft ∙ Built 1960
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,348
    • $0.76
    •  
  • 4586 Huntington Drive Gastonia, NC 2
    • 3 beds 3 baths ∙ 1,892 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,892 Sqft ∙ Built 1989
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
  • 3857 Streamside Drive Gastonia, NC 3
    • 4 beds 3 baths ∙ 2,002 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,002 Sqft ∙ Built 2017
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.82
    •  
  • 3419 Donnington Way Gastonia, NC 5
    • 4 beds 3 baths ∙ 2,220 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,220 Sqft ∙ Built 2014
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.91
    •  
PROPERTY LISTING DETAILS
Jennifer Bouvier
1.704.616.7725
The J Bouvier Real Estate Group Llc
BESbswy