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4732 Roberta Road Concord, NC 28027

3 Beds 2 Baths 2,498 sqft Built 1973

$363,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $145.32
  • 5 Days on Market
  • MLS # : 3702519
  • Updated Date : 01/29/2021 at 16:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,498 sqft
  • Baths : 2 full
Listing Agent

Allen Tate Concord

Listing Agent's Description

PLEASE PRESENT ALL OFFERS BY 3 PM TOMORROW 1/30/21. SELLER WILL THEN MAKE DECISION. Pristine all brick ranch situated on over an acre and convenient to Harrisburg and Concord restaurants, shops, and parks. Picture enjoying your morning coffee in the spacious sunroom that overlooks the beautiful outdoor patio complete with 15 x 38 pergola. This back yard oasis is perfect for entertaining any time of the year. Recent updates include: granite countertops, beautiful wood, tile floors, new paint, plantation shutters, new moisture barrier in the crawl space and more. An irrigation system with a well keeps the yard luscious and green. The 2 car 24x32 propane heated detached garage serves as the perfect workshop or man cave. Currently the upper floor serves as a workout and exercise space with ac units. An additional storage building is located behind the garage.

SEE MORE

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: 28027

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $113k248k

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

Zip Code: 28027

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8401526

* 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
Pitts School Road Elementary School Primary Regular 809 49 5
Harold Winkler Middle School Middle Regular 978 60 6
Jay M Robinson High School High Regular 1,339 86 3

Pitts School Road Elementary School

  • Education Level: Primary
  • # of students: 809
  • # of teachers: 49
5
GreatSchools Rating

Harold Winkler Middle School

  • Education Level: Middle
  • # of students: 978
  • # of teachers: 60
6
GreatSchools Rating

Jay M Robinson High School

  • Education Level: High
  • # of students: 1,339
  • # of teachers: 86
3
GreatSchools Rating
 

$326,700$399,300$363,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,261
Property Tax -$274
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
$24

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.

$363,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.3%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,945

INVESTMENT

$101,945

Down Payment
$90,750
Rehab Estimate
$5,750
Closing Costs
$5,445

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,261

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,750
Loan Amount $272,250
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$21,421

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,805

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,645
1$1,6452$1,7453$1,7504$1,8455$1,875
$1,875
RENT COMPS ANALYSIS
  • 4732 Roberta Road Concord, NC 3
    • 3 beds 2 baths ∙ 2,398 Sqft ∙ Built 1973 3 beds 2 baths ∙ 2,398 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.73
    •  
  • 3575 Alister Avenue Concord, NC 1
    • 4 beds 3 baths ∙ 2,221 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,221 Sqft ∙ Built 2009
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.74
    •  
  • 3516 Larkhaven Avenue Concord, NC 2
    • 4 beds 2 baths ∙ 2,270 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,270 Sqft ∙ Built 2012
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.77
    •  
  • 5359 Roberta Crossing Concord, NC 4
    • 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 2017
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.75
    •  
  • 5399 Roberta Road Concord, NC 5
    • 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 2017
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.70
    •  
PROPERTY LISTING DETAILS
Diane Honeycutt
1.704.721.7130
Allen Tate Concord
BESbswy