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5505 Bedfordshire Avenue Harrisburg, NC 28075

4 Beds 3 Baths 2,951 sqft Built 1986

$335,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $113.52
  • 6 Days on Market
  • MLS # : 3678994
  • Updated Date : 11/06/2020 at 17:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,951 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allen Tate University

Listing Agent's Description

Mark your calendars to view this full brick estate home starting Saturday, November 7th. Incredible opportunity to move into one of Harrisburg's iconic neighborhoods with wide lots, unique homes, brick exteriors, & mature trees. Property will be sold 'as is' allowing buyers the opportunity to design & customize their dream home. Over 3/4 acre wooded corner lot, incredible privacy. Zoned for highly rates Harrisburg schools. Nestled inside Harrisburg limits but just minutes to new shopping center, I-485 & other area highways, UNCC, & all that University Area & Concord have to offer.

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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: Camelot

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $118k387k

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

Neighborhood: Camelot

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8442005

* 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
Harrisburg Elementary School Primary Regular 912 53 8
Hickory Ridge Middle School Middle Regular 1,164 65 NA
Hickory Ridge High School High Regular 1,573 77 7

Harrisburg Elementary School

  • Education Level: Primary
  • # of students: 912
  • # of teachers: 53
8
GreatSchools Rating

Hickory Ridge Middle School

  • Education Level: Middle
  • # of students: 1,164
  • # of teachers: 65
NA
GreatSchools Rating

Hickory Ridge High School

  • Education Level: High
  • # of students: 1,573
  • # of teachers: 77
7
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,236
Property Tax -$240
Property Insurance -$83
Property Management Fees -$162
CASH FLOW
$80

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.

$335,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$28,303

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $1,852

    COMP ESTIMATED VALUE
  • $0.63

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,8004$1,8005$1,995
$1,995
RENT COMPS ANALYSIS
  • 5505 Bedfordshire Avenue Harrisburg, NC 4
    • 4 beds 3 baths ∙ 2,951 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,951 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.61
    •  
  • 10842 Glenluce Avenue Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,964 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,964 Sqft ∙ Built 2006
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.57
    •  
  • 5207 Hawkins Meadow Court Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 2013
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.63
    •  
  • 8927 Merrie Rose Avenue Charlotte, NC 3
    • 5 beds 3 baths ∙ 2,960 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,960 Sqft ∙ Built 2007
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.61
    •  
  • 5650 Berry Ridge Drive Harrisburg, NC 5
    • 5 beds 3 baths ∙ 2,854 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,854 Sqft ∙ Built 2000
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.70
    •  
PROPERTY LISTING DETAILS
Amy Baker
1.704.258.1459
Allen Tate University
BESbswy