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5020 Briscoe Drive Charlotte, NC 28214

4 Beds 4 Baths 2,565 sqft Built 2020

$319,540

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $124.58
  • 4 Days on Market
  • MLS # : 3678227
  • Updated Date : 11/01/2020 at 15:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,565 sqft
  • Baths : 3 full , 1 half
Listing Agent

Dr Horton Inc

Listing Agent's Description

Belmeade Crossing is DR Horton's newest Charlotte community! Belmeade Crossing is conveniently located off Moores Chapel Rd Exit 12 on I-485 near the Whitewater Center, airport, Riverbend Village Shopping Center, Uptown Charlotte, University area etc.! Rare opportunity for a dual master floor plan! 9' ceilings on the main floor, laminate flooring throughout the main living areas, 36" cabinets in the kitchen w/ granite countertops and subway tile backsplash, over sized island with plenty of space for bar stools. Upstairs features a nice loft, 2nd master suite w/ attached bathroom, spacious secondary bedrooms. Tons of storage in this layout! This home is an incredible value with all the benefits of new construction and a 10 yr. Home Warranty!

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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: Moores Chapel

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Moores Chapel

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
Whitewater Academy Primary Unknown 756 45 NA
Whitewater Middle School Middle Regular 924 53 5
West Mecklenburg High School High Regular 2,040 108 1

Whitewater Academy

  • Education Level: Primary
  • # of students: 756
  • # of teachers: 45
NA
GreatSchools Rating

Whitewater Middle School

  • Education Level: Middle
  • # of students: 924
  • # of teachers: 53
5
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating
 

$287,586$351,494$319,540

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,179
Property Tax -$296
Property Insurance -$75
HOA -$42
Property Management Fees -$171
CASH FLOW
$137

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$319,540

PROJECTED PRICE

$1,900

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 3.00%
Vacancy 6.02%
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$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,678

INVESTMENT

$86,678

Down Payment
$79,885
Rehab Estimate
$2,000
Closing Costs
$4,793

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,179

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,885
Loan Amount $239,655
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$29,309

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,847

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5753$1,6504$1,7455$1,900
$1,900
RENT COMPS ANALYSIS
  • 5020 Briscoe Drive Charlotte, NC 5
    • 4 beds 4 baths ∙ 2,565 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,565 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.74
    •  
  • 10708 Ridge Acres Road Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,240 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,240 Sqft ∙ Built 1997
    property image
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.69
    •  
  • 9419 Kendall Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,262 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,262 Sqft ∙ Built 2017
    property image
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.70
    •  
  • 2444 Sonoma Valley Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2007
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.72
    •  
  • 1244 San Gabriel Avenue Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2016
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.73
    •  
PROPERTY LISTING DETAILS
Haley Courtright
1.704.661.2747
Dr Horton Inc
BESbswy