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5139 Downhaul Drive #163 Charlotte, NC 28269

4 Beds 3 Baths 1,900 sqft Built 2021

$293,990

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $154.73
  • 3 Days on Market
  • MLS # : 3697013
  • Updated Date : 01/08/2021 at 20:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,900 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nvr Homes, Inc./ryan Homes

Listing Agent's Description

Spacious floorplan with an open concept design on the main floor. The kitchen, dinette, and great room are all open. Off to the side is a powder room and flex room that can be an office or study. Upstairs are 4 bedrooms including an Owner's suite with an ensuite bath and walk-in closet. There's also a hall bath and a laundry center. All appliances included! Serene community with 2 lakes, while still convenient to I-85 and I-77. Seller will contribute $5,000 towards closing costs with the use of our preferred lender. To be built.

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: Hamilton Circle

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Hamilton Circle

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
Statesville Road Elementary School Primary Regular 561 39 4
Ranson Middle School Middle Regular 1,138 57 3
West Charlotte High School High Regular 1,777 109 3

Statesville Road Elementary School

  • Education Level: Primary
  • # of students: 561
  • # of teachers: 39
4
GreatSchools Rating

Ranson Middle School

  • Education Level: Middle
  • # of students: 1,138
  • # of teachers: 57
3
GreatSchools Rating

West Charlotte High School

  • Education Level: High
  • # of students: 1,777
  • # of teachers: 109
3
GreatSchools Rating
 

$264,591$323,389$293,990

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,021
Property Tax -$272
Property Insurance -$63
HOA -$29
Property Management Fees -$119
CASH FLOW
$6

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.

$293,990

PROJECTED PRICE

$1,510

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.2%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,907

INVESTMENT

$79,907

Down Payment
$73,498
Rehab Estimate
$2,000
Closing Costs
$4,410

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,021

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,498
Loan Amount $220,493
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$15,889

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,454

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3953$1,3954$1,4005$1,510
$1,510
RENT COMPS ANALYSIS
  • 5139 Downhaul Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 2021 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.79
    •  
  • 4638 Esmeralda Drive Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,642 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,642 Sqft ∙ Built 2012
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.79
    •  
  • 4526 Esmeralda Drive Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2013
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.79
    •  
  • 4640 Belmar Place Road Charlotte, NC 3
    • 3 beds 4 baths ∙ 1,828 Sqft ∙ Built 2009 3 beds 4 baths ∙ 1,828 Sqft ∙ Built 2009
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.76
    •  
  • 1432 Prairie Valley Drive Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,933 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,933 Sqft ∙ Built 2005
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.72
    •  
PROPERTY LISTING DETAILS
Jerry Smith
1.704.610.5282
Nvr Homes, Inc./ryan Homes
BESbswy