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4805 Murrayhill Road Charlotte, NC 28209

3 Beds 1 Baths 1,040 sqft Built 1952

$330,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $317.31
  • 3 Days on Market
  • MLS # : 3716897
  • Updated Date : 03/13/2021 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,040 sqft
  • Baths : 1 full
Listing Agent

Cacarter Group Llc

Listing Agent's Description

Move-In Ready home in Hot Madison Park neighborhood! Pristine brick home with newer architectural shingle roof and HVAC, large fenced backyard and attached storage building. Plenty of off-street parking. 3 BR home features hardwoods throughout, ceramic tile, and an upgraded kitchen with stainless appliances/granite countertops. An updated home in this hot neighborhood will not last long!

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: Madison Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $102k336k

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

Neighborhood: Madison Park

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
Pinewood Elementary School Primary Regular 557 38 4
Sedgefield Middle School Middle Regular 745 45 1
Myers Park High School High Regular 2,762 145 8

Pinewood Elementary School

  • Education Level: Primary
  • # of students: 557
  • # of teachers: 38
4
GreatSchools Rating

Sedgefield Middle School

  • Education Level: Middle
  • # of students: 745
  • # of teachers: 45
1
GreatSchools Rating

Myers Park High School

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

$297,000$363,000$330,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$1,146
Property Tax -$294
Property Insurance -$47
Property Management Fees -$119
CASH FLOW
-$156

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.

$330,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 9.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$9,104

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $1.39

    LIST RENT PER SQFT
  • $1,365

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4503$1,4504$1,4505$1,600
$1,600
RENT COMPS ANALYSIS
  • 4805 Murrayhill Road Charlotte, NC 4
    • 3 beds 1 baths ∙ 1,040 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,040 Sqft ∙ Built 1952
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.39
    •  
  • 5009 Murrayhill Road Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,144 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,144 Sqft ∙ Built 1957
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.18
    •  
  • 5012 Furman Place Charlotte, NC 2
    • 3 beds 1 baths ∙ 1,110 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,110 Sqft ∙ Built 1954
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.31
    •  
  • 4638 Murrayhill Road Charlotte, NC 3
    • 3 beds 1 baths ∙ 1,063 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,063 Sqft ∙ Built 1953
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.36
    •  
  • 4734 Old Woods Road Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,144 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,144 Sqft ∙ Built 1976
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.40
    •  
PROPERTY LISTING DETAILS
Christopher Carter
1.704.619.8594
Cacarter Group Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3716897
Last Updated: 03/13/2021
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