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444 Trillium Way Belmont, NC 28012

3 Beds 2 Baths 1,949 sqft Built 2017

$346,500

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $177.78
  • 3 Days on Market
  • MLS # : 3700973
  • Updated Date : 01/29/2021 at 22:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,949 sqft
  • Baths : 2 full
Listing Agent

Real Living Carolinas Real Estate

Listing Agent's Description

This gorgeous Craftsman style home w/stone accents has served the Seller well and has been meticulously prepared for its new Owner. Just under 2000 sf of comfortable living space! The kitchen features contemporary finishes to appeal to today's modern preferences;42” linen cabinets, granite countertops & SS appliances w/ gas range. Hardwood flooring in Foyer, Kitchen, Breakfast, and Family room. An open floor plan with dramatic 11ft ceilings in the Family Room, Kitchen, and Breakfast area. The Family Room features a gas fireplace with a granite surround. The Owners suite has trey ceilings with a walk-in closet and attached bathroom with dual-vanity sinks, upgraded 4ft ceramic tile shower and seat. On the upper level, you will find a spacious Bonus Room and an unfinished storage area that may be finished. Lawn maintenance, including changing the pine straw, trimming and edging as well as cutting the front and back yard is included in HOA fee, along with pool and clubhouse access.

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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: 28012

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210kPrice in $113k213k

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

Zip Code: 28012

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350Rent in $8421396

* 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
New Hope Elementary School Primary Regular 542 27 7
Cramerton Middle School Middle Regular 833 42 8
South Point High School High Regular 1,101 61 6

New Hope Elementary School

  • Education Level: Primary
  • # of students: 542
  • # of teachers: 27
7
GreatSchools Rating

Cramerton Middle School

  • Education Level: Middle
  • # of students: 833
  • # of teachers: 42
8
GreatSchools Rating

South Point High School

  • Education Level: High
  • # of students: 1,101
  • # of teachers: 61
6
GreatSchools Rating
 

$311,850$381,150$346,500

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,204
Property Tax -$260
Property Insurance -$64
HOA -$175
Property Management Fees -$119
CASH FLOW
$159

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$346,500

PROJECTED PRICE

$1,980

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
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

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$97,573

INVESTMENT

$97,573

Down Payment
$86,625
Rehab Estimate
$5,750
Closing Costs
$5,198

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,204

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,625
Loan Amount $259,875
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$30,093

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,144

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,980
1$1,9802$2,300
$2,300
RENT COMPS ANALYSIS
  • 444 Trillium Way Belmont, NC 1
    • 3 beds 2 baths ∙ 1,949 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,949 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $1.02
    •  
  • 133 Barberry Drive Belmont, NC 2
    • 3 beds 2 baths ∙ 2,096 Sqft ∙ Built 2019 3 beds 2 baths ∙ 2,096 Sqft ∙ Built 2019
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.10
    •  
PROPERTY LISTING DETAILS
Teresa Mutakabbir
1.704.564.4940
Real Living Carolinas Real Estate
BESbswy