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5257 Fieldgate Court Harrisburg, NC 28075

4 Beds 3 Baths 2,913 sqft Built 1996

$380,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $130.45
  • 5 Days on Market
  • MLS # : 3721617
  • Updated Date : 03/25/2021 at 19:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,913 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams South Park

Listing Agent's Description

Welcome home! This home is ready for its next homeowners! Move right in and enjoy all the space inside and just in time to open the pool and enjoy your own backyard retreat! The kitchen is open with plenty of space for entertaining. The high ceilings and lots of large windows in the family room give the space lots of natural light. Upstairs there are four good size bedrooms including the owner's suite. The bathroom in the owner's suite has been redone with a beautiful free-standing tub and there is more than enough space for all your clothes in the closet! Relax on the back deck overlooking the spacious backyard or hang out around the pool. The pool has been well taken care of: New salt cell & pool liner in 2019 and a new booster pump & new sand filter in 2020. Conveniently located moments from 485 with close shopping, dining, and entertainment. Showings will begin Saturday, March 27th.

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

Neighborhood: Orchard Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Orchard Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441864

* 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
Harrisburg Elementary School Primary Regular 912 53 8
Hickory Ridge Middle School Middle Regular 1,164 65 NA
Hickory Ridge High School High Regular 1,573 77 7

Harrisburg Elementary School

  • Education Level: Primary
  • # of students: 912
  • # of teachers: 53
8
GreatSchools Rating

Hickory Ridge Middle School

  • Education Level: Middle
  • # of students: 1,164
  • # of teachers: 65
NA
GreatSchools Rating

Hickory Ridge High School

  • Education Level: High
  • # of students: 1,573
  • # of teachers: 77
7
GreatSchools Rating
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,320
Property Tax -$273
Property Insurance -$82
HOA -$30
Property Management Fees -$119
CASH FLOW
$96

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.

$380,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$32,374

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,959

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,9204$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 5257 Fieldgate Court Harrisburg, NC 3
    • 4 beds 3 baths ∙ 2,913 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,913 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.66
    •  
  • 4751 Abendego Road Charlotte, NC 1
    • 5 beds 3 baths ∙ 2,616 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,616 Sqft ∙ Built 2018
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.67
    •  
  • 8927 Merrie Rose Avenue Charlotte, NC 2
    • 5 beds 3 baths ∙ 2,960 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,960 Sqft ∙ Built 2007
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.61
    •  
  • 5650 Berry Ridge Drive Harrisburg, NC 4
    • 5 beds 3 baths ∙ 2,854 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,854 Sqft ∙ Built 2000
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.70
    •  
  • 5733 Tom Query Road Harrisburg, NC 5
    • 4 beds 3 baths ∙ 2,939 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,939 Sqft ∙ Built 1985
    LEASED 03/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.68
    •  
PROPERTY LISTING DETAILS
Lindsay Smith
1.203.231.6131
Keller Williams South Park
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3721617
Last Updated: 03/25/2021
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