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5406 Branch Street Charlotte, NC 28215

3 Beds 2 Baths 1,402 sqft Built 1991

$275,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $196.15
  • 3 Days on Market
  • MLS # : 3712110
  • Updated Date : 02/26/2021 at 15:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,402 sqft
  • Baths : 2 full
Listing Agent

Mark Spain Real Estate

Listing Agent's Description

Great ranch home that sits on 2 lots and with NO HOA. This offers a kitchen area with dinning space and a separate area for a large dinning room table, open family room and each bedroom offers natural night and a cozy feel. This house is a MUST see and will not last long. HARRISBURG HICKORY RIDGE SCHOOL DISTRICT... including the New Hickory Ridge Elementary School. Cabarrus County Taxes, easy access to Uptown, and so close to amenities and 485 access. New Medical facilities nearby as well.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Cabarrus Woods

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $84k318k

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

Neighborhood: Cabarrus Woods

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800Rent in $7461809

* 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
Patriots Elementary School Primary Regular 893 50 NA
Hickory Ridge Middle School Middle Regular 1,164 65 NA
Hickory Ridge High School High Regular 1,573 77 7

Patriots Elementary School

  • Education Level: Primary
  • # of students: 893
  • # of teachers: 50
NA
GreatSchools Rating

Hickory Ridge Middle School

  • Education Level: Middle
  • # of students: 1,164
  • # of teachers: 65
NA
GreatSchools Rating

Hickory Ridge High School

  • Education Level: High
  • # of students: 1,573
  • # of teachers: 77
7
GreatSchools Rating
 

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

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$955
Property Tax -$150
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$12

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

$1,290

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.6%
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-$2.0k$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.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$19,254

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,300

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,260
1$1,2602$1,2903$1,2954$1,3955$1,449
$1,449
RENT COMPS ANALYSIS
  • 5406 Branch Street Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.92
    •  
  • 10104 Rockwood Road Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,307 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,307 Sqft ∙ Built 2002
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.96
    •  
  • 5406 Whittlington Drive Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 1999
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.96
    •  
  • 10414 Starwood Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 1,548 Sqft ∙ Built 1983 4 beds 3 baths ∙ 1,548 Sqft ∙ Built 1983
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.90
    •  
  • 5423 River Falls Drive Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 3 beds 2 baths ∙ 1,629 Sqft ∙ Built
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.89
    •  
PROPERTY LISTING DETAILS
Rachel Alles
1.855.299.7653
Mark Spain Real Estate
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3712110
Last Updated: 02/26/2021
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