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5628 Nicholas Avenue Charlotte, NC 28269

3 Beds 2 Baths 1,779 sqft Built 1956

$275,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $154.58
  • 10 Days on Market
  • MLS # : 3696831
  • Updated Date : 01/15/2021 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,779 sqft
  • Baths : 2 full
Listing Agent

Infinity Realty

Listing Agent's Description

Wonderful brick ranch with one car garage and double carport on 0.7 plus acres! Three full bedrooms and an office/flex room give versatility in today's work from home environment! Easy access to interstates and shopping areas, and minutes from major business centers and the airport. Newer roof, updated countertops and a true wood burning fireplace, this home is ready for your personal touches and offers plenty of space to grow!

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: West Sugar Creek

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $106k235k

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

Neighborhood: West Sugar Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8421518

* 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
Winding Springs Elementary School Primary Regular 859 60 3
James Martin Middle School Middle Regular 1,113 54 3
North Mecklenburg High School High Regular 1,881 101 3

Winding Springs Elementary School

  • Education Level: Primary
  • # of students: 859
  • # of teachers: 60
3
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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$955
Property Tax -$240
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$35

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$275,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
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

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$17,315

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,432

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,355
1$1,3552$1,4003$1,4104$1,4655$1,495
$1,495
RENT COMPS ANALYSIS
  • 5628 Nicholas Avenue Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,779 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,779 Sqft ∙ Built 1956
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.79
    •  
  • 8214 Braids Bend Court Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 2002
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,355
    • $0.81
    •  
  • 4005 Chandler Haven Drive Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,713 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,713 Sqft ∙ Built 2008
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.82
    •  
  • 4908 Gibbons Link Road Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,897 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,897 Sqft ∙ Built 2017
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,465
    • $0.77
    •  
  • 6711 Horace Mann Road Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,817 Sqft ∙ Built 1999
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.82
    •  
PROPERTY LISTING DETAILS
Lambros Balatsias
1.704.574.5020
Infinity Realty
BESbswy