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PROPERTY INFO
FACTS
- Single Family
- Built In 2014
- Price/Sqft : $120.57
- 3 Days on Market
- MLS # : 3688139
- Updated Date : 12/04/2020 at 20:25
CONSTRUCTION
- Beds : 5
- Floor Size : 3,442 sqft
- Baths : 4 full , 1 half
Listing Agent
Home Team Pros
Listing Agent's Description
Beautiful 5 bedroom 3 story house in Berewick subdivision!! Corner lot with common area. Office downstairs with beautiful custom cabinetry. Hardwood floors through out, two large master bedrooms with large walk in closet and bathroom. Third floor has large living room area and a guest bedroom and a separate bathroom. Outside is a large covered porch-must see! Fast growing area with restaurants, shops! Located near Charlotte Premium Outlets, easy access to 485 and minutes from CLT airport. Subdivision has great amenities such as pool(s) club house and gym!
SEE MORE
- 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: Steele Creek
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Steele Creek
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,350 |
| EXPENSES | Loan Payment | -$1,531 |
| Property Tax | -$371 | |
| Property Insurance | -$92 | |
| HOA | -$67 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$171
|
||
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.
$415,000
PROJECTED PRICE
$2,350
PROJECTED RENT
0.57%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 6.0% |
| 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
$115,725
LOAN DETAILS
$1,531
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $103,750 |
| Loan Amount | $311,250 |
7.67
YEARS SAVED
$47,997
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,350
LIST RENT -
$0.68
LIST RENT PER SQFT
-
$2,375
COMP ESTIMATED VALUE -
$0.69
COMP AVG. RENT PER SQFT
Comps Range
-
5011 Riverdale Drive Charlotte, NC 3
- 5 beds 5 baths ∙ 3,442 Sqft ∙ Built 2014 5 beds 5 baths ∙ 3,442 Sqft ∙ Built 2014
- Rent
- Rent Per SQFT
- $2,350
- $0.68
-
6024 Berewick Commons Parkway Charlotte, NC 1
- 5 beds 4 baths ∙ 3,220 Sqft ∙ Built 2010 5 beds 4 baths ∙ 3,220 Sqft ∙ Built 2010
LEASED 10/20/19- Rent
- Rent Per SQFT
- $2,250
- $0.70
-
6927 Agnew Drive Charlotte, NC 2
- 5 beds 5 baths ∙ 3,300 Sqft ∙ Built 5 beds 5 baths ∙ 3,300 Sqft ∙ Built
LEASED 06/22/20- Rent
- Rent Per SQFT
- $2,295
- $0.70
-
10420 Paisley Abbey Lane Charlotte, NC 4
- 5 beds 5 baths ∙ 3,556 Sqft ∙ Built 2016 5 beds 5 baths ∙ 3,556 Sqft ∙ Built 2016
LEASED 09/09/19- Rent
- Rent Per SQFT
- $2,399
- $0.67
-
10203 Barrands Lane Charlotte, NC 5
- 5 beds 4 baths ∙ 3,638 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,638 Sqft ∙ Built 2006
LEASED 07/26/19- Rent
- Rent Per SQFT
- $2,495
- $0.69
PROPERTY LISTING DETAILS
1.704.606.5700
Home Team Pros
