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4708 Goldmine Road Wesley Chapel, NC 28110

3 Beds 2 Baths 1,800 sqft Built 1973

$299,500

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $166.39
  • 13 Days on Market
  • MLS # : 3695509
  • Updated Date : 01/15/2021 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,800 sqft
  • Baths : 2 full
Listing Agent

Southern Way Homes Realty, Llc

Listing Agent's Description

Attractive full brick ranch plan, nice curb appeal with white columned rocking chair capable front porch. And... a 3 car detached garage, wired, on concrete slab. More than 1 & 1/2 acres, rear partially fenced, (stable, tractor shed needs TLC). New expansive concrete patio for outdoor living area. 2 full bathrooms which have been updated, new carpet in den, fireplace in family room (seller makes no warranty of the FP) however was used with no issues. Any deficiencies found in the home have been or are being attended to. Some new paint, recent professional termite treatment with transferrable bond and needed minor repairs. Moisture barrier in crawl. This one will be a find for you if you're looking for a convenient Wesley Chapel location. Flat level front yard sloping slightly to the rear partially hardwood wooded lot. Call your agent, easy to see. Roof was replaced not long ago.

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

Zip Code: 28110

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210kPrice in $113k215k

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

Zip Code: 28110

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350Rent in $8011375

* 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
Sun Valley Elementary School Primary Regular 695 45 9
Sun Valley Middle School Middle Regular 1,365 69 6
Sun Valley High School High Regular 1,306 76 7

Sun Valley Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 45
9
GreatSchools Rating

Sun Valley Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 69
6
GreatSchools Rating

Sun Valley High School

  • Education Level: High
  • # of students: 1,306
  • # of teachers: 76
7
GreatSchools Rating
 

$269,550$329,450$299,500

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$1,040
Property Tax -$154
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$56

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.

$299,500

PROJECTED PRICE

$1,430

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 7.1%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,118

INVESTMENT

$85,118

Down Payment
$74,875
Rehab Estimate
$5,750
Closing Costs
$4,493

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,040

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,875
Loan Amount $224,625
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$22,003

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,458

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,335
1$1,3352$1,3953$1,3954$1,3955$1,430
$1,430
RENT COMPS ANALYSIS
  • 4708 Goldmine Road Wesley Chapel, NC 5
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.79
    •  
  • 3004 Kansas City Drive Monroe, NC 1
    • 3 beds 3 baths ∙ 1,622 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,622 Sqft ∙ Built 2003
    property image
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,335
    • $0.82
    •  
  • 419 Galesburg Drive Monroe, NC 2
    • 3 beds 3 baths ∙ 1,828 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,828 Sqft ∙ Built 2005
    property image
    LEASED 10/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.76
    •  
  • 3000 Meriwether Lewis Trail Monroe, NC 3
    • 4 beds 3 baths ∙ 1,744 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,744 Sqft ∙ Built 2000
    property image
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.80
    •  
  • 609 Lindsborg Trail Monroe, NC 4
    • 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 2005
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.86
    •  
PROPERTY LISTING DETAILS
Brian Stickley
1.704.608.3619
Southern Way Homes Realty, Llc
BESbswy