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5108 Briscoe Drive Charlotte, NC 28214

4 Beds 2 Baths 1,764 sqft Built 2020

$294,050

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $166.70
  • 21 Days on Market
  • MLS # : 3682921
  • Updated Date : 12/04/2020 at 13:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,764 sqft
  • Baths : 2 full
Listing Agent

Dr Horton Inc

Listing Agent's Description

Brand new community! Belmeade Crossing is located off Moores Chapel Rd. Exit 12 on I-485 near the Whitewater Center, airport, Riverbend Village Shopping Center, Uptown Charlotte, University area etc! This home is an incredible value with all the benefits of new construction and a 10 yr. Home Warranty! Home Is Connected? includes programmable thermostat, Z-Wave door lock and wireless switch, touchscreen control device, automation platform, video doorbell, and Amazon Echo and Echo Dot. All home features are subject to change without notice. Internet service not included.

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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: Moores Chapel

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Moores Chapel

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771518

* 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
Whitewater Academy Primary Unknown 756 45 NA
Whitewater Middle School Middle Regular 924 53 5
West Mecklenburg High School High Regular 2,040 108 1

Whitewater Academy

  • Education Level: Primary
  • # of students: 756
  • # of teachers: 45
NA
GreatSchools Rating

Whitewater Middle School

  • Education Level: Middle
  • # of students: 924
  • # of teachers: 53
5
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating
 

$264,645$323,455$294,050

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,085
Property Tax -$273
Property Insurance -$60
HOA -$42
Property Management Fees -$119
CASH FLOW
-$109

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$294,050

PROJECTED PRICE

$1,470

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 3.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,923

INVESTMENT

$79,923

Down Payment
$73,513
Rehab Estimate
$2,000
Closing Costs
$4,411

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,085

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,513
Loan Amount $220,538
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$10,218

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,442

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,299
1$1,2992$1,3503$1,4004$1,4705$1,625
$1,625
RENT COMPS ANALYSIS
  • 5104 Briscoe Drive Charlotte, NC 4
    • 4 beds 2 baths ∙ 1,764 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,764 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.83
    •  
  • 661 Tribune Drive Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,548 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,548 Sqft ∙ Built 2006
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.84
    •  
  • 2805 Belmeade Drive Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1963
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.80
    •  
  • 749 Lumber Lane Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,730 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,730 Sqft ∙ Built 2007
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.81
    •  
  • 9433 Turning Wheel Drive Charlotte, NC 5
    • 4 beds 4 baths ∙ 1,988 Sqft ∙ Built 2011 4 beds 4 baths ∙ 1,988 Sqft ∙ Built 2011
    LEASED 07/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.82
    •  
PROPERTY LISTING DETAILS
Haley Courtright
1.704.661.2747
Dr Horton Inc
BESbswy