Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

4739 Carberry Court Charlotte, NC 28226

4 Beds 3 Baths 2,391 sqft Built 1984

$475,000

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $198.66
  • 10 Days on Market
  • MLS # : 3683202
  • Updated Date : 12/12/2020 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,391 sqft
  • Baths : 2 full , 1 half
Listing Agent

Prostead Realty

Listing Agent's Description

Location location location! Minutes from South Park and Stonecrest shopping, and I-485. This gorgeous home in the established quiet neighborhood of Wessex Square has incredible upgrades, a beautiful outdoor pool and a back yard perfect for entertaining! Exterior siding, exterior and interior paint, carpets, hardwoods, and electrical panel ALL redone and replaced in November 2020! New gas fireplace only 1 year old. Pool liner, filter, pump, and timer all less than 5 years old. This maintenance free and move-in ready home in this highly desirable school district is waiting for you! Do not miss this opportunity for a solid investment! NO HOA fees makes this property even more attractive!

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

Neighborhood: Wessex Square

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $116k394k

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

Neighborhood: Wessex Square

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8442180

* 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
Olde Providence Elementary School Primary Regular 717 39 9
Carmel Middle School Middle Regular 1,050 58 7
Myers Park High School High Regular 2,762 145 8

Olde Providence Elementary School

  • Education Level: Primary
  • # of students: 717
  • # of teachers: 39
9
GreatSchools Rating

Carmel Middle School

  • Education Level: Middle
  • # of students: 1,050
  • # of teachers: 58
7
GreatSchools Rating

Myers Park High School

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

$427,500$522,500$475,000

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,753
Property Tax -$414
Property Insurance -$72
HOA -$3
Property Management Fees -$119
CASH FLOW
-$120

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.

$475,000

PROJECTED PRICE

$2,240

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.4%
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$20k

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$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$24,414

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,212

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1003$2,1004$2,2405$2,300
$2,300
RENT COMPS ANALYSIS
  • 4739 Carberry Court Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,391 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,391 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.94
    •  
  • 7802 Ridgeloch Place Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,362 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,362 Sqft ∙ Built 1981
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.84
    •  
  • 6554 Cross Field Lane Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 1989
    LEASED 11/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.99
    •  
  • 4830 Carsons Pond Road Charlotte, NC 3
    • 3 beds 3 baths ∙ 2,254 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,254 Sqft ∙ Built 1987
    LEASED 11/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.93
    •  
  • 4829 Carsons Pond Road Charlotte, NC 5
    • 3 beds 2 baths ∙ 2,503 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,503 Sqft ∙ Built 1988
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.92
    •  
PROPERTY LISTING DETAILS
Rania Tsopanas
1.704.705.0808
Prostead Realty
BESbswy