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PROPERTY INFO
FACTS
- Single Family
- Built In 1945
- Price/Sqft : $87.44
- 3 Days on Market
- MLS # : 3692072
- Updated Date : 12/19/2020 at 16:43
CONSTRUCTION
- Beds : 3
- Floor Size : 1,258 sqft
- Baths : 2 full
Listing Agent
Keller Williams South Park
Listing Agent's Description
Great opportunity for investment with this property. Property being sold "AS IS". Sellers will not make any repairs. New roof installed in 2020. Agents, please be careful when walking through the home. There is no power to the home so please schedule showings on daylight hours.
SEE MORE
- 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
Zip Code: 28625
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28625
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $950 |
| EXPENSES | Loan Payment | -$406 |
| Property Tax | -$97 | |
| Property Insurance | -$51 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$277
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.
$110,000
PROJECTED PRICE
$950
PROJECTED RENT
0.86%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 2.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| 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
$34,900
LOAN DETAILS
$406
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $27,500 |
| Loan Amount | $82,500 |
15.58
YEARS SAVED
$32,905
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$950
LIST RENT -
$0.76
LIST RENT PER SQFT
-
$1,044
COMP ESTIMATED VALUE -
$0.83
COMP AVG. RENT PER SQFT
Comps Range
-
509 Eastside Drive Statesville, NC 1
- 3 beds 2 baths ∙ 1,258 Sqft ∙ Built 1945 3 beds 2 baths ∙ 1,258 Sqft ∙ Built 1945
- Rent
- Rent Per SQFT
- $950
- $0.76
-
1903 Lucille Street Statesville, NC 2
- 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1969
LEASED 11/19/19- Rent
- Rent Per SQFT
- $1,100
- $0.83
-
607 Salisbury Road Statesville, NC 3
- 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1949
LEASED 09/27/20- Rent
- Rent Per SQFT
- $1,150
- $0.77
-
1927 Joe Road Statesville, NC 4
- 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 1964
LEASED 10/26/20- Rent
- Rent Per SQFT
- $1,290
- $0.81
-
363 Brookfield Drive Statesville, NC 5
- 3 beds 3 baths ∙ 1,518 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,518 Sqft ∙ Built 2008
LEASED 10/12/20- Rent
- Rent Per SQFT
- $1,375
- $0.91
PROPERTY LISTING DETAILS
1.704.352.2060
Keller Williams South Park
