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5018 Merwyn Avenue #58 Charlotte, NC 28215

4 Beds 3 Baths 1,903 sqft Built 2020

$285,990

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $150.28
  • 6 Days on Market
  • MLS # : 3677524
  • Updated Date : 10/29/2020 at 08:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,903 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nvr Homes, Inc./ryan Homes

Listing Agent's Description

This home feels welcoming and elegant, but at the same time smart and functional. No need to sacrifice beauty for convenience – this floor plan gives you all that and more. The foyer leads into a great room that flows into a large open kitchen and dining space. An island provides more work space and seating! A short hall leads to a convenient powder room, a large coat closet, and a flex room you can use any way you need – a home office, hobby room, or extra play space. Upstairs the luxury continues with 4 large bedrooms, three of which boast walk-in closets. The laundry room is oversized to accommodate your needs, and the light-filled upper hall even boasts a small space perfect for a planning desk or reading nook. Off the stair nook, the owner’s bedroom features lots of living area, a huge walk-in closet, and a private bath. All appliances included Electric Range, Microwave, Dishwasher, Refrigerator, and Washer & Dryer. To- Be- Built.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Silverwood

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230kPrice in $113k235k

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

Neighborhood: Silverwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8421518

* 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
Joseph W. Grier Academy Primary Regular 789 50 3
Northridge Middle School Middle Regular 779 43 3
Rocky River High School High Regular 1,710 90 3

Joseph W. Grier Academy

  • Education Level: Primary
  • # of students: 789
  • # of teachers: 50
3
GreatSchools Rating

Northridge Middle School

  • Education Level: Middle
  • # of students: 779
  • # of teachers: 43
3
GreatSchools Rating

Rocky River High School

  • Education Level: High
  • # of students: 1,710
  • # of teachers: 90
3
GreatSchools Rating
 

$257,391$314,589$285,990

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,055
Property Tax -$268
Property Insurance -$63
Property Management Fees -$138
CASH FLOW
$7

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$285,990

PROJECTED PRICE

$1,530

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 3.00%
Vacancy 6.57%
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

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$77,787

INVESTMENT

$77,787

Down Payment
$71,498
Rehab Estimate
$2,000
Closing Costs
$4,290

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,055

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,498
Loan Amount $214,493
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$14,248

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,461

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,349
1$1,3492$1,4003$1,4454$1,4755$1,530
$1,530
RENT COMPS ANALYSIS
  • 5018 Merwyn Avenue Charlotte, NC 5
    • 4 beds 3 baths ∙ 1,903 Sqft ∙ Built 2020 4 beds 3 baths ∙ 1,903 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.80
    •  
  • 6931 Robinson Church Road Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 1955
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.75
    •  
  • 6911 Lakeside Drive Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 1956
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.73
    •  
  • 9537 Weikert Road Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,948 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,948 Sqft ∙ Built 2018
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.74
    •  
  • 7004 Amberly Hills Road Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2018
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.82
    •  
PROPERTY LISTING DETAILS
Jerry Smith
1.704.610.5282
Nvr Homes, Inc./ryan Homes
BESbswy