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4610 Glasgow Court Gastonia, NC 28056

3 Beds 3 Baths 2,345 sqft Built 2004

$345,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $147.12
  • 6 Days on Market
  • MLS # : 3678986
  • Updated Date : 11/07/2020 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,345 sqft
  • Baths : 2 full , 1 half
Listing Agent

Moss Realty

Listing Agent's Description

This home is better than new, The home is gorgeous inside and out. Inside is an open and inviting floor plan. The kitchen is gorgeous and offers lots of cabinets, newly upgraded granite countertops, appliances and more. There are beautiful hardwoods in the home as well as new dark wood laminate in the master suite with huge walk-in closet. The bonus room is nicely decorated and could be many things included but not limited to a mancave. Outside is just perfect. It offers the most beautiful and fabulous pool area including a covered shelter area for relaxing. Also, you will find an extremely cozy firepit area. You will have plenty of privacy in this private setting. Other updates include new roof, water heater, range, AC and more. This is a must see home!

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

Zip Code: 28056

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $81k213k

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

Zip Code: 28056

ZipNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400Rent in $6901460

* 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
Lowell Elementary School Primary Regular 537 31 4
Holbrook Middle School Middle Regular 731 40 6
Ashbrook High School High Regular 1,436 89 4

Lowell Elementary School

  • Education Level: Primary
  • # of students: 537
  • # of teachers: 31
4
GreatSchools Rating

Holbrook Middle School

  • Education Level: Middle
  • # of students: 731
  • # of teachers: 40
6
GreatSchools Rating

Ashbrook High School

  • Education Level: High
  • # of students: 1,436
  • # of teachers: 89
4
GreatSchools Rating
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,273
Property Tax -$286
Property Insurance -$71
HOA -$6
Property Management Fees -$171
CASH FLOW
$92

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.

$345,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 4.6%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$25,664

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,940

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8753$1,8954$1,9005$1,999
$1,999
RENT COMPS ANALYSIS
  • 4610 Glasgow Court Gastonia, NC 4
    • 3 beds 3 baths ∙ 2,345 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,345 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.81
    •  
  • 2625 Holly Oak Lane Gastonia, NC 1
    • 4 beds 2 baths ∙ 2,298 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,298 Sqft ∙ Built 2008
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.78
    •  
  • 3342 Old Knobbley Oak Drive Gastonia, NC 2
    • 3 beds 3 baths ∙ 2,128 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,128 Sqft ∙ Built 2008
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.88
    •  
  • 2513 Holly Oak Lane Gastonia, NC 3
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2006
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.86
    •  
  • 133 Church Street Mcadenville, NC 5
    • 4 beds 4 baths ∙ 2,532 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,532 Sqft ∙ Built 2005
    LEASED 07/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.79
    •  
PROPERTY LISTING DETAILS
Warren Moss
1.704.865.5555
Moss Realty
BESbswy