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4724 Lawrence Orr Road #2 Charlotte, NC 28212

4 Beds 3 Baths 2,151 sqft Built 2021

$318,990

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $148.30
  • 2 Days on Market
  • MLS # : 3722633
  • Updated Date : 03/27/2021 at 11:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,151 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Huntersville

Listing Agent's Description

Lots of Upgrades included in the price! LVP on main level living areas, tile in the full bathrooms/ Laundry and carpet in bedrooms. Large modern Kitchens have Granite counters,  Frigidaire Stainless Appliances and Subway Tile backsplash, breakfast bar, built in soap dispenser and USB outlet in Kitchen.  This home has a Spacious foyer and leads to the adjoining Kitchen, Dining and Family Room with lots of easy-flow living space. Vaulted ceiling and huge walk-in closet in the Master Suite on Main floor. All photos are representation photos only. This home will be complete in June.

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

Neighborhood: Farm Pond

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Farm Pond

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
Lawrence Orr Elementary School Primary Regular NA
Cochrane Collegiate Academy Middle Regular 702 48 2
Cochrane Collegiate Academy High Regular 702 48 2

Lawrence Orr Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Cochrane Collegiate Academy

  • Education Level: Middle
  • # of students: 702
  • # of teachers: 48
2
GreatSchools Rating

Cochrane Collegiate Academy

  • Education Level: High
  • # of students: 702
  • # of teachers: 48
2
GreatSchools Rating
 

$287,091$350,889$318,990

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,108
Property Tax -$301
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$104

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$318,990

PROJECTED PRICE

$1,700

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.7%
Maintenance Year (1-5) 3.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,532

INVESTMENT

$86,532

Down Payment
$79,748
Rehab Estimate
$2,000
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,108

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,748
Loan Amount $239,243
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$26,929

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,662

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,349
1$1,3492$1,3953$1,5004$1,6955$1,700
$1,700
RENT COMPS ANALYSIS
  • 4724 Lawrence Orr Road Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,151 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,151 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.79
    •  
  • 6931 Robinson Church Road Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 1955
    property image
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.75
    •  
  • 4604 Gaynelle Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 1,890 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,890 Sqft ∙ Built 1986
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.74
    •  
  • 6401 Woodbridge Road Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1980
    property image
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.81
    •  
  • 5724 Settlemyer Court Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,150 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,150 Sqft ∙ Built 2001
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.79
    •  
PROPERTY LISTING DETAILS
Jenna Lucas
1.704.877.5300
Keller Williams Huntersville
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3722633
Last Updated: 03/27/2021
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