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5146 Downhaul Drive #174 Charlotte, NC 28269

5 Beds 3 Baths 2,134 sqft Built 2021

$322,990

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $151.35
  • 4 Days on Market
  • MLS # : 3707696
  • Updated Date : 02/11/2021 at 18:05
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,134 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nvr Homes, Inc./ryan Homes

Listing Agent's Description

An open-concept main level, with a kitchen that can have an eat-at island to easily seat 3 which flows into a dinette and large great room. Upstairs you’ll find 5 bedrooms, linen closet, and laundry room. The owner’s bedroom has an en-suite bath and 2 walk in closets 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

  • 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: 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
 

$290,691$355,289$322,990

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,122
Property Tax -$296
Property Insurance -$67
HOA -$29
Property Management Fees -$119
CASH FLOW
$157

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.

$322,990

PROJECTED PRICE

$1,790

PROJECTED RENT

0.55%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$87,592

INVESTMENT

$87,592

Down Payment
$80,748
Rehab Estimate
$2,000
Closing Costs
$4,845

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,122

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,748
Loan Amount $242,243
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$33,481

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,729

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,7903$1,795
$1,795
RENT COMPS ANALYSIS
  • 5146 Downhaul Drive Charlotte, NC 2
    • 5 beds 3 baths ∙ 2,134 Sqft ∙ Built 2021 5 beds 3 baths ∙ 2,134 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.84
    •  
  • 3632 Ribbonwalk Trail Charlotte, NC 1
    • 4 beds 3 baths ∙ 1,824 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,824 Sqft ∙ Built 2007
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.82
    •  
  • 5419 Graypark Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,231 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,231 Sqft ∙ Built 2015
    LEASED 02/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.80
    •  
PROPERTY LISTING DETAILS
Jerry Smith
1.704.610.5282
Nvr Homes, Inc./ryan Homes
BESbswy