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PROPERTY INFO
FACTS
- Single Family
- Built In 2003
- Price/Sqft : $152.17
- 3 Days on Market
- MLS # : 3705547
- Updated Date : 02/20/2021 at 08:18
CONSTRUCTION
- Beds : 3
- Floor Size : 1,311 sqft
- Baths : 2 full
Listing Agent
Premier South
Listing Agent's Description
Come see this Adorable updated Ranch with Huge Rocking Chair Front Porch! This Home has a Split 3 Bedroom Floor Plan, Large Open Living Space, Granite Counter tops in Kitchen, Kitchen Island and much more. New Roof in 2020, New Floors, Fresh Paint, so look no more!
SEE MORE
- 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: Becton Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Becton Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,210 |
| EXPENSES | Loan Payment | -$693 |
| Property Tax | -$183 | |
| Property Insurance | -$52 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$163
|
||
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.
$199,500
PROJECTED PRICE
$1,210
PROJECTED RENT
0.61%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.94% |
| Appreciation Year (1-5) | 9.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.02% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$58,618
LOAN DETAILS
$693
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $49,875 |
| Loan Amount | $149,625 |
9.42
YEARS SAVED
$25,834
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,210
LIST RENT -
$0.92
LIST RENT PER SQFT
-
$1,206
COMP ESTIMATED VALUE -
$0.92
COMP AVG. RENT PER SQFT
Comps Range
-
5206 Crane Point Drive Charlotte, NC 1
- 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 2003
- Rent
- Rent Per SQFT
- $1,210
- $0.92
-
6021 Scots Bluff Drive Charlotte, NC 2
- 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1992
LEASED 02/21/20- Rent
- Rent Per SQFT
- $1,295
- $0.92
-
8806 Brass Bell Court Charlotte, NC 3
- 3 beds 3 baths ∙ 1,476 Sqft ∙ Built 3 beds 3 baths ∙ 1,476 Sqft ∙ Built
LEASED 04/13/20- Rent
- Rent Per SQFT
- $1,299
- $0.88
-
8018 Sherington Way Charlotte, NC 4
- 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1987
LEASED 09/17/20- Rent
- Rent Per SQFT
- $1,350
- $1.00
-
5813 Martin Lake Road Charlotte, NC 5
- 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 1963
LEASED 11/29/20- Rent
- Rent Per SQFT
- $1,395
- $0.92
PROPERTY LISTING DETAILS
1.704.488.4471
Premier South
MLS #: 3705547
Last Updated: 02/20/2021
