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4350 One Mile Way Charlotte, NC 28215

4 Beds 3 Baths 2,368 sqft Built 2021

$292,900

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $123.69
  • 3 Days on Market
  • MLS # : 3708334
  • Updated Date : 02/12/2021 at 17:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,368 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lgi Homes Nc Llc

Listing Agent's Description

This 4 bedroom has all the space you could want. Every bedroom includes a walk-in closet! The master suite also has a private bath with separate soaking tub and shower. Separate living and family rooms provide tons of opportunity for a homeowner to make the home fit their needs - whether that is a play room or a formal room. This home has over $10,000 work of upgrades such as new kitchen appliances included!

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: Silverwood

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230kPrice in $113k235k

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

Neighborhood: Silverwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8421518

* 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
Reedy Creek Elementary School Primary Regular 730 44 6
Northridge Middle School Middle Regular 779 43 3
Rocky River High School High Regular 1,710 90 3

Reedy Creek Elementary School

  • Education Level: Primary
  • # of students: 730
  • # of teachers: 44
6
GreatSchools Rating

Northridge Middle School

  • Education Level: Middle
  • # of students: 779
  • # of teachers: 43
3
GreatSchools Rating

Rocky River High School

  • Education Level: High
  • # of students: 1,710
  • # of teachers: 90
3
GreatSchools Rating
 

$263,610$322,190$292,900

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,017
Property Tax -$274
Property Insurance -$72
HOA -$25
Property Management Fees -$119
CASH FLOW
$363

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$292,900

PROJECTED PRICE

$1,870

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 3.00%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,619

INVESTMENT

$79,619

Down Payment
$73,225
Rehab Estimate
$2,000
Closing Costs
$4,394

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$1,017

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,225
Loan Amount $219,675
See What Happens When You Reinvest Cash Flow

11.67

YEARS SAVED

$55,143

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,859

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,8003$1,8204$1,8205$1,870
$1,870
RENT COMPS ANALYSIS
  • 4350 One Mile Way Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,368 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,368 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.79
    •  
  • 6329 Marquam Place Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,355 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,355 Sqft ∙ Built 2018
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.70
    •  
  • 1215 Culver Spring Way Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,368 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,368 Sqft ∙ Built 2020
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.76
    •  
  • 13021 Joclaire Court Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 4 beds 3 baths ∙ 2,180 Sqft ∙ Built
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.83
    •  
  • 13007 Joclaire Court Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 4 beds 3 baths ∙ 2,180 Sqft ∙ Built
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.83
    •  
PROPERTY LISTING DETAILS
Tyler Zulli
1.704.258.1888
Lgi Homes Nc Llc
BESbswy