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4605 Rocky Meadow Way Indian Trail, NC 28079

3 Beds 2 Baths 1,362 sqft Built 1993

$239,900

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $176.14
  • 4 Days on Market
  • MLS # : 3702996
  • Updated Date : 01/30/2021 at 13:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,362 sqft
  • Baths : 2 full
Listing Agent

Ross & Associates Real Estate

Listing Agent's Description

Indian Trail convenience in lovely Brookstone Village! 3 bedrooms, 2 full baths, 2 car garage, very nice yard, partial brick, fire place, open floor plan, upgrades throughout, master ensuite, great community, this one will not last! Call for a showing today. ***Multiple offers, please deliver highest and best by 8pm January 30, 2021.*** Any item marked "other" should be verified by buyer in showing appt or inspections.

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
Sardis Elementary School Primary Regular 592 45 8
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Sardis Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 45
8
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
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$833
Property Tax -$157
Property Insurance -$53
HOA -$18
Property Management Fees -$119
CASH FLOW
$230

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.

$239,900

PROJECTED PRICE

$1,410

PROJECTED RENT

0.59%

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) 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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$833

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

10.67

YEARS SAVED

$38,218

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,478

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,365
1$1,3652$1,3953$1,4104$1,5505$1,550
$1,550
RENT COMPS ANALYSIS
  • 4605 Rocky Meadow Way Indian Trail, NC 3
    • 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $1.04
    •  
  • 5916 Hoover Street Indian Trail, NC 1
    • 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1994
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,365
    • $1.10
    •  
  • 4007 Croftwood Lane Indian Trail, NC 2
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1994
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.06
    •  
  • 1215 Loring Drive Indian Trail, NC 4
    • 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1999
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.07
    •  
  • 4205 Wesley Court Indian Trail, NC 5
    • 3 beds 2 baths ∙ 1,401 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,401 Sqft ∙ Built 1993
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.11
    •  
PROPERTY LISTING DETAILS
Kelly Benton
1.704.291.0888
Ross & Associates Real Estate
BESbswy