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5410 Park Brook Drive Charlotte, NC 28269

3 Beds 3 Baths 1,573 sqft Built 2018

$249,900

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $158.87
  • 4 Days on Market
  • MLS # : 3701895
  • Updated Date : 01/29/2021 at 21:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,573 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

Beautiful move-in ready home northeast facing corner lot home. Featuring luxury vinyl flooring through most of the first floor and neutral paint throughout. Large bedrooms and primary bedroom with vaulted ceiling. Allen Hills Park is located .2 miles away and has 11. 5 acres, 2 half-court basketball courts, 2 softball fields, multi-purpose field, playground, picnic area and restrooms.

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

Neighborhood: Derita - Statesville

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Derita - Statesville

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771518

* 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
Nathaniel Alexander Elementary School Primary Regular 815 53 4
James Martin Middle School Middle Regular 1,113 54 3
North Mecklenburg High School High Regular 1,881 101 3

Nathaniel Alexander Elementary School

  • Education Level: Primary
  • # of students: 815
  • # of teachers: 53
4
GreatSchools Rating

James Martin Middle School

  • Education Level: Middle
  • # of students: 1,113
  • # of teachers: 54
3
GreatSchools Rating

North Mecklenburg High School

  • Education Level: High
  • # of students: 1,881
  • # of teachers: 101
3
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$868
Property Tax -$218
Property Insurance -$57
HOA -$33
Property Management Fees -$119
CASH FLOW
-$45

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.

$249,900

PROJECTED PRICE

$1,250

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$9,985

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,239

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,070
1$1,0702$1,2503$1,3954$1,3955$1,495
$1,495
RENT COMPS ANALYSIS
  • 5410 Park Brook Drive Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,573 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,573 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.79
    •  
  • 5312 Princess Street Charlotte, NC 1
    • 3 beds 1 baths ∙ 1,324 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,324 Sqft ∙ Built 1954
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,070
    • $0.81
    •  
  • 4526 Esmeralda Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2013
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.79
    •  
  • 4640 Belmar Place Road Charlotte, NC 4
    • 3 beds 4 baths ∙ 1,828 Sqft ∙ Built 2009 3 beds 4 baths ∙ 1,828 Sqft ∙ Built 2009
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.76
    •  
  • 3516 Ribbonwalk Trail Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,890 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,890 Sqft ∙ Built 2018
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.79
    •  
PROPERTY LISTING DETAILS
Marcia Van Ginhoven
1.704.497.0664
Redfin Corporation
BESbswy