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5013 Banfshire Road Charlotte, NC 28215

3 Beds 2 Baths 1,509 sqft Built 1986

$229,900

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $152.35
  • 7 Days on Market
  • MLS # : 3680193
  • Updated Date : 11/14/2020 at 20:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,509 sqft
  • Baths : 2 full
Listing Agent

The Mac Group Real Estate Advisors

Listing Agent's Description

Come check out this great 3 bed, 2 bath ranch located only a few miles outside of uptown Charlotte. The seller has done so many upgrades including french doors, LVP flooring, tankless water heater and fully fenced backyard to name a few. The home also backs up to Briarwood Park for additional privacy with close proximity to Plaza Midwood and Sugar Creek station. All this in a rapidly appreciating area with no HOA. Property being sold AS-IS. Don't let this one slip by, schedule a showing now and make it your own!

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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: Eastway

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $60k235k

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

Neighborhood: Eastway

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
Briarwood Academy Primary Regular 738 48 3
Martin Luther King Jr Middle School Middle Regular 1,102 57 2
Garinger High School High Regular 1,748 106 NA

Briarwood Academy

  • Education Level: Primary
  • # of students: 738
  • # of teachers: 48
3
GreatSchools Rating

Martin Luther King Jr Middle School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 57
2
GreatSchools Rating

Garinger High School

  • Education Level: High
  • # of students: 1,748
  • # of teachers: 106
NA
GreatSchools Rating
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$848
Property Tax -$200
Property Insurance -$56
Property Management Fees -$114
CASH FLOW
$51

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.

$229,900

PROJECTED PRICE

$1,270

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.9%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$848

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$15,986

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,275

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,2493$1,2504$1,2705$1,275
$1,275
RENT COMPS ANALYSIS
  • 5013 Banfshire Road Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,509 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,509 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.84
    •  
  • 1115 Farrior Drive Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,426 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,426 Sqft ∙ Built 1960
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.81
    •  
  • 3724 Mohawk Street Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 2008
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $0.82
    •  
  • 5819 Ruth Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1965 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1965
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.83
    •  
  • 4117 Howie Circle Charlotte, NC 5
    • 4 beds 1 baths ∙ 1,404 Sqft ∙ Built 1946 4 beds 1 baths ∙ 1,404 Sqft ∙ Built 1946
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.91
    •  
PROPERTY LISTING DETAILS
Rob Zanicchi
1.914.772.8922
The Mac Group Real Estate Advisors
BESbswy