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533 Aspen Lane Indian Trail, NC 28079

4 Beds 3 Baths 2,050 sqft Built 2002

$350,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $170.73
  • 11 Days on Market
  • MLS # : 3714223
  • Updated Date : 03/27/2021 at 09:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,050 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Select

Listing Agent's Description

Stunning Rare, Cul-de-sac Home Located in Indian Trail on almost 1/2 an acre! Beautiful Family Room with Stone Fireplace, & Vaulted Ceiling. Elegant Dining Room with Crown Molding & Wood Floors. Perfect Chef's Dream Kitchen with Kitchen Island, White Cabinets, Granite Counters, Pantry & Stainless Steel Appliances. Master on the Main Floor with Tray Ceiling, & Remodeled Master Bathroom with Cathedral Ceiling, Tiled Shower & Palladian window. 2nd Floor has 3 Large Bedrooms plus a Large Bonus room/5th Bedroom with a closet. Stunning Backyard Oasis with Enormous Deck, Pool (has been professionally maintained), and Enormous Shed/Outbuilding (12.3x12.3). No Hoa

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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: Country Woods East

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Country Woods East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Stallings Elementary School Primary Regular 576 32 9
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Stallings Elementary School

  • Education Level: Primary
  • # of students: 576
  • # of teachers: 32
9
GreatSchools Rating

Porter Ridge Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 72
7
GreatSchools Rating

Porter Ridge High School

  • Education Level: High
  • # of students: 1,591
  • # of teachers: 77
7
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,216
Property Tax -$229
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
-$29

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.

$350,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.4%
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-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$19,959

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
  • $0.78

    LIST RENT PER SQFT
  • $1,568

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5503$1,6004$1,6005$1,695
$1,695
RENT COMPS ANALYSIS
  • 533 Aspen Lane Indian Trail, NC 4
    • 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.78
    •  
  • 3101 Less Traveled Trail Indian Trail, NC 1
    • 4 beds 3 baths ∙ 2,207 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,207 Sqft ∙ Built 2006
    property image
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.68
    •  
  • 6002 Centerview Drive Indian Trail, NC 2
    • 3 beds 3 baths ∙ 2,122 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,122 Sqft ∙ Built 2008
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.73
    •  
  • 6708 Brookgreen Terrace Matthews, NC 3
    • 4 beds 2 baths ∙ 1,909 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,909 Sqft ∙ Built 1979
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.84
    •  
  • 6108 Follow The Trail Indian Trail, NC 5
    • 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 2006
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.79
    •  
PROPERTY LISTING DETAILS
Nicki Dembek
1.215.290.1321
Keller Williams Select
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3714223
Last Updated: 03/27/2021
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