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4844 Tewkesbury Road Charlotte, NC 28269

3 Beds 3 Baths 1,664 sqft Built 1981

$224,900

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $135.16
  • 2 Days on Market
  • MLS # : 3706027
  • Updated Date : 02/06/2021 at 11:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,664 sqft
  • Baths : 2 full , 1 half
Listing Agent

Paraven Properties

Listing Agent's Description

Nice corner lot with huge fenced backyard. Rear two car attached carport, beautiful brick fireplace in family room. Nice floorplan. Large bedrooms. Extra long extended driveway. Wood floors throughout. Close to downtown and lightrail. Owner in process of moving furniture. Dining room is temporarily being used as a bedroom with sliding farm doors.

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: Derita - Statesville

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Derita - Statesville

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771518

* 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
Governors' Village Stem Academy Lower Campus Primary Regular 815 53 4
Vance High School High Regular 1,714 91 3
Governors' Village Stem Academy Lower Campus Primary Unknown NA

Governors' Village Stem Academy Lower Campus

  • Education Level: Primary
  • # of students: 815
  • # of teachers: 53
4
GreatSchools Rating

Vance High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 91
3
GreatSchools Rating

Governors' Village Stem Academy Lower Campus

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$202,410$247,390$224,900

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 -$781
Property Tax -$196
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$295

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.

$224,900

PROJECTED PRICE

$1,450

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$781

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

11.67

YEARS SAVED

$41,059

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
  • $0.87

    LIST RENT PER SQFT
  • $1,431

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,4503$1,700
$1,700
RENT COMPS ANALYSIS
  • 4844 Tewkesbury Road Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,664 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,664 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.87
    •  
  • 2300 Olando Street Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 3 beds 2 baths ∙ 1,345 Sqft ∙ Built
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.86
    •  
  • 601 Grandin Road Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,972 Sqft ∙ Built 1936 3 beds 2 baths ∙ 1,972 Sqft ∙ Built 1936
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.86
    •  
PROPERTY LISTING DETAILS
Sherron Mcneil Mobley
1.704.458.9713
Paraven Properties
BESbswy