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4645 Poplar Tent Road Concord, NC 28027

3 Beds 2 Baths 1,340 sqft Built 1940

$214,900

List Price

$1,220

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1940
  • Price/Sqft : $160.37
  • 2 Days on Market
  • MLS # : 3696852
  • Updated Date : 01/09/2021 at 09:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,340 sqft
  • Baths : 2 full
Listing Agent

Re/max Executive

Listing Agent's Description

This 3 Bedroom 2 Bath Ranch is move in ready with many recent updates. All new interior paint and new light fixtures. This home has onsite finished hardwoods floors in the living room, hallway, and 2 of the bedrooms. These floors are the original hardwoods in the home. The 3rd bedroom has new carpet. Both bathrooms have new vanities, new tile flooring, new tile surround around the tubs, and new lighting. Updated Kitchen with Stainless appliances, new quartz counter tops, freshly painted cabinets, and new tile backsplash. All bedrooms and the living room have new ceiling fans. New deck on the back.

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

Neighborhood: Cabarrus Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $113k286k

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

Neighborhood: Cabarrus Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270075080085090095010001050110011501200125013001350Rent in $6791375

* 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
Weddington Hills Elementary School Primary Regular 917 57 5
Northwest Cabarrus Middle School Middle Regular 905 58 4
Northwest Cabarrus High School High Regular 1,198 72 3

Weddington Hills Elementary School

  • Education Level: Primary
  • # of students: 917
  • # of teachers: 57
5
GreatSchools Rating

Northwest Cabarrus Middle School

  • Education Level: Middle
  • # of students: 905
  • # of teachers: 58
4
GreatSchools Rating

Northwest Cabarrus High School

  • Education Level: High
  • # of students: 1,198
  • # of teachers: 72
3
GreatSchools Rating
 

$193,410$236,390$214,900

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$746
Property Tax -$227
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$75

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.

$214,900

PROJECTED PRICE

$1,220

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.3%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,699

INVESTMENT

$62,699

Down Payment
$53,725
Rehab Estimate
$5,750
Closing Costs
$3,224

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$746

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,725
Loan Amount $161,175
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$17,071

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,236

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,220
1$1,2202$1,3493$1,4494$1,4505$1,500
$1,500
RENT COMPS ANALYSIS
  • 4645 Poplar Tent Road Concord, NC 1
    • 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1940
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $0.91
    •  
  • 4015 Maderia Drive Nw Concord, NC 2
    • 4 beds 3 baths ∙ 1,601 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,601 Sqft ∙ Built 2019
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.84
    •  
  • 47 Mcdonald Street Nw Concord, NC 3
    • 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1997
    property image
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.94
    •  
  • 5640 Winslow Avenue Nw Concord, NC 4
    • 3 beds 3 baths ∙ 1,640 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,640 Sqft ∙ Built 1997
    property image
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
  • 5497 Coleman Circle Concord, NC 5
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1998
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.00
    •  
PROPERTY LISTING DETAILS
Bradley Cohen
1.980.521.8352
Re/max Executive
BESbswy