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PROPERTY INFO
FACTS
- Single Family
- Built In 2021
- Price/Sqft : $140.94
- 2 Days on Market
- MLS # : 3692624
- Updated Date : 12/19/2020 at 11:58
CONSTRUCTION
- Beds : 4
- Floor Size : 2,175 sqft
- Baths : 2 full , 1 half
Listing Agent
Dr Horton Inc
Listing Agent's Description
Brand new community! Belmeade Crossing is located off Moores Chapel Rd. Exit 12 on I-485 near the Whitewater Center, airport, Riverbend Village Shopping Center, Uptown Charlotte, University area etc! This home is an incredible value with all the benefits of new construction and a 10 yr. Home Warranty! Home Is Connected? includes programmable thermostat, Z-Wave door lock and wireless switch, touchscreen control device, automation platform, video doorbell, and Amazon Echo and Echo Dot. All home features are subject to change without notice. Internet service not included.
SEE MORE
- 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: Moores Chapel
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Moores Chapel
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,600 |
| EXPENSES | Loan Payment | -$1,131 |
| Property Tax | -$285 | |
| Property Insurance | -$68 | |
| HOA | -$42 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$45
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.
$306,540
PROJECTED PRICE
$1,600
PROJECTED RENT
0.52%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.94% |
| Appreciation Year (1-5) | 7.5% |
| Maintenance Year (1-5) | 3.00% |
| 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
$83,233
LOAN DETAILS
$1,131
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $76,635 |
| Loan Amount | $229,905 |
4.42
YEARS SAVED
$15,698
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,600
LIST RENT -
$0.74
LIST RENT PER SQFT
-
$1,571
COMP ESTIMATED VALUE -
$0.72
COMP AVG. RENT PER SQFT
Comps Range
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LEASED 01/09/20- Rent
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- $1,395
- $0.69
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- 3 beds 3 baths ∙ 2,124 Sqft ∙ Built 3 beds 3 baths ∙ 2,124 Sqft ∙ Built
LEASED 01/16/20- Rent
- Rent Per SQFT
- $1,550
- $0.73
-
9648 Turning Wheel Drive Charlotte, NC 3
- 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 2007
LEASED 01/01/20- Rent
- Rent Per SQFT
- $1,585
- $0.75
-
2444 Sonoma Valley Drive Charlotte, NC 5
- 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2007
LEASED 07/29/20- Rent
- Rent Per SQFT
- $1,650
- $0.72
PROPERTY LISTING DETAILS
1.704.706.4227
Dr Horton Inc
