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4933 Jane Avenue Charlotte, NC 28269

3 Beds 1 Baths 1,456 sqft Built 1963

$200,000

List Price

$1,160

$1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $137.36
  • 3 Days on Market
  • MLS # : 3719942
  • Updated Date : 03/20/2021 at 19:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,456 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Select

Listing Agent's Description

This beautiful brick home in Charlotte is ready for it new owners! Convenient location close to highway 85. Fully fenced in back yard. Spacious kitchen with updated appliances. No HOA!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Nevin Community

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Nevin Community

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
Winding Springs Elementary School Primary Regular 859 60 3
James Martin Middle School Middle Regular 1,113 54 3
North Mecklenburg High School High Regular 1,881 101 3

Winding Springs Elementary School

  • Education Level: Primary
  • # of students: 859
  • # of teachers: 60
3
GreatSchools Rating

James Martin Middle School

  • Education Level: Middle
  • # of students: 1,113
  • # of teachers: 54
3
GreatSchools Rating

North Mecklenburg High School

  • Education Level: High
  • # of students: 1,881
  • # of teachers: 101
3
GreatSchools Rating
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,044$1,276$1,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,160
EXPENSES Loan Payment -$695
Property Tax -$174
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$117

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.

$200,000

PROJECTED PRICE

$1,160

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.3%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$695

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$21,318

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,160

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,267

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,160
1$1,1602$1,1993$1,2504$1,2995$1,400
$1,400
RENT COMPS ANALYSIS
  • 4933 Jane Avenue Charlotte, NC 1
    • 3 beds 1 baths ∙ 1,456 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,456 Sqft ∙ Built 1963
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,160
    • $0.80
    •  
  • 4629 Brenda Court Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1982
    property image
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,199
    • $0.76
    •  
  • 5102 Elizabeth Road Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2002
    property image
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.84
    •  
  • 5118 Cross Street Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 2004
    property image
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.91
    •  
  • 2730 Cochrane Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 1,612 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,612 Sqft ∙ Built 2005
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.87
    •  
PROPERTY LISTING DETAILS
Morgan Mayfield
1.980.290.0195
Keller Williams Select
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3719942
Last Updated: 03/20/2021
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