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4785 Birchhollow Drive Charlotte, NC 28215

4 Beds 3 Baths 2,619 sqft Built 2000

$416,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $158.84
  • 6 Days on Market
  • MLS # : 3697629
  • Updated Date : 01/12/2021 at 10:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,619 sqft
  • Baths : 2 full , 1 half
Listing Agent

Carolina Realty Solutions

Listing Agent's Description

Beautiful custom home 20 min to uptown charlotte and 5 min to Lynx station for easy commute. Feature 75K in remodeling including new 30 years arhitectural roof, skylight windows and dolby sound acoustic livingroom, new gutters with metal screening for lifetime leafs protection, new high efficient HVAC both floors, hardwood floors solid oak, interior staircase with Palermo metal balusters, Amalfi marble with thermostat controlled heat, refinish 42" cabinets in bathrooms and kitcken, new bathroom redesign, granite countertops. Other features include hot tub, chicken barn, audio wired home for home theater and multi zone, sprinkle system, night lighting; Cul de sac very private, mature trees subdivision, non HOA feel like on resort. Make it your home, call today.

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: Back Creek Church Road

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Back Creek Church Road

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Reedy Creek Elementary School Primary Regular 730 44 6
Northridge Middle School Middle Regular 779 43 3
Rocky River High School High Regular 1,710 90 3

Reedy Creek Elementary School

  • Education Level: Primary
  • # of students: 730
  • # of teachers: 44
6
GreatSchools Rating

Northridge Middle School

  • Education Level: Middle
  • # of students: 779
  • # of teachers: 43
3
GreatSchools Rating

Rocky River High School

  • Education Level: High
  • # of students: 1,710
  • # of teachers: 90
3
GreatSchools Rating
 

$374,400$457,600$416,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,445
Property Tax -$363
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
-$63

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.

$416,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.4%
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$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$115,990

INVESTMENT

$115,990

Down Payment
$104,000
Rehab Estimate
$5,750
Closing Costs
$6,240

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,445

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,000
Loan Amount $312,000
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$20,199

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,801

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6603$1,6954$1,7455$1,940
$1,940
RENT COMPS ANALYSIS
  • 4785 Birchhollow Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,619 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,619 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.74
    •  
  • 11341 Erwin Ridge Avenue Charlotte, NC 1
    • 5 beds 3 baths ∙ 2,462 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,462 Sqft ∙ Built 2003
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.65
    •  
  • 3323 Streamside Drive Davidson, NC 2
    • 5 beds 3 baths ∙ 2,354 Sqft ∙ Built 2008 5 beds 3 baths ∙ 2,354 Sqft ∙ Built 2008
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.71
    •  
  • 9814 Jeanette Circle Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2004
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.71
    •  
  • 10730 Dapple Grey Lane Charlotte, NC 4
    • 3 beds 2 baths ∙ 2,576 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,576 Sqft ∙ Built 2007
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.68
    •  
PROPERTY LISTING DETAILS
Robin Hurd
1.704.968.5273
Carolina Realty Solutions
BESbswy