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5700 Sugarcane Court #25 Mint Hill, NC 28227

3 Beds 3 Baths 2,820 sqft Built 2003

$449,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $159.22
  • -1 Days on Market
  • MLS # : CAR3761481
  • Updated Date : 07/12/2021 at 15:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,820 sqft
  • Baths : 3 full
Listing Agent

Engel & Völkers Uptown Charlotte

Listing Agent's Description

Beautiful home in Mint Hill. Private lot on cul de sac. Bedroom/Bathroom on main floor with separate living room/study. Large family room with fireplace over looking large deck and wooded backyard. Needs some TLC but will be a great place to call home!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Mint Hill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $113k291k

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

Neighborhood: Mint Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8421713

* 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
Clear Creek Elementary School Primary Regular 647 37 6
Northeast Middle School Middle Regular 739 45 3
Independence High School High Regular 2,349 128 6

Clear Creek Elementary School

  • Education Level: Primary
  • # of students: 647
  • # of teachers: 37
6
GreatSchools Rating

Northeast Middle School

  • Education Level: Middle
  • # of students: 739
  • # of teachers: 45
3
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 2,349
  • # of teachers: 128
6
GreatSchools Rating
 

$404,100$493,900$449,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,560
Property Tax -$336
Property Insurance -$80
HOA -$8
Property Management Fees -$119
CASH FLOW
-$123

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.

$449,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.2%
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$1.2M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,735

INVESTMENT

$124,735

Down Payment
$112,250
Rehab Estimate
$5,750
Closing Costs
$6,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,560

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,250
Loan Amount $336,750
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$14,987

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,840

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6953$1,7354$1,8955$1,950
$1,950
RENT COMPS ANALYSIS
  • 5700 Sugarcane Court #25 Mint Hill, NC 1
    • 3 beds 3 baths ∙ 2,820 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,820 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 12921 Longstraw Road #152 Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 2015
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.68
    •  
  • 9334 Magnolia Lily Avenue Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,723 Sqft ∙ Built 4 beds 3 baths ∙ 2,723 Sqft ∙ Built
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,735
    • $0.64
    •  
  • 10612 Ebony Tress Lane Mint Hill, NC 4
    • 4 beds 3 baths ∙ 2,920 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,920 Sqft ∙ Built 2017
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.65
    •  
  • 7320 Cedarfield Road Charlotte, NC 5
    • 4 beds 3 baths ∙ 3,026 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,026 Sqft ∙ Built 2015
    LEASED 06/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.64
    •  
PROPERTY LISTING DETAILS
Rashad Davis
1.980.321.7244
Engel & Völkers Uptown Charlotte
BESbswy