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5331 Courtfield Drive Indian Trail, NC 28079

3 Beds 2 Baths 1,687 sqft Built 1997

$275,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $163.01
  • 5 Days on Market
  • MLS # : 3679423
  • Updated Date : 11/06/2020 at 18:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,687 sqft
  • Baths : 2 full
Listing Agent

Dockery & Associates Realty Group Llc

Listing Agent's Description

Gorgeous split-bedroom ranch floor plan in amenity-rich Brandon Oaks! Renovated in 2017 with beautiful handscraped, 7-inch wide plank espresso hardwood flooring throughout. Open-kitchen concept with white quartz countertops, gray kitchen cabinets and stainless appliances. Spa-like owner's suite with tray ceiling, large walk-in closet, separate soaking tub and shower. Leveled backyard with a deck. Spacious 2-car garage. Brandon Oaks has two pools, walking trails, a pond, tennis courts, and a clubhouse. All of this, just minutes to new Monroe bypass, hwy 74 and Sun Valley shopping area, which features a movie theatre, restaurants, and grocery stores. Close proximity to downtown Matthews and Monroe. Don't miss this one!

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: Brandon Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Brandon Oaks

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
Sun Valley Elementary School Primary Regular 695 45 9
Sun Valley Middle School Middle Regular 1,365 69 6
Sun Valley High School High Regular 1,306 76 7

Sun Valley Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 45
9
GreatSchools Rating

Sun Valley Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 69
6
GreatSchools Rating

Sun Valley High School

  • Education Level: High
  • # of students: 1,306
  • # of teachers: 76
7
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,015
Property Tax -$180
Property Insurance -$59
Property Management Fees -$135
CASH FLOW
$112

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.

$275,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.2%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$28,511

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,594

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,5004$1,6505$1,675
$1,675
RENT COMPS ANALYSIS
  • 5331 Courtfield Drive Indian Trail, NC 3
    • 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.89
    •  
  • 3007 Secret Garden Court Indian Trail, NC 1
    • 3 beds 1 baths ∙ 1,641 Sqft ∙ Built 2003 3 beds 1 baths ∙ 1,641 Sqft ∙ Built 2003
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
  • 2004 Helleri Drive Indian Trail, NC 2
    • 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 2005
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.99
    •  
  • 3004 Secret Garden Court Indian Trail, NC 4
    • 4 beds 2 baths ∙ 1,835 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,835 Sqft ∙ Built 2002
    property image
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 2016 Farmingham Lane Indian Trail, NC 5
    • 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 2001
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.01
    •  
PROPERTY LISTING DETAILS
Lina Nixon
1.703.898.3087
Dockery & Associates Realty Group Llc
BESbswy