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PROPERTY INFO
FACTS
- Single Family
- Built In 1995
- Price/Sqft : $148.81
- 6 Days on Market
- MLS # : 3699787
- Updated Date : 01/23/2021 at 19:00
CONSTRUCTION
- Beds : 3
- Floor Size : 2,856 sqft
- Baths : 2 full , 1 half
Listing Agent
Allen Tate Matthews/mint Hill
Listing Agent's Description
Welcome to your full brick home nestled on a 1.03 wooded acre lot! Large master ensuite bedroom on main floor with bay window. Large master bathroom with dual vanities & separate shower/garden tub. A large 2-story great room with shiplap fireplace opens up to an eat-in kitchen with Corian countertops, lots of cabinetry & stainless steel refrigerator less than 1 year old. Enjoy your oversized TREX deck overlooking your fully fenced backyard perfect for entertaining. 2 additional bedrooms located on the second floor + large bonus room & office. NEW carpet & paint throughout in 2018. NEW roof in 2010. NEW Pella windows in 2010. Trane heat pumps, main 2016 & second floor 2017. NEW well pump 2013. Underground sprinkling system. 2020 gas logs. Crawl space has full vapor barrier + dehumidifier with monitor for inside the home. MULTIPLE OFFERS! ALL OFFERS NEED RECEIVED BY 9PM TONIGHT (SATURDAY 1/23/21)
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Zip Code: 28036
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28036
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,220 |
| EXPENSES | Loan Payment | -$1,476 |
| Property Tax | -$246 | |
| Property Insurance | -$81 | |
| HOA | -$12 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$286
|
||
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.
$425,000
PROJECTED PRICE
$2,220
PROJECTED RENT
0.52%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 7.0% |
| 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
$118,375
LOAN DETAILS
$1,476
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $106,250 |
| Loan Amount | $318,750 |
9.42
YEARS SAVED
$55,662
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,220
LIST RENT -
$0.78
LIST RENT PER SQFT
-
$2,332
COMP ESTIMATED VALUE -
$0.82
COMP AVG. RENT PER SQFT
Comps Range
-
5409 Ashbury Lane Davidson, NC 2
- 3 beds 3 baths ∙ 2,856 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,856 Sqft ∙ Built 1995
- Rent
- Rent Per SQFT
- $2,220
- $0.78
-
10930 Tailwater Street Davidson, NC 1
- 4 beds 4 baths ∙ 2,688 Sqft ∙ Built 2010 4 beds 4 baths ∙ 2,688 Sqft ∙ Built 2010
LEASED 01/18/21- Rent
- Rent Per SQFT
- $1,800
- $0.67
-
11611 Terrill Ridge Drive Davidson, NC 3
- 3 beds 3 baths ∙ 2,713 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,713 Sqft ∙ Built 1994
LEASED 04/03/20- Rent
- Rent Per SQFT
- $2,300
- $0.85
-
18604 Dembridge Drive Sw Davidson, NC 4
- 4 beds 3 baths ∙ 3,176 Sqft ∙ Built 1996 4 beds 3 baths ∙ 3,176 Sqft ∙ Built 1996
LEASED 05/08/20- Rent
- Rent Per SQFT
- $2,850
- $0.90
PROPERTY LISTING DETAILS
1.704.560.4341
Allen Tate Matthews/mint Hill
