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4332 Chadwell Lane Charlotte, NC 28269

3 Beds 3 Baths 1,650 sqft Built 1988

$270,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $163.64
  • 7 Days on Market
  • MLS # : 3701207
  • Updated Date : 01/30/2021 at 16:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,650 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Terrific cul-de-sac lot home featuring 3 bedrooms and 2 1/2 baths. Hardwoods throughout most of the main level. HVAC replaced in 2019! Home features a formal dining room, open kitchen with breakfast area. Family room has built ins. Large deck off of the family room overlooks spacious yard and backs up to the Greenway.

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: Prosperity Church Road

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Prosperity Church Road

NeighborhoodNIR 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
Croft Community School Primary Regular 644 35 NA
Ridge Road Middle School Middle Regular 1,285 65 6
Mallard Creek High School High Regular 2,472 123 6

Croft Community School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 35
NA
GreatSchools Rating

Ridge Road Middle School

  • Education Level: Middle
  • # of students: 1,285
  • # of teachers: 65
6
GreatSchools Rating

Mallard Creek High School

  • Education Level: High
  • # of students: 2,472
  • # of teachers: 123
6
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$938
Property Tax -$235
Property Insurance -$58
HOA -$50
Property Management Fees -$119
CASH FLOW
$0

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.

$270,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.4%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

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$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$16,023

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,415

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,4003$1,5254$1,5755$1,600
$1,600
RENT COMPS ANALYSIS
  • 4332 Chadwell Lane Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.85
    •  
  • 4326 Hazlitt Court Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 1988
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.84
    •  
  • 5119 Eagle Creek Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 2003
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.85
    •  
  • 9823 Cooper Run Lane Charlotte, NC 4
    • 4 beds 2 baths ∙ 1,853 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,853 Sqft ∙ Built 1989
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.85
    •  
  • 3918 Canterbrook Drive Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1997
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
PROPERTY LISTING DETAILS
Brian Gibson
1.704.644.9890
Exp Realty Llc
BESbswy