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4623 Arborloft Court Charlotte, NC 28270

5 Beds 4 Baths 2,434 sqft Built 1994

INVESTimate

$475,000

List Price

$2,440

$2,196 - $2,684

Rent Est.

$493,667  ( +3.93%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1994
  • Price/Sqft : $195.15
  • 33 Days on Market
  • MLS # : 3644422
  • Updated Date : 08/17/2020 at 20:32
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,434 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

Gorgeous 5-bedroom, 4 bath home in the highly sought-after Providence Arbours neighborhood! Situated at the end of a cul-de-sac on a serene, wooded lot with upper level deck and lower level walk-out patio. Home features a first-floor master, upper level extra-large bedroom / media room, a fully finished basement with; 8’ ceilings, roughed in kitchen area, extra bedroom / home office, bathroom and additional storage area. New paint and trim, main level light fixtures and carpeting throughout. Entertainment / home office / exercise options in basement are wide open! Basement has an incredible workshop space - a craftsman's dream! Large home with lots of space to grow. One of the most secluded sections of Providence Arbours. Backyard is nature lovers dream, while still being just minutes away from the Waverly, Arboretum and Promenade shopping centers.

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

Neighborhood: Providence Plantation

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $116k585k

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

Neighborhood: Providence Plantation

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $8442955

* 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
Providence Spring Elementary School Primary Regular 871 45 9
Crestdale Middle School Middle Regular 868 44 7
Providence High School High Regular 1,991 94 9

Providence Spring Elementary School

  • Education Level: Primary
  • # of students: 871
  • # of teachers: 45
9
GreatSchools Rating

Crestdale Middle School

  • Education Level: Middle
  • # of students: 868
  • # of teachers: 44
7
GreatSchools Rating

Providence High School

  • Education Level: High
  • # of students: 1,991
  • # of teachers: 94
9
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,753
Property Tax -$489
Property Insurance -$73
HOA -$24
Property Management Fees -$220
CASH FLOW
-$118

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.

$475,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 3.93%
Maintenance Year (1-5) 8.00%
Vacancy 6.36%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$19,343

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,959

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8453$1,9454$2,1005$2,440
$2,440
RENT COMPS ANALYSIS
  • 4623 Arborloft Court Charlotte, NC 5
    • 5 beds 4 baths ∙ 2,434 Sqft ∙ Built 1994 5 beds 4 baths ∙ 2,434 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $1.00
    •  
  • 6313 Gatesville Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,265 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,265 Sqft ∙ Built 2000
    LEASED 08/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.79
    •  
  • 6431 Gatesville Lane Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 2000
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.79
    •  
  • 4109 Spring Street Matthews, NC 3
    • 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 2011
    LEASED 06/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.84
    •  
  • 3629 Cole Mill Road Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,625 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,625 Sqft ∙ Built 2000
    LEASED 07/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.80
    •  
PROPERTY LISTING DETAILS
John Trubinsky
1.704.706.7193
Keller Williams Ballantyne Area
BESbswy