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PROPERTY INFO
FACTS
- Single Family
- Built In 1992
- Price/Sqft : $153.10
- 3 Days on Market
- MLS # : 3708047
- Updated Date : 02/12/2021 at 19:05
CONSTRUCTION
- Beds : 3
- Floor Size : 2,482 sqft
- Baths : 2 full , 1 half
Listing Agent
Seller's Resource Group
Listing Agent's Description
Beautiful Brick 2 Story Home on a peaceful, wooded tranquil lot with meandering creek in an Established, Desirable Northeast Charlotte Neighborhood. This lovely home boasts 3 Bedrooms and 2.5 Baths, Bonus Room over Garage, perfect for Office, or Rec Room, Laundry Room with Updated Cabinets and Floor, Updated, Fresh Half-Bath, Family Room with Brick Fireplace, New Gas Log Insert and Wood Floors. The Kitchen has Updated Cabinets, Granite Counters, Flooring and Appliances. Breakfast Area, Dining Room, with Hardwood Floors and Living Room, are freshly painted. The 2nd Floor Features a Master Suite with Updated Cabinets, Lighting, Beautiful Ceramic Tile Shower, with Glass Enclosure, Marble Floors, and Soaker Tub for Maximum Relaxation. Freshly Painted Inside and Out, This Beautiful Home Boasts a New Deck off the Breakfast Area and a New Roof (2020). This Lovely Home Sits on A Quiet Cul-de-Sac, with Pool, Tennis and clubhouse. This Home is a Must See!
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
Neighborhood: Back Creek Church Road
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Back Creek Church Road
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,100 |
| EXPENSES | Loan Payment | -$1,320 |
| Property Tax | -$356 | |
| Property Insurance | -$74 | |
| HOA | -$55 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$177
|
||
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.
$380,000
PROJECTED PRICE
$2,100
PROJECTED RENT
0.55%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 7.4% |
| 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
$106,450
LOAN DETAILS
$1,320
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $95,000 |
| Loan Amount | $285,000 |
7.83
YEARS SAVED
$38,799
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,100
LIST RENT -
$0.85
LIST RENT PER SQFT
-
$2,153
COMP ESTIMATED VALUE -
$0.87
COMP AVG. RENT PER SQFT
Comps Range
-
5103 Witham Pass Charlotte, NC 5
- 3 beds 3 baths ∙ 2,482 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,482 Sqft ∙ Built 1992
- Rent
- Rent Per SQFT
- $2,100
- $0.85
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12161 Old Dulin Farms Way Charlotte, NC 1
- 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 2020
LEASED 12/11/20- Rent
- Rent Per SQFT
- $1,875
- $0.86
-
12124 Old Dulin Farms Way Charlotte, NC 2
- 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 2020
LEASED 01/19/21- Rent
- Rent Per SQFT
- $1,895
- $0.87
-
12150 Old Dulin Farms Way Charlotte, NC 3
- 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 2020
LEASED 11/20/20- Rent
- Rent Per SQFT
- $1,945
- $0.89
-
12125 Old Dulin Farms Way Charlotte, NC 4
- 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 2020
LEASED 08/26/20- Rent
- Rent Per SQFT
- $2,085
- $0.96
PROPERTY LISTING DETAILS
1.828.505.0960
Seller's Resource Group
