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PROPERTY INFO
FACTS
- Single Family
- Built In 2002
- Price/Sqft : $147.75
- 50 Days on Market
- MLS # : 3695049
- Updated Date : 02/20/2021 at 14:13
CONSTRUCTION
- Beds : 4
- Floor Size : 1,692 sqft
- Baths : 2 full , 1 half
Listing Agent
Jahar Asad Llc
Listing Agent's Description
Perfectly Remodeled, vacant, and ready for your family! Immaculate, open, bright, and airy 4 bedrooms, 2 story home on a corner lot. We thought it would be wonderful to present you the opportunity to purchase a Home already inspected and entirely renovated. This 1692 square foot single family home has 4 bedrooms, 2.5 bathrooms, and a parking garage. In addition to the “Cosmetic renovation”, we installed brand-new stainless-steel appliances (refrigerator, dishwasher, stove, and microwave), oak wood bathroom vanities, new flooring, new carpet, new light fixtures, new garage door, granite countertop in both kitchen and bathrooms, new HVAC, and water heater. We are scheduled to start showings on 2/25/2021. please submit your best offer by 7pm, 2/28/2021.
SEE MORE
- 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: West Sugar Creek
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: West Sugar Creek
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,400 |
| EXPENSES | Loan Payment | -$868 |
| Property Tax | -$218 | |
| Property Insurance | -$59 | |
| HOA | -$14 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$122
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.
$250,000
PROJECTED PRICE
$1,400
PROJECTED RENT
0.56%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 8.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| 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
$72,000
LOAN DETAILS
$868
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $62,500 |
| Loan Amount | $187,500 |
7.5
YEARS SAVED
$23,517
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,400
LIST RENT -
$0.83
LIST RENT PER SQFT
-
$1,358
COMP ESTIMATED VALUE -
$0.8
COMP AVG. RENT PER SQFT
Comps Range
-
5024 Deerton Road Charlotte, NC 3
- 4 beds 3 baths ∙ 1,692 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,692 Sqft ∙ Built 2002
![property image]()
- Rent
- Rent Per SQFT
- $1,400
- $0.83
-
5102 Elizabeth Road Charlotte, NC 1
- 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2002
![property image]()
LEASED 12/31/19- Rent
- Rent Per SQFT
- $1,250
- $0.84
-
4640 Belmar Place Road Charlotte, NC 2
- 3 beds 4 baths ∙ 1,828 Sqft ∙ Built 2009 3 beds 4 baths ∙ 1,828 Sqft ∙ Built 2009
![property image]()
LEASED 04/07/20- Rent
- Rent Per SQFT
- $1,395
- $0.76
-
3516 Ribbonwalk Trail Charlotte, NC 4
- 3 beds 3 baths ∙ 1,890 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,890 Sqft ∙ Built 2018
![property image]()
LEASED 05/20/20- Rent
- Rent Per SQFT
- $1,495
- $0.79
-
3632 Ribbonwalk Trail Charlotte, NC 5
- 4 beds 3 baths ∙ 1,824 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,824 Sqft ∙ Built 2007
![property image]()
LEASED 08/25/20- Rent
- Rent Per SQFT
- $1,495
- $0.82
PROPERTY LISTING DETAILS
1.919.408.4001
Jahar Asad Llc
MLS #: 3695049
Last Updated: 02/20/2021
