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5209 Tomsie Efird Lane Charlotte, NC 28269

4 Beds 3 Baths 2,257 sqft Built 2016

$275,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $121.84
  • 3 Days on Market
  • MLS # : 3688615
  • Updated Date : 12/05/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,257 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bridgeport Homeservices

Listing Agent's Description

Welcome home, this spacious home features 4 bedrooms, 2.5 baths, dining room, open concept kitchen and living room, and two car garage. The entryway, kitchen, dining and living room feature vinyl wood plank flooring. The kitchen features dark cabinets, ceramic tile backsplash, island with pendant lighting, stainless steel appliances and recessed lighting. Large master suite includes dual vanities, separate shower, garden tub, and a walk-in closet. The upstairs offers a large loft, 3 additional bedrooms, a full bath, and washer/dryer. The well maintained backyard features a recently built deck.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: West Sugar Creek

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $106k235k

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

Neighborhood: West Sugar Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8421518

* 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
Winding Springs Elementary School Primary Regular 859 60 3
James Martin Middle School Middle Regular 1,113 54 3
North Mecklenburg High School High Regular 1,881 101 3

Winding Springs Elementary School

  • Education Level: Primary
  • # of students: 859
  • # of teachers: 60
3
GreatSchools Rating

James Martin Middle School

  • Education Level: Middle
  • # of students: 1,113
  • # of teachers: 54
3
GreatSchools Rating

North Mecklenburg High School

  • Education Level: High
  • # of students: 1,881
  • # of teachers: 101
3
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,015
Property Tax -$240
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
$67

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$275,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
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$12k$14k

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$24,059

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,642

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,510
1$1,5102$1,5503$1,6454$1,6755$1,675
$1,675
RENT COMPS ANALYSIS
  • 5209 Tomsie Efird Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,257 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,257 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.67
    •  
  • 5135 Tomsie Efird Lane Charlotte, NC 2
    • 4 beds 2 baths ∙ 2,158 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,158 Sqft ∙ Built 2012
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.72
    •  
  • 4310 Springhaven Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2004
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.74
    •  
  • 6620 Nathan Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 2018
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.71
    •  
  • 6628 Nathan Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,295 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,295 Sqft ∙ Built 2017
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.73
    •  
PROPERTY LISTING DETAILS
Reggie Johnson
1.910.616.3033
Bridgeport Homeservices
BESbswy