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5020 Shadbush Road Charlotte, NC 28215

3 Beds 3 Baths 2,151 sqft Built 2020

$328,900

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $152.91
  • 55 Days on Market
  • MLS # : 3674844
  • Updated Date : 12/11/2020 at 15:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,151 sqft
  • Baths : 2 full , 1 half
Listing Agent

Meritage Homes Of The Carolina

Listing Agent's Description

Brand NEW energy-efficient home ready January 2021! Prepare dinner at the Garrison kitchen island overlooking the great room. Upstairs, the private primary suite offers a large walk-in closet. Slate cabinets, ice white quartz countertops, cool grey EVP flooring with grey-brown carpet in our Distinct package. Conveniently located off I-485 and near downtown Mint Hill, Larkhaven Hills will soon feature a clubhouse and community pool. Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.

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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: Bradfield Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230kPrice in $113k235k

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

Neighborhood: Bradfield Farms

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
Clear Creek Elementary School Primary Regular 647 37 6
Northeast Middle School Middle Regular 739 45 3
Rocky River High School High Regular 1,710 90 3

Clear Creek Elementary School

  • Education Level: Primary
  • # of students: 647
  • # of teachers: 37
6
GreatSchools Rating

Northeast Middle School

  • Education Level: Middle
  • # of students: 739
  • # of teachers: 45
3
GreatSchools Rating

Rocky River High School

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

$296,010$361,790$328,900

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,214
Property Tax -$308
Property Insurance -$68
HOA -$75
Property Management Fees -$119
CASH FLOW
-$123

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.

$328,900

PROJECTED PRICE

$1,660

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.9%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,159

INVESTMENT

$89,159

Down Payment
$82,225
Rehab Estimate
$2,000
Closing Costs
$4,934

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,225
Loan Amount $246,675
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$10,454

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,678

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,6504$1,6605$1,725
$1,725
RENT COMPS ANALYSIS
  • 5020 Shadbush Road Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,151 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,151 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.77
    •  
  • 5507 Whisperfield Lane Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 1997
    property image
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.77
    •  
  • 7010 Duchamp Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,024 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,024 Sqft ∙ Built 1997
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.74
    •  
  • 12926 Longstraw Road Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2015
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.73
    •  
  • 10111 Windtree Lane Charlotte, NC 5
    • 3 beds 3 baths ∙ 2,083 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,083 Sqft ∙ Built 1997
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.83
    •  
PROPERTY LISTING DETAILS
Jimmy Mcclurg
1.704.969.0153
Meritage Homes Of The Carolina
BESbswy