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5714 Bentgrass Run Drive Charlotte, NC 28269

3 Beds 3 Baths 1,736 sqft Built 1999

$285,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $164.17
  • 5 Days on Market
  • MLS # : 3693395
  • Updated Date : 12/26/2020 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,736 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redwood Realty Group Llc

Listing Agent's Description

Welcoming and charming home you will be excited to come back to or stay in all day (COVID living, anyone?) Coveted location just a few miles from I-85, I-485 and I-77! Downstairs offers a beautiful fireplace, freshly painted walls, updated floors and kitchen appliances (except refrigerator). 3 bedrooms and 2.5 bathrooms. All bedrooms upstairs and each has own walk in closet. Spacious master bath set up with shower, garden tub and two vanities. Two car garage. Fenced backyard. Blazing internet options! Washer, dryer, wall TV, radio CD, wall phone and outside grills included (talk about some extra bang for your buck). HURRY - this one's going to fly off the market!

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: Whistler's Chase

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Whistler's Chase

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Highland Creek Elementary School Primary Regular 1,105 57 7
Ridge Road Middle School Middle Regular 1,285 65 6
Mallard Creek High School High Regular 2,472 123 6

Highland Creek Elementary School

  • Education Level: Primary
  • # of students: 1,105
  • # of teachers: 57
7
GreatSchools Rating

Ridge Road Middle School

  • Education Level: Middle
  • # of students: 1,285
  • # of teachers: 65
6
GreatSchools Rating

Mallard Creek High School

  • Education Level: High
  • # of students: 2,472
  • # of teachers: 123
6
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,052
Property Tax -$248
Property Insurance -$60
HOA -$54
Property Management Fees -$119
CASH FLOW
-$33

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.

$285,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.6%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$17,834

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,519

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6003$1,6004$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 5714 Bentgrass Run Drive Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,736 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,736 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.86
    •  
  • 8904 Kestral Ridge Drive Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,840 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,840 Sqft ∙ Built 2001
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.87
    •  
  • 9724 Kestral Ridge Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,768 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,768 Sqft ∙ Built 2002
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.90
    •  
  • 4958 Bentgrass Run Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 1,906 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,906 Sqft ∙ Built 1999
    property image
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.84
    •  
  • 9011 Kestral Ridge Drive Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,870 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,870 Sqft ∙ Built 2000
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.86
    •  
PROPERTY LISTING DETAILS
Sunnie Henry
1.704.778.5811
Redwood Realty Group Llc
BESbswy