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5409 Ashbury Lane #68 Davidson, NC 28036

3 Beds 3 Baths 2,856 sqft Built 1995

$425,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
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

MARKET HIGHLIGHTS

  • 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

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $8442492

* 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
W R Odell Elementary School Primary Regular 882 52 NA
Harris Road Middle School Middle Regular 1,185 63 9
Cox Mill High School High Regular 1,478 76 7

W R Odell Elementary School

  • Education Level: Primary
  • # of students: 882
  • # of teachers: 52
NA
GreatSchools Rating

Harris Road Middle School

  • Education Level: Middle
  • # of students: 1,185
  • # of teachers: 63
9
GreatSchools Rating

Cox Mill High School

  • Education Level: High
  • # of students: 1,478
  • # of teachers: 76
7
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

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
$1,800
1$1,8002$2,2203$2,3004$2,850
$2,850
RENT COMPS ANALYSIS
  • 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
Sarah Menzer
1.704.560.4341
Allen Tate Matthews/mint Hill
BESbswy