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5083 Cramer Woods Drive Gastonia, NC 28056

4 Beds 3 Baths 2,568 sqft Built 2000

$349,900

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $136.25
  • 11 Days on Market
  • MLS # : 3698764
  • Updated Date : 01/22/2021 at 14:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,568 sqft
  • Baths : 3 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Beautiful Cramer Woods full brick home located with in the cul-de-sac is a must see! The front porch is quaint and it leads into a two-story foyer. The office is located to the right. Dining room is right off of the kitchen with tile floor and the poly stone countertops. The cherry cabinets are just beautiful. There is bar seating and a breakfast nook with a pantry. The outdoor space is an entertainer’s dream with several different areas for seating on the deck. The yard is spacious for kids or dog to play. You could even plant a garden! There is a downstairs bedroom and full bath and a living room. Upstairs there are three bedrooms including the master two baths and a bonus space. The master is an on suite with a walk-in closet and a bathroom that has a standup shower and a tub. The bonus room is great and perfect for a workout area a flex space or a fourth bedroom. Call us today for more information on this gem!

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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: Cramer Woods

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $81k424k

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

Neighborhood: Cramer Woods

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700180019002000Rent in $6902087

* 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
New Hope Elementary School Primary Regular 542 27 7
Cramerton Middle School Middle Regular 833 42 8
South Point High School High Regular 1,101 61 6

New Hope Elementary School

  • Education Level: Primary
  • # of students: 542
  • # of teachers: 27
7
GreatSchools Rating

Cramerton Middle School

  • Education Level: Middle
  • # of students: 833
  • # of teachers: 42
8
GreatSchools Rating

South Point High School

  • Education Level: High
  • # of students: 1,101
  • # of teachers: 61
6
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,215
Property Tax -$290
Property Insurance -$76
HOA -$15
Property Management Fees -$119
CASH FLOW
$195

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.

$349,900

PROJECTED PRICE

$1,910

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$40,070

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,016

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,9103$2,0754$2,0755$2,125
$2,125
RENT COMPS ANALYSIS
  • 5083 Cramer Woods Drive Gastonia, NC 2
    • 4 beds 3 baths ∙ 2,568 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,568 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.74
    •  
  • 6161 Rosemore Lane Gastonia, NC 1
    • 4 beds 3 baths ∙ 2,366 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,366 Sqft ∙ Built 2019
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.79
    •  
  • 4918 Trayton Avenue Gastonia, NC 3
    • 5 beds 4 baths ∙ 2,698 Sqft ∙ Built 2019 5 beds 4 baths ∙ 2,698 Sqft ∙ Built 2019
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.77
    •  
  • 4911 Trayton Avenue Gastonia, NC 4
    • 5 beds 4 baths ∙ 2,698 Sqft ∙ Built 2019 5 beds 4 baths ∙ 2,698 Sqft ∙ Built 2019
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.77
    •  
  • 6177 Rosemore Lane Gastonia, NC 5
    • 5 beds 4 baths ∙ 2,698 Sqft ∙ Built 2019 5 beds 4 baths ∙ 2,698 Sqft ∙ Built 2019
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $0.79
    •  
PROPERTY LISTING DETAILS
Matthew Hanks
1.704.850.6818
Exp Realty Llc
BESbswy