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5084 Cramer Woods Drive Gastonia, NC 28056

5 Beds 3 Baths 2,824 sqft Built 2004

$459,900

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
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

MARKET HIGHLIGHTS

  • 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

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
 

$413,910$505,890$459,900

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

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

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$1.4M

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$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,624

INVESTMENT

$127,624

Down Payment
$114,975
Rehab Estimate
$5,750
Closing Costs
$6,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,597

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $114,975
Loan Amount $344,925
See What Happens When You Reinvest Cash Flow

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
$2,075
1$2,0752$2,0753$2,1254$2,280
$2,280
RENT COMPS ANALYSIS
  • 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
Matthew Hanks
1.704.850.6818
Exp Realty Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3705805
Last Updated: 02/25/2021
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