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5040 Broad Leaf Court Dallas, NC 28034

3 Beds 2 Baths 1,130 sqft Built 2010

$174,999

List Price

$1,080

$972 - $1.2K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2010
  • Price/Sqft : $154.87
  • 5 Days on Market
  • MLS # : 3678484
  • Updated Date : 11/06/2020 at 13:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,130 sqft
  • Baths : 2 full
Listing Agent

Wilkinson Era Real Estate

Listing Agent's Description

Jump on this rare opportunity to own a 1 story home in Alder Ridge! Immaculate, pet-free home in quaint neighborhood. FRESH PAINT and NEW floors throughout (wood vinyl in main living areas, carpet in all bedrooms, and vinyl floors in both bathrooms). Kitchen with ample cabinets, NEW faux granite counters and updated light fixture. Owner's bedroom with walk-in closet and en-suite bathroom with NEW sink cabinet. Secondary bedrooms have a full bath to share. Flat, tree-lined back yard. Outdoor closet is perfect for storing seasonal items, tools, etc. Security cameras will convey.

SEE MORE

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

Zip Code: 28034

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k213k

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

Zip Code: 28034

ZipNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300Rent in $6411375

* 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
Carr Elementary School Primary Regular 647 40 5
W.c. Friday Middle School Middle Regular 687 38 4
North Gaston High School High Regular 1,095 60 3

Carr Elementary School

  • Education Level: Primary
  • # of students: 647
  • # of teachers: 40
5
GreatSchools Rating

W.c. Friday Middle School

  • Education Level: Middle
  • # of students: 687
  • # of teachers: 38
4
GreatSchools Rating

North Gaston High School

  • Education Level: High
  • # of students: 1,095
  • # of teachers: 60
3
GreatSchools Rating
 

$157,499$192,499$174,999

PURCHASE PRICE

$972$1,188$1,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,080
EXPENSES Loan Payment -$646
Property Tax -$134
Property Insurance -$48
HOA -$14
Property Management Fees -$97
CASH FLOW
$140

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.

$174,999

PROJECTED PRICE

$1,080

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 3.6%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$646

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,750
Loan Amount $131,249
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$22,798

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,080

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $864

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$850
1$8502$9503$1,080
$1,080
RENT COMPS ANALYSIS
  • 5040 Broad Leaf Court Dallas, NC 3
    • 3 beds 2 baths ∙ 1,130 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,130 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,080
    • $0.96
    •  
  • 505 Friday Park Road Dallas, NC 1
    • 3 beds 1 baths ∙ 1,102 Sqft ∙ Built 1947 3 beds 1 baths ∙ 1,102 Sqft ∙ Built 1947
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $0.77
    •  
  • 1134 Green Circle Drive Gastonia, NC 2
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1955
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.76
    •  
PROPERTY LISTING DETAILS
Lisa Quinn
1.704.953.3484
Wilkinson Era Real Estate
BESbswy