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5001 Baylor Drive Charlotte, NC 28210

3 Beds 1 Baths 1,186 sqft Built 1955

$340,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $286.68
  • 12 Days on Market
  • MLS # : 3698388
  • Updated Date : 01/21/2021 at 12:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,186 sqft
  • Baths : 1 full
Listing Agent

Stephen Cooley Real Estate Group

Listing Agent's Description

Welcome to this adorable bungalow in the hot neighborhood of Madison Park. This home features 3 bedrooms and a full updated bathroom, hardwood flooring, spacious kitchen, dining area and a living room with abundant natural light. A fabulous laundry room with a sink, cabinetry and folding area. Large flat, fenced back yard. The home was just freshly painted. The roof, plumbing and electrical systems were replaced in 2020. A gas line was added for a gas stove in 2018 and the furnace replaced in 2015. New tankless hot water heater. One of the best locations in the area. Close to South Park, Park Road Shopping Center, easily accessible to highways and Park Road for Uptown or Ballantyne commutes.

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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,181
Property Tax -$307
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
-$137

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.

$340,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.45%

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$10,684

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $1,539

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4503$1,5204$1,6005$1,750
$1,750
RENT COMPS ANALYSIS
  • 5001 Baylor Drive Charlotte, NC 3
    • 3 beds 1 baths ∙ 1,186 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,186 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.28
    •  
  • 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
    •  
  • 614 Cooper Drive Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1961
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.31
    •  
  • 4829 Murrayhill Road Charlotte, NC 5
    • 4 beds 2 baths ∙ 1,260 Sqft ∙ Built 1952 4 beds 2 baths ∙ 1,260 Sqft ∙ Built 1952
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.39
    •  
PROPERTY LISTING DETAILS
Stephen Cooley
1.803.985.1240
Stephen Cooley Real Estate Group
BESbswy