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5217 Crisfield Road Charlotte, NC 28269

4 Beds 3 Baths 1,866 sqft Built 1998

$260,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $139.34
  • 9 Days on Market
  • MLS # : 3715245
  • Updated Date : 03/13/2021 at 08:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,866 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nestlewood Realty, Llc

Listing Agent's Description

Welcome Home!! Try and find a 4 bedroom home in Charlotte at this price that is ready to GO?? This lovely cul-de-sac home has the space and location that you are looking for. With 4 bedrooms, 2 and half baths you will not find a better home for your family. If you are looking for that starter home or next step here it is. Stainless steel kitchen appliances, granite countertops, large soaking tub in the master bathroom and great outdoor living space. With easy access to 485 and 85 be anywhere in the Charlotte Area in NO TIME. Make this house your new HOME!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$903
Property Tax -$227
Property Insurance -$62
HOA -$16
Property Management Fees -$119
CASH FLOW
$193

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.

$260,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.58%

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$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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$31,840

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,651

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,520
1$1,5202$1,5503$1,5754$1,6205$1,725
$1,725
RENT COMPS ANALYSIS
  • 5217 Crisfield Road Charlotte, NC 1
    • 4 beds 3 baths ∙ 1,866 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,866 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.81
    •  
  • 5215 Holbert Circle Charlotte, NC 2
    • 4 beds 3 baths ∙ 1,788 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,788 Sqft ∙ Built 2004
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
  • 6614 Mallard Park Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,864 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,864 Sqft ∙ Built 2000
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.84
    •  
  • 3325 Glamorgan Court Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,842 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,842 Sqft ∙ Built 2003
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.88
    •  
  • 6909 Trimbach Way Charlotte, NC 5
    • 4 beds 3 baths ∙ 1,846 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,846 Sqft ∙ Built 2000
    property image
    LEASED 01/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.93
    •  
PROPERTY LISTING DETAILS
Douglas Christen
1.704.516.2220
Nestlewood Realty, Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3715245
Last Updated: 03/13/2021
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