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519 Eastwood Drive Gastonia, NC 28054

3 Beds 3 Baths 1,843 sqft Built 1959

$289,900

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $157.30
  • 7 Days on Market
  • MLS # : 3695250
  • Updated Date : 01/08/2021 at 14:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,843 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Capstone Commercial Group

Listing Agent's Description

Immaculate, Newly Remodeled home in Gardner Park Ready for move in. It boast a Spacious Kitchen with New Appliances, New 5 Burner Gas Stove, New Dishwasher, New Sink and Countertops with Backsplash, New Cabinets, New Tile Floor a Newly added 1/2 bath and completely remodeled owner suite. The primary bath features a walk-in shower and new tile flooring. Exterior has New Paint, New Doors, Updated Windows, Private Fenced Back Yard, New stone paved rear patio perfect for grilling, New landscaping and New Gutters installed. Interior has fresh paint and New doors, New lighting and ceiling fans and Refinished Wood Flooring.

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

Zip Code: 28054

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k213k

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

Zip Code: 28054

ZipNIR Market*CityMarket2010Year20002019 Q270075080085090095010001050110011501200125013001350Rent in $6771375

* 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
Gardner Park Elementary School Primary Regular 668 36 5
Grier Middle School Middle Regular 679 38 6
Ashbrook High School High Regular 1,436 89 4

Gardner Park Elementary School

  • Education Level: Primary
  • # of students: 668
  • # of teachers: 36
5
GreatSchools Rating

Grier Middle School

  • Education Level: Middle
  • # of students: 679
  • # of teachers: 38
6
GreatSchools Rating

Ashbrook High School

  • Education Level: High
  • # of students: 1,436
  • # of teachers: 89
4
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$1,007
Property Tax -$240
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
-$28

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$289,900

PROJECTED PRICE

$1,400

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
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$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$13,757

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,484

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,4494$1,4505$1,495
$1,495
RENT COMPS ANALYSIS
  • 519 Eastwood Drive Gastonia, NC 2
    • 3 beds 3 baths ∙ 1,843 Sqft ∙ Built 1959 3 beds 3 baths ∙ 1,843 Sqft ∙ Built 1959
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.76
    •  
  • 600 Bridle Path Trail Gastonia, NC 1
    • 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1957
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.88
    •  
  • 1720 Hollybrook Avenue Gastonia, NC 3
    • 3 beds 3 baths ∙ 1,783 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,783 Sqft ∙ Built 2006
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.81
    •  
  • 508 Dunham Road Gastonia, NC 4
    • 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 1954 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 1954
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.71
    •  
  • 914 Willow Wind Drive Gastonia, NC 5
    • 3 beds 3 baths ∙ 1,816 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,816 Sqft ∙ Built 2007
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.82
    •  
PROPERTY LISTING DETAILS
Steven Walters
1.704.906.7651
Century 21 Capstone Commercial Group
BESbswy