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5143 Downhaul Drive #162 Charlotte, NC 28269

4 Beds 3 Baths 1,660 sqft Built 2020

$283,990

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $171.08
  • 3 Days on Market
  • MLS # : 3697009
  • Updated Date : 01/08/2021 at 20:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,660 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nvr Homes, Inc./ryan Homes

Listing Agent's Description

Lovely 4 bedroom home with lots of space and a modern design. This plan includes a 2-car garage, plenty of closet space, an open-concept main level and upstairs 4 oversized bedrooms. 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.

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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
 

$255,591$312,389$283,990

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$986
Property Tax -$262
Property Insurance -$58
HOA -$29
Property Management Fees -$119
CASH FLOW
-$105

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.

$283,990

PROJECTED PRICE

$1,350

PROJECTED RENT

0.48%

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-$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$77,257

INVESTMENT

$77,257

Down Payment
$70,998
Rehab Estimate
$2,000
Closing Costs
$4,260

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$986

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,998
Loan Amount $212,993
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$7,805

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,324

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3503$1,3954$1,3955$1,400
$1,400
RENT COMPS ANALYSIS
  • 5143 Downhaul Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 1,660 Sqft ∙ Built 2020 4 beds 3 baths ∙ 1,660 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.81
    •  
  • 1817 Mcallister Drive Nw Charlotte, NC 1
    • 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1966
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.77
    •  
  • 4526 Esmeralda Drive Charlotte, NC 3
    • 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 4
    • 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
    •  
  • 2730 Cochrane Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 1,612 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,612 Sqft ∙ Built 2005
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.87
    •  
PROPERTY LISTING DETAILS
Jerry Smith
1.704.610.5282
Nvr Homes, Inc./ryan Homes
BESbswy