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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Cabarrus Country Club
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$62,699
LOAN DETAILS
$746
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $53,725 |
| Loan Amount | $161,175 |
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
-
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
1.980.521.8352
Re/max Executive
