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4717 Oakwood Circle Gastonia, NC 28056

3 Beds 2 Baths 1,680 sqft Built 1976

$225,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $133.93
  • 6 Days on Market
  • MLS # : 3689518
  • Updated Date : 12/12/2020 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,680 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

Located in the Cedar Grove subdivision, this charming 3 bedroom, 2 bath home could be exactly what you're looking for. This property has a large front yard and a fenced back yard with tons of potential. The great room provides ample space for entertaining, yet keeps a cozy feel. Additional storage/playroom available that is plumbed for easy conversion to another bathroom. There is also a 910 square foot, wired, detached garage/workshop on the property. There are many aspects of this home that you can not help but fall in love with!

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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

Zip Code: 28056

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $81k213k

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

Zip Code: 28056

ZipNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400Rent in $6901460

* 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
Robinson Elementary School Primary Regular 362 22 6
Southwest Middle School Middle Regular 867 47 4
Forestview High School High Regular 1,143 63 7

Robinson Elementary School

  • Education Level: Primary
  • # of students: 362
  • # of teachers: 22
6
GreatSchools Rating

Southwest Middle School

  • Education Level: Middle
  • # of students: 867
  • # of teachers: 47
4
GreatSchools Rating

Forestview High School

  • Education Level: High
  • # of students: 1,143
  • # of teachers: 63
7
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$830
Property Tax -$128
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$314

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.

$225,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 4.6%
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$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

12.33

YEARS SAVED

$50,523

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,473

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,3253$1,3994$1,450
$1,450
RENT COMPS ANALYSIS
  • 4717 Oakwood Circle Gastonia, NC 4
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.86
    •  
  • 4119 Greenhaven Lane Gastonia, NC 1
    • 4 beds 2 baths ∙ 1,462 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,462 Sqft ∙ Built 1965
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.82
    •  
  • 800 Suequay Court Gastonia, NC 2
    • 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 1996
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.95
    •  
  • 605 Colorado Court Gastonia, NC 3
    • 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1979
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.86
    •  
PROPERTY LISTING DETAILS
Josh Kelly
1.704.421.4960
Keller Williams Ballantyne Area
BESbswy