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526 Lakeview Drive Mcadenville, NC 28101

3 Beds 3 Baths 2,048 sqft Built 2010

$335,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $163.57
  • 12 Days on Market
  • MLS # : 3699489
  • Updated Date : 02/06/2021 at 17:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,048 sqft
  • Baths : 2 full , 1 half
Listing Agent

Costello Real Estate And Investments

Listing Agent's Description

Gorgeous home located in McAdenville Village. You'll love entertaining family during the holidays with this fantastic open floorpan. They'll also be able to admire all of the beautiful lights that Christmastown USA has to offer. The wonderful master boasts large amounts of natural light and with large walk-in closet. The owners bath is an oasis on its own with a garden tub to soak in after a long day. Spacious spare rooms great for when out of town guests pop in for the weekend. Enjoy the back patio by the outdoor wood burning fireplace during anytime of the year while hanging out during celebrations or sitting on your lovely wrap around porch on warm summer nights while winding down from the day. For all of you outdoor folks, you'll love venturing out on the walking trails and you'll be around the corner from neighborhood pool.

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: 28101

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k308k

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

Zip Code: 28101

ZipNIR Market*Market2010Year20002019 Q285090095010001050110011501200125013001350Rent in $8421375

* 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
Mcadenville Elementary School Primary Regular 166 13 6
Holbrook Middle School Middle Regular 731 40 6
Stuart W. Cramer High School High Unknown NA

Mcadenville Elementary School

  • Education Level: Primary
  • # of students: 166
  • # of teachers: 13
6
GreatSchools Rating

Holbrook Middle School

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

Stuart W. Cramer High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,164
Property Tax -$260
Property Insurance -$66
HOA -$53
Property Management Fees -$119
CASH FLOW
$229

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$335,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
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$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$38,310

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,731

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8903$1,900
$1,900
RENT COMPS ANALYSIS
  • 526 Lakeview Drive Mcadenville, NC 2
    • 3 beds 3 baths ∙ 2,048 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,048 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.92
    •  
  • 303 Woodridge Drive Belmont, NC 1
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1985
    property image
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.77
    •  
  • 111 Highland Street Belmont, NC 3
    • 3 beds 2 baths ∙ 2,190 Sqft ∙ Built 1956 3 beds 2 baths ∙ 2,190 Sqft ∙ Built 1956
    property image
    LEASED 11/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.87
    •  
PROPERTY LISTING DETAILS
Ashley Kaufman
1.704.807.5313
Costello Real Estate And Investments
BESbswy