Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

5724 Selkirkshire Road Charlotte, NC 28278

3 Beds 3 Baths 2,745 sqft Built 2015

$369,900

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $134.75
  • 2 Days on Market
  • MLS # : 3678273
  • Updated Date : 11/02/2020 at 12:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,745 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams South Park

Listing Agent's Description

Gorgeous showcase home in the highly sought after Berewick neighborhood.Would you like a $34 AVG monthly electricity bill, you can with this homes $23K solar panel upgrade.This meticulously maintained home features a bright+sunny open floor plan w/enclosed office,spacious kitchen w/tons of cabinets+HUGE kitchen island.This home is designed for entertaining+gatherings w/its beautiful sunroom off the kitchen+Living room.Living room also features upgraded gas stone fireplace.Upstairs you will find a generous loft/play room,2 large secondary bedrooms + spacious master suite w/tray ceiling,walk in closet,shower w/separate garden tub,dual vanity.Tankless Gas Hot Water.Backyard you will enjoy a large private usable area w/no homes behind you.Berewick is a wonderful community w/tons of amenities including outdoor pool,clubhouse,fitness center,playground,sidewalks,+walking trails.Tons of shopping +dining nearby.Located close to uptown Charlotte, Ballantyne,Airport,Lake Wylie,Premium Outlets+485

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: Berewick

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Berewick

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8441914

* 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
Berewick Elementary School Primary Regular 601 38 6
Kennedy Middle School Middle Regular 722 43 4
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

Berewick Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 38
6
GreatSchools Rating

Kennedy Middle School

  • Education Level: Middle
  • # of students: 722
  • # of teachers: 43
4
GreatSchools Rating

Math, Engineering, Technology And Science At Olympic High School

  • Education Level: High
  • # of students: 607
  • # of teachers: 28
7
GreatSchools Rating
 

$332,910$406,890$369,900

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,365
Property Tax -$323
Property Insurance -$79
HOA -$67
Property Management Fees -$176
CASH FLOW
-$58

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.

$369,900

PROJECTED PRICE

$1,950

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.0%
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-$4.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,774

INVESTMENT

$103,774

Down Payment
$92,475
Rehab Estimate
$5,750
Closing Costs
$5,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,475
Loan Amount $277,425
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$15,921

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,031

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9503$1,9954$1,9955$2,095
$2,095
RENT COMPS ANALYSIS
  • 5724 Selkirkshire Road Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,745 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,745 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.71
    •  
  • 6633 Evanton Loch Road Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,585 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,585 Sqft ∙ Built 2005
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.68
    •  
  • 10109 Halkirk Manor Lane Charlotte, NC 3
    • 3 beds 3 baths ∙ 2,696 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,696 Sqft ∙ Built 2005
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.74
    •  
  • 7308 Hamilton Bridge Road Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 2016
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.76
    •  
  • 5908 Bonny Bridge Court Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2006
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.78
    •  
PROPERTY LISTING DETAILS
Laura Filmanski
1.845.545.8377
Keller Williams South Park
BESbswy