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4307 Rocky River Road Indian Trail, NC 28079

3 Beds 2 Baths 1,970 sqft Built 1950

$349,900

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $177.61
  • 6 Days on Market
  • MLS # : 3698078
  • Updated Date : 01/14/2021 at 10:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,970 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Beautifully Remodeled Country Home located on 3.17 acres; features Open Floor Plan with quartz counter tops and island. Lots of updates throughout to include new roof, new HVAC system w/new duct work, new windows, new stove/oven, new refrigerator & new dishwasher. Huge Master Suite w/walk-in closet. Enjoy sitting in out on the back porch while you watch the seasons change. 2 car detached garage & spacious yard perfect for a garden, chicken coops, pool, and entertainment and so much more!

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

Zip Code: 28079

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Zip Code: 28079

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Poplin Elementary School Primary Regular 719 40 7
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Poplin Elementary School

  • Education Level: Primary
  • # of students: 719
  • # of teachers: 40
7
GreatSchools Rating

Porter Ridge Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 72
7
GreatSchools Rating

Porter Ridge High School

  • Education Level: High
  • # of students: 1,591
  • # of teachers: 77
7
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,215
Property Tax -$229
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
-$57

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.

$349,900

PROJECTED PRICE

$1,570

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.3%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$17,732

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,645

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5703$1,7004$1,7495$1,750
$1,750
RENT COMPS ANALYSIS
  • 4307 Rocky River Road Indian Trail, NC 2
    • 3 beds 2 baths ∙ 1,970 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,970 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.80
    •  
  • 4462 Roundwood Court Indian Trail, NC 1
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2012
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.83
    •  
  • 4432 Roundwood Court Indian Trail, NC 3
    • 4 beds 3 baths ∙ 1,979 Sqft ∙ Built 2011 4 beds 3 baths ∙ 1,979 Sqft ∙ Built 2011
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.86
    •  
  • 2007 Trigger Drive Indian Trail, NC 4
    • 3 beds 3 baths ∙ 2,145 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,145 Sqft ∙ Built 2006
    LEASED 08/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $0.82
    •  
  • 5104 Alysheba Drive Indian Trail, NC 5
    • 3 beds 3 baths ∙ 2,109 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,109 Sqft ∙ Built 2002
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.83
    •  
PROPERTY LISTING DETAILS
Lindsey Sandoval
1.888.584.9431
Exp Realty Llc
BESbswy