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4508 Poplin Grove Drive Indian Trail, NC 28079

4 Beds 3 Baths 3,221 sqft Built 2021

$453,261

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $140.72
  • 3 Days on Market
  • MLS # : 3708266
  • Updated Date : 02/12/2021 at 15:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,221 sqft
  • Baths : 3 full
Listing Agent

M/i Homes

Listing Agent's Description

Homesite 71 – Massive arched stone entryway on our Preston II model w/ 2-story foyer, dining room into open Kitchen/Breakfast/Family. Upgraded 42" kitchen cabinets, gourmet kitchen with gas range/conv. double oven. Granite in Kit and owner's bathroom w/tile and huge designer shower. Large walk-in Owner's Closet. EVP and tile throughout. Tray ceilings in Dining room & owner's bedroom, Gas Fireplace, rear covered porch added. Full yard sod with beautiful tree-lined view overlook in back yard.

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

Zip Code: 28079

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Zip Code: 28079

ZipNIR 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
Porter Ridge Elementary School Primary Regular 479 31 6
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Porter Ridge Elementary School

  • Education Level: Primary
  • # of students: 479
  • # of teachers: 31
6
GreatSchools Rating

Porter Ridge Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 72
7
GreatSchools Rating

Porter Ridge High School

  • Education Level: High
  • # of students: 1,591
  • # of teachers: 77
7
GreatSchools Rating
 

$407,935$498,587$453,261

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,574
Property Tax -$296
Property Insurance -$88
HOA -$25
Property Management Fees -$119
CASH FLOW
-$262

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.

$453,261

PROJECTED PRICE

$1,840

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.3%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,114

INVESTMENT

$122,114

Down Payment
$113,315
Rehab Estimate
$2,000
Closing Costs
$6,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,574

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $113,315
Loan Amount $339,946
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$9,703

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.57

    LIST RENT PER SQFT
  • $1,868

    COMP ESTIMATED VALUE
  • $0.58

    COMP AVG. RENT PER SQFT
Comps Range
$1,820
1$1,8202$1,8403$1,845
$1,845
RENT COMPS ANALYSIS
  • 4508 Poplin Grove Drive Indian Trail, NC 2
    • 4 beds 3 baths ∙ 3,221 Sqft ∙ Built 2021 4 beds 3 baths ∙ 3,221 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.57
    •  
  • 1012 Terrapin Street Indian Trail, NC 1
    • 5 beds 4 baths ∙ 3,097 Sqft ∙ Built 2010 5 beds 4 baths ∙ 3,097 Sqft ∙ Built 2010
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.59
    •  
  • 6005 Blue Stream Lane Indian Trail, NC 3
    • 4 beds 3 baths ∙ 3,226 Sqft ∙ Built 2009 4 beds 3 baths ∙ 3,226 Sqft ∙ Built 2009
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.57
    •  
PROPERTY LISTING DETAILS
Alan Beulah
1.704.208.8125
M/i Homes
BESbswy