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536 Woodlawn Road E Charlotte, NC 28209

3 Beds 1 Baths 902 sqft Built 1952

$298,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $330.38
  • 61 Days on Market
  • MLS # : 3681559
  • Updated Date : 11/11/2020 at 13:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 902 sqft
  • Baths : 1 full
Listing Agent

Ken Realty

Listing Agent's Description

Adorable home close to dinning, shopping, Hospital, airport entertainment Parks, Lynx light rail and uptown move in condition newly renovation kitchen with stainless steal appliances, granite counter top New Gas pack install on 2020 , freshly pain in and out with detached 2 Car garages and work shop. Note. Heat unit in the work shop is not work and sale as is condition. Perfect for start up for your dream 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

Neighborhood: Madison Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $102k336k

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

Neighborhood: Madison Park

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
Pinewood Elementary School Primary Regular 557 38 4
Sedgefield Middle School Middle Regular 745 45 1
Myers Park High School High Regular 2,762 145 8

Pinewood Elementary School

  • Education Level: Primary
  • # of students: 557
  • # of teachers: 38
4
GreatSchools Rating

Sedgefield Middle School

  • Education Level: Middle
  • # of students: 745
  • # of teachers: 45
1
GreatSchools Rating

Myers Park High School

  • Education Level: High
  • # of students: 2,762
  • # of teachers: 145
8
GreatSchools Rating
 

$268,200$327,800$298,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$1,035
Property Tax -$260
Property Insurance -$44
Property Management Fees -$119
CASH FLOW
-$138

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.

$298,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 9.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$84,720

INVESTMENT

$84,720

Down Payment
$74,500
Rehab Estimate
$5,750
Closing Costs
$4,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,035

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,500
Loan Amount $223,500
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$8,499

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $1.46

    LIST RENT PER SQFT
  • $1,143

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$1,245
1$1,2452$1,3203$1,3504$1,4255$1,450
$1,450
RENT COMPS ANALYSIS
  • 536 Woodlawn Road E Charlotte, NC 2
    • 3 beds 1 baths ∙ 902 Sqft ∙ Built 1952 3 beds 1 baths ∙ 902 Sqft ∙ Built 1952
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $1.46
    •  
  • 4727 Gilmore Drive Charlotte, NC 1
    • 3 beds 1 baths ∙ 1,075 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,075 Sqft ∙ Built 1952
    property image
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $1.16
    •  
  • 5009 Murrayhill Road Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,144 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,144 Sqft ∙ Built 1957
    property image
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.18
    •  
  • 741 Manhasset Road Charlotte, NC 4
    • 3 beds 1 baths ∙ 1,040 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,040 Sqft ∙ Built 1955
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.37
    •  
  • 4638 Murrayhill Road Charlotte, NC 5
    • 3 beds 1 baths ∙ 1,063 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,063 Sqft ∙ Built 1953
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.36
    •  
PROPERTY LISTING DETAILS
Kenneth Sok
1.704.641.4008
Ken Realty
BESbswy