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4309 Innisfree Court Indian Trail, NC 28079

4 Beds 3 Baths 2,498 sqft Built 2017

$359,900

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $144.08
  • 4 Days on Market
  • MLS # : 3712777
  • Updated Date : 03/05/2021 at 11:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,498 sqft
  • Baths : 3 full
Listing Agent

Velocity Properties Llc

Listing Agent's Description

** Multiple offers - highest and best by 3/7 @ 12 pm** Better than new! Beautiful 4 bedroom, 3 full bath, home on a premium cul-de-sac lot in desirable Glendalough! The main floor features an open floor plan with neutral colors, gas fireplace & luxury vinyl plank flooring throughout. The kitchen is great for entertaining and leads to a beautiful screened porch. The main floor also features a dining room, bedroom and a full bath. The second level has 3 bedrooms and 2 full bathrooms, luxury vinyl plank flooring in the hall and bonus room/loft, upgraded master bathroom fixtures, and a huge walk-in-closet. A large fully fenced backyard is perfect for family fun. This home has great storage with a large 3 car garage and floored attic space. See it today before it’s gone!

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: 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
Porter Ridge Elementary School Primary Regular 479 31 6
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Porter Ridge Elementary School

  • Education Level: Primary
  • # of students: 479
  • # of teachers: 31
6
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
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,250
Property Tax -$235
Property Insurance -$74
HOA -$55
Property Management Fees -$119
CASH FLOW
$47

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.

$359,900

PROJECTED PRICE

$1,780

PROJECTED RENT

0.49%

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$1.2M

PROJECTED ANNUAL CASH FLOW

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

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$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$26,464

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,936

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,780
1$1,7802$1,9003$1,9454$1,9455$1,945
$1,945
RENT COMPS ANALYSIS
  • 4309 Innisfree Court Indian Trail, NC 1
    • 4 beds 3 baths ∙ 2,498 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,498 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.71
    •  
  • 4006 Houndscroft Road Indian Trail, NC 2
    • 3 beds 3 baths ∙ 2,319 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,319 Sqft ∙ Built 2015
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.82
    •  
  • 4126 Waxwood Drive Monroe, NC 3
    • 5 beds 3 baths ∙ 2,650 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,650 Sqft ∙ Built 2007
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.73
    •  
  • 3003 Filly Drive Indian Trail, NC 4
    • 5 beds 4 baths ∙ 2,654 Sqft ∙ Built 2005 5 beds 4 baths ∙ 2,654 Sqft ∙ Built 2005
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.73
    •  
  • 4022 Singletree Lane Indian Trail, NC 5
    • 4 beds 3 baths ∙ 2,358 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,358 Sqft ∙ Built 2012
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.82
    •  
PROPERTY LISTING DETAILS
Lisa Collins
1.704.774.0169
Velocity Properties Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3712777
Last Updated: 03/05/2021
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