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5000 Fine Robe Drive Indian Trail, NC 28079

5 Beds 3 Baths 3,120 sqft Built 2005

$347,500

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $111.38
  • 3 Days on Market
  • MLS # : 3686900
  • Updated Date : 11/27/2020 at 10:58
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,120 sqft
  • Baths : 3 full
Listing Agent

Redefy Real Estate

Listing Agent's Description

This one won't last long! Remarkable 2 story gem in the highly sought after community of Crismark! This home boasts 5 bedrooms; 3 full bathrooms; Owner's Suite/Spa with Travertine tile, and a dual walk-in shower and Jacuzzi deep soaker tub; large Kitchen with 42" Maple cabinets, all stainless steel appliances, granite counter-tops, and breakfast/eating area; an Office for the ideal work from home/home schooling space; masterfully laid brick patio pavers; in-ground irrigation; a fenced backyard; and an attached 2 car garage.

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: Crismark

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $118k324k

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

Neighborhood: Crismark

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8441917

* 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
Hemby Bridge Elementary School Primary Regular 496 31 6
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Hemby Bridge Elementary School

  • Education Level: Primary
  • # of students: 496
  • # of teachers: 31
6
GreatSchools Rating

Porter Ridge Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 72
7
GreatSchools Rating

Porter Ridge High School

  • Education Level: High
  • # of students: 1,591
  • # of teachers: 77
7
GreatSchools Rating
 

$312,750$382,250$347,500

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,282
Property Tax -$227
Property Insurance -$86
HOA -$40
Property Management Fees -$164
CASH FLOW
$21

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.

$347,500

PROJECTED PRICE

$1,820

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,838

INVESTMENT

$97,838

Down Payment
$86,875
Rehab Estimate
$5,750
Closing Costs
$5,213

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,282

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,875
Loan Amount $260,625
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$22,846

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.58

    LIST RENT PER SQFT
  • $1,817

    COMP ESTIMATED VALUE
  • $0.58

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6953$1,6984$1,7955$1,820
$1,820
RENT COMPS ANALYSIS
  • 5000 Fine Robe Drive Indian Trail, NC 5
    • 5 beds 3 baths ∙ 3,120 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,120 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.58
    •  
  • 2009 Cornflower Lane Indian Trail, NC 1
    • 5 beds 3 baths ∙ 2,960 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,960 Sqft ∙ Built 2006
    LEASED 07/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.54
    •  
  • 3001 Early Rise Avenue Indian Trail, NC 2
    • 5 beds 4 baths ∙ 2,800 Sqft ∙ Built 2002 5 beds 4 baths ∙ 2,800 Sqft ∙ Built 2002
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.61
    •  
  • 2009 City Lights Drive Indian Trail, NC 3
    • 4 beds 3 baths ∙ 3,150 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,150 Sqft ∙ Built 2007
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,698
    • $0.54
    •  
  • 3027 Early Rise Avenue Indian Trail, NC 4
    • 5 beds 4 baths ∙ 2,797 Sqft ∙ Built 2006 5 beds 4 baths ∙ 2,797 Sqft ∙ Built 2006
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.64
    •  
PROPERTY LISTING DETAILS
Bryan Palluck
1.704.307.5458
Redefy Real Estate
BESbswy