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4471 Saint Catherines Court Concord, NC 28025

4 Beds 3 Baths 2,622 sqft Built 2005

$250,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $95.35
  • 2 Days on Market
  • MLS # : 3680396
  • Updated Date : 11/07/2020 at 14:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,622 sqft
  • Baths : 2 full , 1 half
Listing Agent

Premier South

Listing Agent's Description

LOCATION, This spacious home is in the most coveted part of the greater Charlotte area, Concord. With 4 bedrooms, 2 1/2 baths, and plenty of additional space, you will have room for everyone in your family, plus…. additional office/flex room and a family area at the top of the stairs. The first floor of the home is all living area; there is ample space for everyone without crowding anyone. There is space for separate dining room, living room and kitchen yet the layout allows for the cozy feeling of a family home. The additional office/flex room downstairs can also be used guest space or an additional bedroom. At the top of the stairs, you will find an additional family space for when the space is needed. The spacious master having its own master bathroom covers the back half of the house, while still having enough space for 3 additional bdrms, utility room, and the additional bathroom. With so much space, this house will be gone quickly. Showings start Sunday 11/8/20

SEE MORE

MARKET HIGHLIGHTS

  • 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: Brandon Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210kPrice in $113k216k

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

Neighborhood: Brandon Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400Rent in $8401412

* 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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$922
Property Tax -$264
Property Insurance -$77
HOA -$19
Property Management Fees -$151
CASH FLOW
$247

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.

$250,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.9%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$36,308

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,757

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5953$1,5954$1,6005$1,680
$1,680
RENT COMPS ANALYSIS
  • 4471 Saint Catherines Court Concord, NC 5
    • 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.64
    •  
  • 611 Bright Orchid Avenue Concord, NC 1
    • 5 beds 3 baths ∙ 2,361 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,361 Sqft ∙ Built 2018
    property image
    LEASED 09/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.64
    •  
  • 614 Bloomover Street Concord, NC 2
    • 5 beds 3 baths ∙ 2,361 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,361 Sqft ∙ Built 2018
    property image
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.68
    •  
  • 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
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.68
    •  
  • 624 Nannyberry Lane Concord, NC 4
    • 5 beds 3 baths ∙ 2,361 Sqft ∙ Built 2019 5 beds 3 baths ∙ 2,361 Sqft ∙ Built 2019
    property image
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.68
    •  
PROPERTY LISTING DETAILS
Brian Royal
1.704.678.5126
Premier South
BESbswy