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5107 Grace View Drive Pineville, NC 28134

4 Beds 3 Baths 2,412 sqft Built 2018

$349,900

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $145.07
  • 3 Days on Market
  • MLS # : 3705529
  • Updated Date : 02/06/2021 at 18:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,412 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Executive

Listing Agent's Description

This wonderful home located in the highly sought after Huntley Glen community is a must see! This 4-bedroom home is like new and in wonderful condition. Classic rocking chair front porch. Spacious living areas. Upgraded chefs kitchen with granite counters, stainless appliances and an island with plenty of seating. The office/study is perfect for working from home or relaxing and enjoying the view of the privacy fenced backyard. The upper level features a laundry room, 3 guest bedrooms and a large master bedroom. Walk across the street to the large community common area. Perfect for picnics, kids, pets and lots family fun! Great location convenient to shopping, restaurants, entertainment, Fort Mill, Rock Hill, and all of Charlotte.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Pineville

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $108k251k

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

Neighborhood: Pineville

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8421652

* 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
Pineville Elementary School Primary Regular 811 45 7
Quail Hollow Middle School Middle Regular 946 51 3
South Mecklenburg High School High Regular 2,913 147 7

Pineville Elementary School

  • Education Level: Primary
  • # of students: 811
  • # of teachers: 45
7
GreatSchools Rating

Quail Hollow Middle School

  • Education Level: Middle
  • # of students: 946
  • # of teachers: 51
3
GreatSchools Rating

South Mecklenburg High School

  • Education Level: High
  • # of students: 2,913
  • # of teachers: 147
7
GreatSchools Rating
 

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

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,215
Property Tax -$293
Property Insurance -$73
HOA -$29
Property Management Fees -$119
CASH FLOW
$261

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.

$349,900

PROJECTED PRICE

$1,990

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 9.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
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$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 35% 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

8.75

YEARS SAVED

$42,465

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,984

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9503$1,9504$1,9905$2,195
$2,195
RENT COMPS ANALYSIS
  • 5107 Grace View Drive Pineville, NC 4
    • 4 beds 3 baths ∙ 2,412 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,412 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.83
    •  
  • 12020 Virginia Pine Lane Pineville, NC 1
    • 4 beds 3 baths ∙ 2,288 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,288 Sqft ∙ Built 2012
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.81
    •  
  • 14425 Green Birch Drive Pineville, NC 2
    • 4 beds 3 baths ∙ 2,378 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,378 Sqft ∙ Built 2012
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.82
    •  
  • 2212 Atwell Glen Lane Pineville, NC 3
    • 4 beds 3 baths ∙ 2,411 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,411 Sqft ∙ Built 2015
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.81
    •  
  • 2029 Atwell Glen Lane Pineville, NC 5
    • 4 beds 3 baths ∙ 2,589 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,589 Sqft ∙ Built 2016
    property image
    LEASED 12/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.85
    •  
PROPERTY LISTING DETAILS
Hans Wormley
1.704.907.4830
Re/max Executive
BESbswy