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PROPERTY INFO
FACTS
- Single Family
- Built In 2004
- Price/Sqft : $162.85
- 18 Days on Market
- MLS # : 3705805
- Updated Date : 02/25/2021 at 09:36
CONSTRUCTION
- Beds : 5
- Floor Size : 2,824 sqft
- Baths : 3 full
Listing Agent
Exp Realty Llc
Listing Agent's Description
Tucked away in the sought-after neighborhood of Cramer Woods, this home is minutes from grocery and dining. It is located in a cul-de-sac which is perfect for pets and play. Large master bedroom is located on the main level with an en-suite including water closet and walk-in closet. A second bedroom and a full bathroom are also located on the main level. The dining room is just off the foyer and is perfect for entertaining. Around the corner you will find the breakfast nook area with custom built-ins for extra prep space and storage. The kitchen boasts plenty of cabinets and counter space with bar stool seating. Large deck overlooks the beautiful fenced-in backyard that is complemented with a she-shed/storage building just outside the fence. Enormous unfinished basement has unlimited potential and opens out to the backyard. Jack N Jill bath upstairs with 3 large bedrooms–one that could be used as a bonus room based on your family dynamic. This property will not last long!
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Cramer Woods
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Cramer Woods
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,280 |
| EXPENSES | Loan Payment | -$1,597 |
| Property Tax | -$381 | |
| Property Insurance | -$80 | |
| HOA | -$15 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$86
|
||
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.
$459,900
PROJECTED PRICE
$2,280
PROJECTED RENT
0.50%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$127,624
LOAN DETAILS
$1,597
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $114,975 |
| Loan Amount | $344,925 |
6.58
YEARS SAVED
$35,996
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,280
LIST RENT -
$0.81
LIST RENT PER SQFT
-
$2,212
COMP ESTIMATED VALUE -
$0.78
COMP AVG. RENT PER SQFT
Comps Range
-
5084 Cramer Woods Drive Gastonia, NC 4
- 5 beds 3 baths ∙ 2,824 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,824 Sqft ∙ Built 2004
- Rent
- Rent Per SQFT
- $2,280
- $0.81
-
4918 Trayton Avenue Gastonia, NC 1
- 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 2
- 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 3
- 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
1.704.850.6818
Exp Realty Llc
MLS #: 3705805
Last Updated: 02/25/2021
