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5213 Sunriver Road Gastonia, NC 28054

4 Beds 3 Baths 2,600 sqft Built 2006

$300,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $115.38
  • 2 Days on Market
  • MLS # : CAR3754407
  • Updated Date : 07/12/2021 at 19:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,600 sqft
  • Baths : 3 full
Listing Agent

Srp The Agency Inc

Listing Agent's Description

Such a lovely home that is not to be missed! Open floor plan! Large dining room that has beautiful wainscoting & crown molding. Step down great room with gas fireplace & TONS of space. Spacious kitchen equipped with a stove, dishwasher, and refrigerator. Large main floor bedroom with a full bathroom. Master bedroom on the second floor has wonderful trey ceiling, ceiling fan & large bonus sitting room. Master bathroom with dual vanity sink, garden tub, large shower and huge walk in closet. Two additional bedrooms, a full bathroom, laundry room and large loft complete this second floor. Not to mention the back porch that is perfect for grilling out and entertaining family and friends! If you've kissed a lot of frogs during your home search, THIS Home is your Prince Charming!

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

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
Brookside Elementary School Primary Regular 551 34 4
Holbrook Middle School Middle Regular 731 40 6
North Gaston High School High Regular 1,095 60 3

Brookside Elementary School

  • Education Level: Primary
  • # of students: 551
  • # of teachers: 34
4
GreatSchools Rating

Holbrook Middle School

  • Education Level: Middle
  • # of students: 731
  • # of teachers: 40
6
GreatSchools Rating

North Gaston High School

  • Education Level: High
  • # of students: 1,095
  • # of teachers: 60
3
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,042
Property Tax -$231
Property Insurance -$76
HOA -$16
Property Management Fees -$119
CASH FLOW
$246

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.

$300,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.58%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$39,940

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,781

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5003$1,6504$1,6855$1,745
$1,745
RENT COMPS ANALYSIS
  • 5213 Sunriver Road Gastonia, NC 1
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 237 Ranlo Avenue Gastonia, NC 2
    • 4 beds 3 baths ∙ 2,366 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,366 Sqft ∙ Built 2006
    property image
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.63
    •  
  • 3125 Teton Drive Gastonia, NC 3
    • 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 2003
    property image
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.73
    •  
  • 168 Ranlo Avenue Gastonia, NC 4
    • 3 beds 3 baths ∙ 2,505 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,505 Sqft ∙ Built 2004
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.67
    •  
  • 4335 Stone Mountain Drive Gastonia, NC 5
    • 4 beds 3 baths ∙ 2,445 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,445 Sqft ∙ Built 2005
    property image
    LEASED 02/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.71
    •  
PROPERTY LISTING DETAILS
Claudia Frye
1.704.689.7802
Srp The Agency Inc
BESbswy