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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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Madison Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$84,720
LOAN DETAILS
$1,035
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $74,500 |
| Loan Amount | $223,500 |
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
-
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
1.704.641.4008
Ken Realty
