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5500 Davis Ridge Drive Charlotte, NC 28269

3 Beds 2 Baths 2,005 sqft Built 2001

$270,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

$77,300

Investment Est.

AVAILABLE

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AVAILABLE

1 Year
(+6.3%)
1 YR. PROJ. APPRECIATION


Cap Rate	3.9%
Cash Flow	$1,152
Value Increase	$17,372

10 YEAR

Cash On Cash	0.1%
Total Return	12.1%

PROPERTY INFO

December 27, 2020 RECENTLY ADDED

FACTS

Single Family
Built In 2001
Price/Sqft : $134.66
2 Days on Market
MLS # : 3691262
Updated Date : 12/26/2020 at 20:57

CONSTRUCTION

Beds : 3
Floor Size : 2,005 sqft
Baths : 2 full

Listing Agent

Keller Williams Lake Norman

Listing Agent's Description

Fantastic 1 story ranch home with finished bonus over garage features lots and lots of updates! All new appliances in KT, black stainless steel electric range/oven, OTR microwave, dishwasher, plus refrigerator! Granite counter tops in KT and baths. New LVP flooring on main level in KT, Dining, LR, BRs. Large owner suite with tray ceiling, walk in closet. Updated master bath with tiled tub wall and shower with seamless glass door. Gas logs in FP in LR. New roof in 2018. Corner lot. Come and see!

5636 Falls Ridge Ln

Charlotte, North Carolina

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MARKET HIGHLIGHTS

Charlotte Market Report

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)

Neighborhood: Davis Lake - Eastfield

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

Neighborhood: Davis Lake - Eastfield

* 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
Croft Community School	Primary	Regular	644	35	NA
J.m. Alexander Middle School	Middle	Regular	865	40	4
North Mecklenburg High School	High	Regular	1,881	101	3

Croft Community School

Education Level: Primary
# of students: 644
# of teachers: 35

GreatSchools Rating

J.m. Alexander Middle School

Education Level: Middle
# of students: 865
# of teachers: 40

GreatSchools Rating

North Mecklenburg High School

Education Level: High
# of students: 1,881
# of teachers: 101

GreatSchools Rating

FINANCIALS

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$243,000$297,00000$270,000

PURCHASE PRICE

$1,377$1,68300$1,530

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

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FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$1,530
EXPENSES	Loan Payment	-$996
	Property Tax	-$236
	Property Insurance	-$65
	HOA	-$18
	Property Management Fees	-$119



CASH FLOW $96

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.

$270,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS
Expense Inflation	2.50%
Rental Growth Year (1-5)	3.48%
Appreciation Year (1-5)	6.3%
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

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

INVESTMENT

$77,300

Down Payment	$67,500
Rehab Estimate	$5,750
Closing Costs	$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr

4.25%

25.00%

Down Payment

Term	30 Years
Interest	4.25%
Down Payment	$67,500
Loan Amount	$202,500

See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$30,204

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$1,530
LIST RENT
$0.76
LIST RENT PER SQFT

$1,569
COMP ESTIMATED VALUE
$0.78
COMP AVG. RENT PER SQFT

Comps Range

$1,500

1$1,5002$1,5303$1,5454$1,5455$1,595

$1,595

RENT COMPS ANALYSIS

2,005
PROPERTY SQFT
$0.78
AVG RENT PER SQFT
$1,569
ESTIMATED VALUE
$1,530
LIST RENT

5500 Davis Ridge Drive Charlotte, NC 3

3 beds 2 baths ∙ 2,005 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,005 Sqft ∙ Built 2001
Price

Price Per SQFT

$270,000

$134.66
5118 Chestnut Knoll Lane Charlotte, NC 1

3 beds 3 baths ∙ 2,033 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,033 Sqft ∙ Built 2002
SOLD 07/01/20
Price

Price Per SQFT

$255,000

$125.43
4308 Canipe Drive Charlotte, NC 2

3 beds 2 baths ∙ 2,041 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,041 Sqft ∙ Built 2000
SOLD 11/16/20
Price

Price Per SQFT

$270,000

$132.29
6622 Brenock Lane Charlotte, NC 4

3 beds 3 baths ∙ 2,134 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,134 Sqft ∙ Built 1990
SOLD 09/09/20
Price

Price Per SQFT

$277,500

$130.04
11720 Allen A Brown Road Charlotte, NC 5

3 beds 3 baths ∙ 2,131 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,131 Sqft ∙ Built 2012
SOLD 10/30/20
Price

Price Per SQFT

$285,000

$133.74

5500 Davis Ridge Drive Charlotte, NC 2

3 beds 2 baths ∙ 2,005 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,005 Sqft ∙ Built 2001
Rent

Rent Per SQFT

$1,530

$0.76
9522 Saddle Run Trail Charlotte, NC 1

3 beds 3 baths ∙ 1,849 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,849 Sqft ∙ Built 1991
LEASED 02/26/20
Rent

Rent Per SQFT

$1,500

$0.81
9506 Saddle Run Trail Charlotte, NC 3

4 beds 3 baths ∙ 2,142 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 1992
LEASED 01/17/20
Rent

Rent Per SQFT

$1,545

$0.72
9201 Aloysia Lane Charlotte, NC 4

4 beds 4 baths ∙ 1,976 Sqft ∙ Built 2004 4 beds 4 baths ∙ 1,976 Sqft ∙ Built 2004
LEASED 03/09/20
Rent

Rent Per SQFT

$1,545

$0.78
5614 Falls Ridge Lane Charlotte, NC 5

3 beds 3 baths ∙ 2,075 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,075 Sqft ∙ Built 2001
LEASED 02/04/20
Rent

Rent Per SQFT

$1,595

$0.77

PROPERTY LISTING DETAILS

Tom Mattox
1.704.724.8401
Keller Williams Lake Norman

5500 Davis Ridge Drive Charlotte, NC 28269

$270,000

$1,530

$77,300

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Croft Community School

J.m. Alexander Middle School

North Mecklenburg High School

FINANCIALS

$243,000$297,00000$270,000

$1,377$1,68300$1,530

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$270,000

$1,530

0.57%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$996

7.58

$30,204

$270,000

$134.66

$261,402

$130.38

COMPS RANGE

PRICE COMPS ANALYSIS

$1,530

$0.76

$1,569

$0.78

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS