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4727 Fairheath Road Charlotte, NC 28210

3 Beds 2 Baths 1,417 sqft Built 1962

$450,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $317.57
  • -1 Days on Market
  • MLS # : CAR3760697
  • Updated Date : 07/12/2021 at 17:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,417 sqft
  • Baths : 2 full
Listing Agent

Cottingham Chalk

Listing Agent's Description

Much Sought After One Story Living in incredible Southpark location. Cute as can be full brick home sits on private shaded property. Much sought after Farimeadows location on dead end street within easy walking to neighborhood voluntary swim and racquet. Great curb appeal and welcoming entrance greets you will natural light and warm toned hardwoods Open living and dining with peaceful views of large yard. Galley Kitchen with old brick character offers opportunity to create your dream kitchen. Cozy den with masonry fireplace and built - ins walks out onto screened porch to enjoy those evening breezes. An extra large patio for outdoor living and entertaining. Full privacy fence offers a great place for your dog to play. Master bedroom with ensuite and newer updates. Two other bedrooms offer layouts with front facing views and nice closets. Take shortcut path to Southpark to go for coffee, shopping or enjoying your favorite restaurants. See floorplan in attachment for room sizes.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Beverly Woods

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k462k

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

Neighborhood: Beverly Woods

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $8442403

* 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
Sharon Elementary School Primary Regular 809 44 8
Alexander Graham Middle School Middle Regular 1,449 77 7
Myers Park High School High Regular 2,762 145 8

Sharon Elementary School

  • Education Level: Primary
  • # of students: 809
  • # of teachers: 44
8
GreatSchools Rating

Alexander Graham Middle School

  • Education Level: Middle
  • # of students: 1,449
  • # of teachers: 77
7
GreatSchools Rating

Myers Park High School

  • Education Level: High
  • # of students: 2,762
  • # of teachers: 145
8
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,563
Property Tax -$392
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$178

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.

$450,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$14,100

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $1.38

    LIST RENT PER SQFT
  • $1,916

    COMP ESTIMATED VALUE
  • $1.35

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8753$1,9004$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 4727 Fairheath Road Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,417 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,417 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.38
    •  
  • 3444 Stettler View Road Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,403 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,403 Sqft ∙ Built 1999
    property image
    LEASED 03/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.32
    •  
  • 5011 Sharon Road #j Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1987
    property image
    LEASED 05/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.41
    •  
  • 5003 Sharon Road #l Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1988
    property image
    LEASED 04/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.43
    •  
  • 3235 Archdale Drive Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1952
    property image
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.25
    •  
PROPERTY LISTING DETAILS
Reba Hatfield
1.704.533.3489
Cottingham Chalk
BESbswy