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4505 Cecilia Lane #Lot 9 Charlotte, NC 28273

3 Beds 3 Baths 2,636 sqft Built 2021

$326,145

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $123.73
  • 4 Days on Market
  • MLS # : 3688475
  • Updated Date : 12/03/2020 at 14:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,636 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Huntersville

Listing Agent's Description

MARCH 2021 Completion! Look at the attachments for information on the AWESOME features included with these homes. We also have different floorplan available. Brand New Construction with UPGRADES included! This home has a wonderful open concept design & stylish modern colors. Spacious foyer leads to the adjoining Kitchen, Dining and Family Room with lots of easy-flow living space. Large modern Kitchen has Granite counters, white variable height cabinetry, Frigidaire Stainless Appliances and Subway Tile backsplash, plus a large granite island with breakfast bar and walk-in pantry. Convenient 2nd floor laundry room near the bedrooms. Vaulted ceiling and huge walk-in closet in the Master Suite. Photos are a representation of a similar Southcraft home.

SEE MORE

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

Neighborhood: Steele Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Steele Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Berewick Elementary School Primary Regular 601 38 6
Kennedy Middle School Middle Regular 722 43 4
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

Berewick Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 38
6
GreatSchools Rating

Kennedy Middle School

  • Education Level: Middle
  • # of students: 722
  • # of teachers: 43
4
GreatSchools Rating

Math, Engineering, Technology And Science At Olympic High School

  • Education Level: High
  • # of students: 607
  • # of teachers: 28
7
GreatSchools Rating
 

$293,531$358,760$326,145

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,203
Property Tax -$299
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
$171

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$326,145

PROJECTED PRICE

$1,870

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 3.00%
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$0.0$5.0k$10k$15k$20k

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$88,428

INVESTMENT

$88,428

Down Payment
$81,536
Rehab Estimate
$2,000
Closing Costs
$4,892

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,203

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,536
Loan Amount $244,609
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$46,838

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,905

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8703$1,8754$1,9955$2,150
$2,150
RENT COMPS ANALYSIS
  • 4505 Cecilia Lane Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,636 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,636 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.71
    •  
  • 11250 Walland Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,540 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,540 Sqft ∙ Built 2003
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.69
    •  
  • 4642 Cecilia Lane Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,706 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,706 Sqft ∙ Built 2015
    LEASED 01/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.69
    •  
  • 10109 Halkirk Manor Lane Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,696 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,696 Sqft ∙ Built 2005
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.74
    •  
  • 7303 Rupell Drive Charlotte, NC 5
    • 4 beds 4 baths ∙ 2,800 Sqft ∙ Built 4 beds 4 baths ∙ 2,800 Sqft ∙ Built
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.77
    •  
PROPERTY LISTING DETAILS
Jenna Lucas
1.704.877.5300
Keller Williams Huntersville
BESbswy