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5415 Creft Circle Indian Trail, NC 28079

5 Beds 4 Baths 2,970 sqft Built 1996

INVESTimate

$415,900

List Price

$1,990

$1,791 - $2,189

Rent Est.

$446,552  ( +7.37%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1996
  • Price/Sqft : $140.03
  • 24 Days on Market
  • MLS # : 3647802
  • Updated Date : 08/25/2020 at 15:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,970 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Enjoy your morning coffee, a nap or anything else you like to do on the large covered front porch overlooking the lake. This home has it all. Completely updated top to bottom including: kitchen cabinets, flooring (wood, tile, carpet), vanities, lighting, fixtures, front and back door, roof and HVAC. Appliances are top of the line (slide in range with wifi). The whole house has been freshly painted. Four of five bedrooms have large walk-in closets. Master suite offers two walk-in closets, frameless glass shower enclosure and a bluetooth capability built into lighting. Laundry is conveniently located near all bedrooms. Still looking for more? A beautiful patio and lovely flowerbeds make the outdoors a great place for family BBQs shaded by large, mature trees. The Lake Park community is one of the friendliest communities in the area and only a hop and a jump from US 74 and I 485 making for an easy commute. Shopping, restaurants, medical facilities are close by. A must see!

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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: Lake Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Lake Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Poplin Elementary School Primary Regular 719 40 7
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Poplin Elementary School

  • Education Level: Primary
  • # of students: 719
  • # of teachers: 40
7
GreatSchools Rating

Porter Ridge Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 72
7
GreatSchools Rating

Porter Ridge High School

  • Education Level: High
  • # of students: 1,591
  • # of teachers: 77
7
GreatSchools Rating
 

$374,310$457,490$415,900

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,534
Property Tax -$272
Property Insurance -$83
HOA -$7
Property Management Fees -$179
CASH FLOW
-$85

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.

$415,900

PROJECTED PRICE

$1,990

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.37%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,964

INVESTMENT

$115,964

Down Payment
$103,975
Rehab Estimate
$5,750
Closing Costs
$6,239

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,534

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,975
Loan Amount $311,925
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$18,690

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,938

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9253$1,9274$1,9905$1,995
$1,995
RENT COMPS ANALYSIS
  • 5415 Creft Circle Indian Trail, NC 4
    • 5 beds 4 baths ∙ 2,970 Sqft ∙ Built 1996 5 beds 4 baths ∙ 2,970 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.67
    •  
  • 3607 Alden Street Indian Trail, NC 1
    • 4 beds 3 baths ∙ 2,697 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,697 Sqft ∙ Built 1992
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.69
    •  
  • 2002 Seabiscuit Drive Indian Trail, NC 2
    • 4 beds 3 baths ∙ 3,006 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,006 Sqft ∙ Built 2003
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.64
    •  
  • 3604 Alden Street Indian Trail, NC 3
    • 4 beds 3 baths ∙ 2,912 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,912 Sqft ∙ Built 1996
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,927
    • $0.66
    •  
  • 1035 Thessallian Lane Indian Trail, NC 5
    • 5 beds 3 baths ∙ 3,204 Sqft ∙ Built 2016 5 beds 3 baths ∙ 3,204 Sqft ∙ Built 2016
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.62
    •  
PROPERTY LISTING DETAILS
Jude Beard
1.888.584.9431
Exp Realty Llc
BESbswy