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544 Tribune Drive Charlotte, NC 28214

3 Beds 3 Baths 1,988 sqft Built 2007

$230,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2007
  • Price/Sqft : $115.69
  • 10 Days on Market
  • MLS # : 3674486
  • Updated Date : 11/01/2020 at 18:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,988 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Select

Listing Agent's Description

Lovely 3 bedroom with loft/flex area for home office. Close to 485 and easy access to Airport. Home is move in ready and features an open floor plan, fenced level yard, spacious bedrooms and gas FP. Also offers shower tub in master bath with dual vanity. MB has trey ceiling. Wired for security system, which is currently leased. **Multiple offers received. Seller is asking for highest and best by 7pm Monday

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Moores Chapel

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Moores Chapel

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
Whitewater Academy Primary Unknown 756 45 NA
Whitewater Middle School Middle Regular 924 53 5
West Mecklenburg High School High Regular 2,040 108 1

Whitewater Academy

  • Education Level: Primary
  • # of students: 756
  • # of teachers: 45
NA
GreatSchools Rating

Whitewater Middle School

  • Education Level: Middle
  • # of students: 924
  • # of teachers: 53
5
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$849
Property Tax -$201
Property Insurance -$65
HOA -$16
Property Management Fees -$124
CASH FLOW
$126

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.

$230,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.5%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$23,324

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,546

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3803$1,3954$1,3995$1,595
$1,595
RENT COMPS ANALYSIS
  • 544 Tribune Drive Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,988 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,988 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.69
    •  
  • 10239 Apple Dove Court Charlotte, NC 1
    • 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 2004
    property image
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.72
    •  
  • 1941 Pheasant Glen Road Charlotte, NC 3
    • 4 beds 3 baths ∙ 1,832 Sqft ∙ Built 2008 4 beds 3 baths ∙ 1,832 Sqft ∙ Built 2008
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.76
    •  
  • 7823 Euler Way Charlotte, NC 4
    • 4 beds 3 baths ∙ 1,836 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,836 Sqft ∙ Built 2000
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.76
    •  
  • 2838 Cartesian Drive Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,907 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,907 Sqft ∙ Built 2006
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.84
    •  
PROPERTY LISTING DETAILS
Katie Brasseur
1.980.313.3955
Keller Williams Select
BESbswy