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4420 Tom Reid Road Concord, NC 28025

4 Beds 3 Baths 2,405 sqft Built 1980

$295,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $122.66
  • 12 Days on Market
  • MLS # : 3679233
  • Updated Date : 11/13/2020 at 00:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,405 sqft
  • Baths : 3 full
Listing Agent

Kj Realty Llc

Listing Agent's Description

Welcome home to your new beautiful and spacious 4 bedroom 3 bath home. This home is fantastic and move in ready no need to worry about anything! This .96 acre lot with NO HOA has all your wants and needs. With a kitchen open to the family room, a formal dining, large owner's suite, tile shower & walk in closet. This beauty of a home also features an upstairs loft, bedroom, and full bathroom. Close to everything but hidden away. It's spacious with cozy and intimate nooks. The Kitchen has and abundance of cabinets and granite counter space. This home has a perfect flow for entertaining the family but equally private and ready to catch a movie for 2 in the upstairs loft. Once you have finished entertaining unwind in the backyard deck watch the sunset just beyond the tree line. You are sure to love and enjoy the views in the evening in this home. Pictures coming soon! Seller is offering a $500 home warranty with full price offer. Make this your last stop in your home search.

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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: 28025

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k216k

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

Zip Code: 28025

ZipNIR Market*CityMarket2010Year20002019 Q270075080085090095010001050110011501200125013001350Rent in $6771375

* 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
A T Allen Elementary School Primary Regular 925 59 5
C C Griffin Middle School Middle Regular 1,092 70 4
Central Cabarrus High School High Regular 1,416 88 4

A T Allen Elementary School

  • Education Level: Primary
  • # of students: 925
  • # of teachers: 59
5
GreatSchools Rating

C C Griffin Middle School

  • Education Level: Middle
  • # of students: 1,092
  • # of teachers: 70
4
GreatSchools Rating

Central Cabarrus High School

  • Education Level: High
  • # of students: 1,416
  • # of teachers: 88
4
GreatSchools Rating
 

$265,500$324,500$295,000

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 -$1,088
Property Tax -$223
Property Insurance -$72
Property Management Fees -$141
CASH FLOW
$45

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.

$295,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

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$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$19,463

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
  • $0.65

    LIST RENT PER SQFT
  • $1,605

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5703$1,5954$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 4420 Tom Reid Road Concord, NC 2
    • 4 beds 3 baths ∙ 2,405 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,405 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.65
    •  
  • 1045 Gerry Court Concord, NC 1
    • 4 beds 3 baths ∙ 2,339 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,339 Sqft ∙ Built 2005
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.64
    •  
  • 3993 Potts Grove Place Concord, NC 3
    • 5 beds 3 baths ∙ 2,361 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,361 Sqft ∙ Built 2018
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.68
    •  
  • 4011 Bethesda Place Concord, NC 4
    • 5 beds 3 baths ∙ 2,361 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,361 Sqft ∙ Built 2018
    LEASED 04/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.68
    •  
  • 4254 Long Arrow Drive Concord, NC 5
    • 5 beds 3 baths ∙ 2,368 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,368 Sqft ∙ Built 2020
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.68
    •  
PROPERTY LISTING DETAILS
Karla Aguilar
1.704.726.8043
Kj Realty Llc
BESbswy