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5045 Dogwood Place Charlotte, NC 28212

3 Beds 1 Baths 1,514 sqft Built 1958

$250,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1958
  • Price/Sqft : $165.13
  • 12 Days on Market
  • MLS # : 3675681
  • Updated Date : 10/24/2020 at 13:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,514 sqft
  • Baths : 1 full
Listing Agent

Regal Carolinas Homes Inc

Listing Agent's Description

Beautiful Cozy ranch sitting on almost half an acre in a quiet neighborhood! Renovated for its new owner! Spacious fenced backyard with TWO storage sheds! Brnd new AC unit, new roof, remodeled kitchen featuring stainless steel appliances and granite counter tops, bathroom and tons of improvents that will make this home your dream home! And no HOA!!!! This house has an exellent rental history and can be used as an Airbnb lisitng with proven history and great ratings

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

Neighborhood: Farm Pond

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Farm Pond

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
Lawrence Orr Elementary School Primary Regular NA
Cochrane Collegiate Academy Middle Regular 702 48 2
Cochrane Collegiate Academy High Regular 702 48 2

Lawrence Orr Elementary School

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

Cochrane Collegiate Academy

  • Education Level: Middle
  • # of students: 702
  • # of teachers: 48
2
GreatSchools Rating

Cochrane Collegiate Academy

  • Education Level: High
  • # of students: 702
  • # of teachers: 48
2
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$922
Property Tax -$218
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$7

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.

$250,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.7%
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$600k$700k$800k$900k

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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$13,079

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,360

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,320
1$1,3202$1,3503$1,3754$1,4505$1,550
$1,550
RENT COMPS ANALYSIS
  • 5045 Dogwood Place Charlotte, NC 1
    • 3 beds 1 baths ∙ 1,443 Sqft ∙ Built 1958 3 beds 1 baths ∙ 1,443 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.91
    •  
  • 6820 Barcliff Drive Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1974
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.96
    •  
  • 6825 Parkers Crossing Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2004
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.92
    •  
  • 6844 Parkers Crossing Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 1,600 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,600 Sqft ∙ Built 2004
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
  • 7607 Eastbourne Road Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1984
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.98
    •  
PROPERTY LISTING DETAILS
Alla Rizayev
1.704.502.5992
Regal Carolinas Homes Inc
BESbswy