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5200 Haybridge Road Charlotte, NC 28269

4 Beds 3 Baths 1,932 sqft Built 1995

$239,900

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $124.17
  • 3 Days on Market
  • MLS # : 3678793
  • Updated Date : 11/07/2020 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,932 sqft
  • Baths : 2 full , 1 half
Listing Agent

Wilkinson Era Real Estate

Listing Agent's Description

Welcome to the lovely 4 bedroom home located in the desirable North Charlotte area! Great Starter or investment home...New roof installed 2020...Family Room and dining room open for entertaining..Wood Burning fireplace..Good sized room with one larger room that could be office space/classroom/hobby room. The backyard is flat. Opportunity to make this home your own! Shopping, restaurants, the University of North Carolina at Charlotte, Northlake Mall are all close. Commuting North to Lake Norman or South to Uptown Charlotte is easy with close access to I77 and I485.

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: Rockwell Park - Hemphill Heights

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Rockwell Park - Hemphill Heights

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
David Cox Road Elementary School Primary Regular 784 46 4
Ridge Road Middle School Middle Regular 1,285 65 6
Mallard Creek High School High Regular 2,472 123 6

David Cox Road Elementary School

  • Education Level: Primary
  • # of students: 784
  • # of teachers: 46
4
GreatSchools Rating

Ridge Road Middle School

  • Education Level: Middle
  • # of students: 1,285
  • # of teachers: 65
6
GreatSchools Rating

Mallard Creek High School

  • Education Level: High
  • # of students: 2,472
  • # of teachers: 123
6
GreatSchools Rating
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$885
Property Tax -$209
Property Insurance -$64
HOA -$8
Property Management Fees -$130
CASH FLOW
$144

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.

$239,900

PROJECTED PRICE

$1,440

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.3%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$25,975

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,521

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4403$1,4954$1,4995$1,795
$1,795
RENT COMPS ANALYSIS
  • 5200 Haybridge Road Charlotte, NC 2
    • 4 beds 3 baths ∙ 1,932 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,932 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.75
    •  
  • 3500 Mayspring Place Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 1999
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.77
    •  
  • 8523 Greenware Trail Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,988 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,988 Sqft ∙ Built 2002
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.75
    •  
  • 3403 Pondridge Court Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,918 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,918 Sqft ∙ Built 1992
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.78
    •  
  • 3544 Betterton Lane Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1998
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.85
    •  
PROPERTY LISTING DETAILS
Patrick Gorman
1.704.964.1233
Wilkinson Era Real Estate
BESbswy