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PROPERTY INFO
FACTS
- Single Family
- Built In 2007
- Price/Sqft : $105.90
- 5 Days on Market
- MLS # : 3702642
- Updated Date : 01/29/2021 at 09:33
CONSTRUCTION
- Beds : 3
- Floor Size : 2,832 sqft
- Baths : 2 full , 1 half
Listing Agent
Stephen Cooley Real Estate Group
Listing Agent's Description
WE HAVE MULTIPLE OFFERS. SELLER IS ASKING FOR HIGHEST AND BEST BY SUNDAY, 1/31 AT 1PM. Such a beautiful 1 level home with a great floor plan. This home offers lots of square footage and rooms. There is a formal living room that could be used an an office. Formal dining room and a great room with a fireplace/gas logs. The great room opens up to the spacious kitchen where you will find lots of cabinets, a pantry and breakfast bar. Your favorite room in the house just may be the bright and cheery sun room where you can enjoy reading a book, quite time in the morning with a cup of coffee, or use it has a hobby room. Lots of time will be spent in the large fenced back yard. One of the largest lots in the neighborhood and on a cul-de-sac street. Great size patio for BBQs. Lots of architectural details throughout.
SEE MORE
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28079
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,980 |
| EXPENSES | Loan Payment | -$1,042 |
| Property Tax | -$240 | |
| Property Insurance | -$80 | |
| HOA | -$55 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$444
|
||
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.
$299,900
PROJECTED PRICE
$1,980
PROJECTED RENT
0.66%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 6.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$85,224
LOAN DETAILS
$1,042
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $74,975 |
| Loan Amount | $224,925 |
12.75
YEARS SAVED
$60,956
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 -
$0.7
LIST RENT PER SQFT
-
$1,804
COMP ESTIMATED VALUE -
$0.64
COMP AVG. RENT PER SQFT
Comps Range
-
4515 Oconnell Street Indian Trail, NC 3
- 3 beds 3 baths ∙ 2,818 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,818 Sqft ∙ Built 2007
- Rent
- Rent Per SQFT
- $1,980
- $0.70
-
1012 Yellow Bee Road Indian Trail, NC 1
- 4 beds 3 baths ∙ 2,716 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,716 Sqft ∙ Built 2007
LEASED 03/09/20- Rent
- Rent Per SQFT
- $1,750
- $0.64
-
2002 Seabiscuit Drive Indian Trail, NC 2
- 4 beds 3 baths ∙ 3,006 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,006 Sqft ∙ Built 2003
LEASED 03/25/20- Rent
- Rent Per SQFT
- $1,925
- $0.64
PROPERTY LISTING DETAILS
1.803.985.1240
Stephen Cooley Real Estate Group
