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4714 Victory Lane Charlotte, NC 28269

3 Beds 2 Baths 1,180 sqft Built 2003

$190,000

List Price

$1,180

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $161.02
  • 2 Days on Market
  • MLS # : 3680383
  • Updated Date : 11/07/2020 at 13:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,180 sqft
  • Baths : 2 full
Listing Agent

Dynasty Asset Management & Sales Llc

Listing Agent's Description

Beautiful single level home located in a NO HOA community. This 3 bedroom 2 bath home features, large living room, breakfast/dining area, eat in kitchen, with hardwood floors throughout majority of the main living area. Large master suite has vaulted ceilings ,with dual vanities with ceramic tile, garden tub , stand alone shower , and a walk in closet. Spacious yard for backyard entertainment. New roof installation scheduled, will be complete by closing, recently installed HVAC system. New stainless steel appliances. 5 minutes from 485 and Shopping , 20 minutes from Concord Mills, 10 minutes from Center City Charlotte. Don't miss out on this great opportunity.

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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: Derita - Statesville

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Derita - Statesville

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771518

* 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
Governors' Village Stem Academy Lower Campus Primary Regular 815 53 4
Vance High School High Regular 1,714 91 3

Governors' Village Stem Academy Lower Campus

  • Education Level: Primary
  • # of students: 815
  • # of teachers: 53
4
GreatSchools Rating

Vance High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 91
3
GreatSchools Rating
 

$171,000$209,000$190,000

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$701
Property Tax -$166
Property Insurance -$49
Property Management Fees -$106
CASH FLOW
$158

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.

$190,000

PROJECTED PRICE

$1,180

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
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$56,100

INVESTMENT

$56,100

Down Payment
$47,500
Rehab Estimate
$5,750
Closing Costs
$2,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$701

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,500
Loan Amount $142,500
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$25,475

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,180

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,053

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,180
1$1,1802$1,2253$1,2254$1,2955$1,299
$1,299
RENT COMPS ANALYSIS
  • 4714 Victory Lane Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $1.00
    •  
  • 5209 Wales Street Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1951
    LEASED 08/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.86
    •  
  • 3421 Nevin Brook Road Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,330 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,330 Sqft ∙ Built 2001
    LEASED 10/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.92
    •  
  • 5132 Elizabeth Road Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,464 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,464 Sqft ∙ Built 2002
    LEASED 10/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.88
    •  
  • 5118 Cross Street Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 2004
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.91
    •  
PROPERTY LISTING DETAILS
Michael Morings
1.704.779.4632
Dynasty Asset Management & Sales Llc
BESbswy