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PROPERTY INFO
FACTS
- Single Family
- Built In 1983
- Price/Sqft : $186.54
- 2 Days on Market
- MLS # : 3657504
- Updated Date : 01/02/2021 at 15:08
CONSTRUCTION
- Beds : 4
- Floor Size : 2,332 sqft
- Baths : 2 full , 1 half
Listing Agent
Re/max Executive
Listing Agent's Description
New Craftsman Style Home UPDATED & Ready for you! Walk onto beautiful engineered wood flooring throughout most of the main living area. Sunken, HUGE Great room w/Accent Beam, Vaulted Ceilings, Stone Accented FP & Ceiling Fan. This Area is OPEN to the Custom Wet-Bar & Dining Area w/Designer light fixture. Walk into the BRAND NEW KITCHEN! Features you will find are: New White Shaker 42"Cabinets,Exotic Granite,NEW SS Appls, Designer Back-splash,Island w/Bar Sitting & Recessed lighting! Kitchen & Breakfast Area is OPEN to the HUGE Family room. Enjoy Nature inside your NEW Screen Porch w/Fan! MASTER is HUGE & on the MAIN Floor! Luxury Master Bath w/NEW Vanity, Sunken Bath-tub, Custom walk-in shower & Walk-in Closet. Laundry is on the Main Floor w/chute from above! UP: 3 Guest Suites all are a GREAT size! Custom Dressing area attached to the Guest Bath w/2 NEW Granite Vanities, Designer Tile Floors, Tub-shower combo w/white subway tile. Backyard is PRIVATE & Fenced! Beautiful Home, Come SEE!
SEE MORE
- 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: Carmel
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Carmel
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,170 |
| EXPENSES | Loan Payment | -$1,605 |
| Property Tax | -$379 | |
| Property Insurance | -$71 | |
| HOA | -$5 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$10
|
||
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.
$435,000
PROJECTED PRICE
$2,170
PROJECTED RENT
0.50%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 5.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$121,025
LOAN DETAILS
$1,605
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $108,750 |
| Loan Amount | $326,250 |
5.58
YEARS SAVED
$31,645
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,170
LIST RENT -
$0.93
LIST RENT PER SQFT
-
$2,326
COMP ESTIMATED VALUE -
$1
COMP AVG. RENT PER SQFT
Comps Range
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4806 Quail Canyon Drive Charlotte, NC 2
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LEASED 04/06/20- Rent
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- $2,300
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4833 Dawnridge Drive Charlotte, NC 4
- 3 beds 3 baths ∙ 2,640 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,640 Sqft ∙ Built 1986
LEASED 01/02/20- Rent
- Rent Per SQFT
- $2,350
- $0.89
-
5733 Connor Boulevard Charlotte, NC 5
- 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 1978
LEASED 08/01/20- Rent
- Rent Per SQFT
- $2,495
- $1.05
PROPERTY LISTING DETAILS
1.803.370.2426
Re/max Executive
