Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 2002
- Price/Sqft : $148.72
- 2 Days on Market
- MLS # : 3706090
- Updated Date : 02/06/2021 at 14:46
CONSTRUCTION
- Beds : 3
- Floor Size : 1,560 sqft
- Baths : 2 full , 1 half
Listing Agent
Opendoor Brokerage Llc
Listing Agent's Description
This Charlotte two-story home offers quartz countertops. This home is vacant and cleaned regularly.
SEE MORE
- 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
Neighborhood: Rockwell Park - Hemphill Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Rockwell Park - Hemphill Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,230 |
| EXPENSES | Loan Payment | -$806 |
| Property Tax | -$202 | |
| Property Insurance | -$57 | |
| HOA | -$13 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$34
|
||
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.
$232,000
PROJECTED PRICE
$1,230
PROJECTED RENT
0.53%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.94% |
| Appreciation Year (1-5) | 7.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.02% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$67,230
LOAN DETAILS
$806
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $58,000 |
| Loan Amount | $174,000 |
5.92
YEARS SAVED
$15,301
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,230
LIST RENT -
$0.79
LIST RENT PER SQFT
-
$1,271
COMP ESTIMATED VALUE -
$0.82
COMP AVG. RENT PER SQFT
Comps Range
-
4426 Cochran Farm Lane Charlotte, NC 1
- 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 2002
![property image]()
- Rent
- Rent Per SQFT
- $1,230
- $0.79
-
8214 Braids Bend Court Charlotte, NC 2
- 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 2002
![property image]()
LEASED 03/23/20- Rent
- Rent Per SQFT
- $1,355
- $0.81
-
5207 Holbert Circle Charlotte, NC 3
- 4 beds 3 baths ∙ 1,712 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,712 Sqft ∙ Built 2002
![property image]()
LEASED 02/12/20- Rent
- Rent Per SQFT
- $1,375
- $0.80
-
6925 Brachnell View Drive Charlotte, NC 4
- 3 beds 3 baths ∙ 1,660 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,660 Sqft ∙ Built 2000
![property image]()
LEASED 10/30/20- Rent
- Rent Per SQFT
- $1,375
- $0.83
-
4005 Chandler Haven Drive Charlotte, NC 5
- 3 beds 3 baths ∙ 1,713 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,713 Sqft ∙ Built 2008
![property image]()
LEASED 05/19/20- Rent
- Rent Per SQFT
- $1,400
- $0.82
PROPERTY LISTING DETAILS
1.704.751.0133
Opendoor Brokerage Llc
