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4449 Sw Artdale Road Concord, NC 28027

3 Beds 2 Baths 2,171 sqft Built 1975

$335,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $154.31
  • 6 Days on Market
  • MLS # : 3711401
  • Updated Date : 02/26/2021 at 20:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,171 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

** Multiple offers received, sellers will review all offers tomorrow at 6pm** Totally updated brick ranch on spacious 1.04 acre lot! Conveniently located near Concord Mills, Lowes Motor Speedway, and easy commute to Charlotte. Enjoy the see through wood burning fireplace from the kitchen, living room, and dining room! There are 3 bedrooms, 2 full baths, living room, dining room, an office, and the fabulous great room/bonus room that is large enough to host all your friends and family. The 2 car garage is large enough for 3 cars with over 1000 sq. feet of space! Begin and end your day in the beautiful sunroom or on the newly painted deck. ***Click on the Virtual Tour Link to see 3D Walkthrough and Aerial Video***

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Shenandoah

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Shenandoah

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8401809

* 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
Pitts School Road Elementary School Primary Regular 809 49 5
Harold Winkler Middle School Middle Regular 978 60 6
Jay M Robinson High School High Regular 1,339 86 3

Pitts School Road Elementary School

  • Education Level: Primary
  • # of students: 809
  • # of teachers: 49
5
GreatSchools Rating

Harold Winkler Middle School

  • Education Level: Middle
  • # of students: 978
  • # of teachers: 60
6
GreatSchools Rating

Jay M Robinson High School

  • Education Level: High
  • # of students: 1,339
  • # of teachers: 86
3
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,164
Property Tax -$367
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$117

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.

$335,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.3%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$10,856

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,655

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,345
1$1,3452$1,5253$1,6004$1,6955$1,845
$1,845
RENT COMPS ANALYSIS
  • 4449 Sw Artdale Road Concord, NC 3
    • 3 beds 2 baths ∙ 2,171 Sqft ∙ Built 1975 3 beds 2 baths ∙ 2,171 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.74
    •  
  • 4251 Barley Street Concord, NC 1
    • 4 beds 3 baths ∙ 1,849 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,849 Sqft ∙ Built 1999
    LEASED 01/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.73
    •  
  • 318 Pulaski Drive Sw Concord, NC 2
    • 3 beds 3 baths ∙ 1,960 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,960 Sqft ∙ Built 2013
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.78
    •  
  • 807 Treva Anne Drive Concord, NC 4
    • 4 beds 3 baths ∙ 2,134 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,134 Sqft ∙ Built 2005
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.79
    •  
  • 5359 Roberta Crossing Concord, NC 5
    • 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 2017
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.75
    •  
PROPERTY LISTING DETAILS
Regina Vance
1.704.361.2292
Coldwell Banker Realty
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3711401
Last Updated: 02/26/2021
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