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PROPERTY INFO
FACTS
- Single Family
- Built In 1954
- Price/Sqft : $149.95
- 2 Days on Market
- MLS # : 3710580
- Updated Date : 02/20/2021 at 13:04
CONSTRUCTION
- Beds : 4
- Floor Size : 1,994 sqft
- Baths : 2 full
Listing Agent
Southern Homes Of The Carolinas
Listing Agent's Description
Beautiful ranch just listed in the University Area! 4 bedrooms & 2 baths, large kitchen with granite countertops, stainless appliances, tile backsplash & plenty of space for large kitchen table. Huge living room with large windows & fireplace with gas logs. Extra area attached to living room for home office. Master suite with plenty of closets & attached en suite bath. Relax on the large, covered back porch & enjoy the beautiful, large .65/acre back yard that is fenced. Covered carport for 2 cars & detached garage that has power and attic fan for air circulation. Plenty of storage in garage & workshop. Can use as a game area for pool table or other games.
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: Newell South
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Newell South
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,550 |
| EXPENSES | Loan Payment | -$1,039 |
| Property Tax | -$261 | |
| Property Insurance | -$65 | |
| 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 14% of earned rent to cover both maintenance and periods of vacancy.
$299,000
PROJECTED PRICE
$1,550
PROJECTED RENT
0.52%
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
$84,985
LOAN DETAILS
$1,039
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $74,750 |
| Loan Amount | $224,250 |
6.33
YEARS SAVED
$21,893
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,550
LIST RENT -
$0.78
LIST RENT PER SQFT
-
$1,645
COMP ESTIMATED VALUE -
$0.83
COMP AVG. RENT PER SQFT
Comps Range
-
521 Gray Drive Charlotte, NC 3
- 4 beds 2 baths ∙ 1,994 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,994 Sqft ∙ Built 1954
- Rent
- Rent Per SQFT
- $1,550
- $0.78
-
509 Glen Ellyn Court Charlotte, NC 1
- 3 beds 3 baths ∙ 1,664 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,664 Sqft ∙ Built 1986
LEASED 04/21/20- Rent
- Rent Per SQFT
- $1,425
- $0.86
-
1345 Torrence Grove Church Road Charlotte, NC 2
- 3 beds 3 baths ∙ 1,868 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,868 Sqft ∙ Built 2018
LEASED 01/24/20- Rent
- Rent Per SQFT
- $1,449
- $0.78
-
6554 Dougherty Drive Charlotte, NC 4
- 4 beds 3 baths ∙ 2,110 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,110 Sqft ∙ Built 1986
LEASED 10/15/20- Rent
- Rent Per SQFT
- $1,745
- $0.83
-
429 Gray Drive Charlotte, NC 5
- 4 beds 4 baths ∙ 2,260 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,260 Sqft ∙ Built 2020
LEASED 01/29/21- Rent
- Rent Per SQFT
- $1,875
- $0.83
PROPERTY LISTING DETAILS
1.704.490.1998
Southern Homes Of The Carolinas
MLS #: 3710580
Last Updated: 02/20/2021
