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4621 Avalon Forest Lane Charlotte, NC 28269

4 Beds 3 Baths 1,643 sqft Built 1996

$275,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $167.38
  • 5 Days on Market
  • MLS # : No MLS Number
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,643 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tobin

Listing Agent's Description

WOW! This home is like new with tons of updates! New Paint, New Carpet, New Granite Counters, New Stainless Steel appliances, New light fixtures and faucets. Granite in all the bathrooms too! Master has Vaulted ceiling, ceiling fan, walk-in closet and soaking tub! The bedroom over the garage is extra large! Front Dining Room would be a perfect home office/school space! Backyard is large and flat with a patio ready for entertaining! NEW HVAC Unit 2021! 2 car garage with shelving units and opener. Great location in the Mallard Creek area off Prosperity Church Rd. Shopping and restaurants nearby! Easy access to 485, 85, UNC Charlotte too! Street is a dead end so no through traffic! This one won't last long! Showings begin Thursday, February 25. Home is still being worked on. Will update photos when possible. Should be completed by active date.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Prosperity Church Road

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Prosperity Church Road

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
Croft Community School Primary Regular 644 35 NA
Ridge Road Middle School Middle Regular 1,285 65 6
Mallard Creek High School High Regular 2,472 123 6

Croft Community School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 35
NA
GreatSchools Rating

Ridge Road Middle School

  • Education Level: Middle
  • # of students: 1,285
  • # of teachers: 65
6
GreatSchools Rating

Mallard Creek High School

  • Education Level: High
  • # of students: 2,472
  • # of teachers: 123
6
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$955
Property Tax -$240
Property Insurance -$58
HOA -$11
Property Management Fees -$119
CASH FLOW
$267

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.

$275,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.4%
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$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$43,407

INTEREST SAVED

CASH FLOW REINVESTMENT

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

Solutions Manager

YOUR SOLUTIONS MANAGER

Please Contact Your Solutions Manager

To review the detailed price and rent comps for this property and answer any questions you may have.

PROPERTY LISTING DETAILS
Mynd
Tobin
BESbswy