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5232 Sunriver Road Gastonia, NC 28054

5 Beds 3 Baths 2,696 sqft Built 2006

$280,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $103.86
  • 4 Days on Market
  • MLS # : 3704569
  • Updated Date : 02/04/2021 at 17:45
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,696 sqft
  • Baths : 3 full
Listing Agent

Prism Properties & Development

Listing Agent's Description

Enjoy suburban living at its finest at 5232 Sunriver Rd. This 5 bedroom 3 bathroom home is located on a culdesac lot with mountain views to enjoy right in your backyard! For the one individual who does not like stairs there is one bedroom with a full bath on the main level. Also, downstairs enjoy brand new vinyl plank flooring and refreshed paint. Your kitchen is fully loaded with stainless steel appliances, granite countertops, center island, and a large pantry. Every bedroom upstairs features either a tray or vaulted ceiling for added character along with an additional loft for living space. Relish the fact that your laundry is located upstairs in its own devoted space. Keep your pets contained in a fully fenced back yard, with a doggie door, and keep unsightly lawn items stored in the newly added exterior storage. Who could ask for a better home?

SEE MORE

MARKET HIGHLIGHTS

  • 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

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
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$973
Property Tax -$215
Property Insurance -$78
HOA -$16
Property Management Fees -$119
CASH FLOW
$399

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.

$280,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.64%

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$5.0k$10k$15k$20k

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$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

12.33

YEARS SAVED

$54,234

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,894

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5953$1,7454$1,8005$2,200
$2,200
RENT COMPS ANALYSIS
  • 5232 Sunriver Road Gastonia, NC 4
    • 5 beds 3 baths ∙ 2,696 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,696 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.67
    •  
  • 237 Ranlo Avenue Gastonia, NC 1
    • 4 beds 3 baths ∙ 2,366 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,366 Sqft ∙ Built 2006
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.63
    •  
  • 4109 Everest Drive Gastonia, NC 2
    • 5 beds 3 baths ∙ 2,361 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,361 Sqft ∙ Built 2003
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.68
    •  
  • 4335 Stone Mountain Drive Gastonia, NC 3
    • 4 beds 3 baths ∙ 2,445 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,445 Sqft ∙ Built 2005
    LEASED 02/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.71
    •  
  • 175 Ranlo Avenue Gastonia, NC 5
    • 5 beds 3 baths ∙ 2,800 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,800 Sqft ∙ Built 2005
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.79
    •  
PROPERTY LISTING DETAILS
Matt Kalnen
1.910.617.8172
Prism Properties & Development
BESbswy