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4707 Adamshire Avenue Concord, NC 28025

3 Beds 2 Baths 1,533 sqft Built 2004

$229,500

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $149.71
  • 2 Days on Market
  • MLS # : 3680575
  • Updated Date : 11/14/2020 at 13:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,533 sqft
  • Baths : 2 full
Listing Agent

Re/max Leading Edge

Listing Agent's Description

Lovely home on one of St. Andrew's largest lots. Spacious, split bedroom plan, kitchen w/granite counters and tile backsplash, updated stainless appliances. Family room w/gas fireplace. Carpet has been replaced with LVP flooring throughout main floor living area, new carpet in bedrooms, large master bedroom w/walk-in closet. Bonus room for office/entertainment. Lots of room in the spacious, fenced backyard. Great home, move-in ready!

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: Saint Andrews

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210kPrice in $106k216k

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

Neighborhood: Saint Andrews

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350Rent in $7721375

* 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
A T Allen Elementary School Primary Regular 925 59 5
C C Griffin Middle School Middle Regular 1,092 70 4
Central Cabarrus High School High Regular 1,416 88 4

A T Allen Elementary School

  • Education Level: Primary
  • # of students: 925
  • # of teachers: 59
5
GreatSchools Rating

C C Griffin Middle School

  • Education Level: Middle
  • # of students: 1,092
  • # of teachers: 70
4
GreatSchools Rating

Central Cabarrus High School

  • Education Level: High
  • # of students: 1,416
  • # of teachers: 88
4
GreatSchools Rating
 

$206,550$252,450$229,500

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$847
Property Tax -$173
Property Insurance -$56
HOA -$25
Property Management Fees -$116
CASH FLOW
$73

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.

$229,500

PROJECTED PRICE

$1,290

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.5%
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-$2.0k$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$66,568

INVESTMENT

$66,568

Down Payment
$57,375
Rehab Estimate
$5,750
Closing Costs
$3,443

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$847

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,375
Loan Amount $172,125
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$17,578

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,403

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,275
1$1,2752$1,2903$1,3504$1,3505$1,350
$1,350
RENT COMPS ANALYSIS
  • 4707 Adamshire Avenue Concord, NC 2
    • 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.84
    •  
  • 947 Loch Lomond Circle Concord, NC 1
    • 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 2001
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.92
    •  
  • 1320 Piney Church Road Concord, NC 3
    • 3 beds 2 baths ∙ 1,473 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,473 Sqft ∙ Built 2004
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.92
    •  
  • 1030 Piney Church Road Concord, NC 4
    • 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,483 Sqft ∙ Built 1999
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.91
    •  
  • 610 Winborne Avenue Sw Concord, NC 5
    • 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 2005
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.91
    •  
PROPERTY LISTING DETAILS
Starr Black
1.704.467.2164
Re/max Leading Edge
BESbswy