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5804 Carolina Manor Court Indian Trail, NC 28079

3 Beds 2 Baths 1,200 sqft Built 1998

$210,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $175.00
  • 5 Days on Market
  • MLS # : 3698495
  • Updated Date : 01/15/2021 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,200 sqft
  • Baths : 2 full
Listing Agent

Wilkinson Era Real Estate

Listing Agent's Description

Beautiful 3 bedroom 2 baths with 1 car garage. Spacious lot in a cul-de-sac. Move-in ready home ready for your buyer! New Granite countertops in kitchen and baths, ceramic tile backsplash, open window to kitchen from dining area. Vaulted ceilings in living and dining rooms. Both bathrooms have linen closet. Ceramic tile in living room, dining area and bedroom 2 Near all shopping, restaurants and hospitals.

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

Zip Code: 28079

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Zip Code: 28079

ZipNIR 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
Sardis Elementary School Primary Regular 592 45 8
Sun Valley Middle School Middle Regular 1,365 69 6
Sun Valley High School High Regular 1,306 76 7

Sardis Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 45
8
GreatSchools Rating

Sun Valley Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 69
6
GreatSchools Rating

Sun Valley High School

  • Education Level: High
  • # of students: 1,306
  • # of teachers: 76
7
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$729
Property Tax -$137
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
$295

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.

$210,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.3%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

12.67

YEARS SAVED

$42,059

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,323

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2753$1,3304$1,3855$1,395
$1,395
RENT COMPS ANALYSIS
  • 5804 Carolina Manor Court Indian Trail, NC 3
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $1.11
    •  
  • 4108 New Castle Lane Monroe, NC 1
    • 3 beds 2 baths ∙ 1,101 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,101 Sqft ∙ Built 1995
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.14
    •  
  • 6009 Brick Landing Drive Monroe, NC 2
    • 3 beds 2 baths ∙ 1,130 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,130 Sqft ∙ Built 1994
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $1.13
    •  
  • 5800 Carolina Manor Court Indian Trail, NC 4
    • 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1998
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,385
    • $1.06
    •  
  • 4007 Croftwood Lane Indian Trail, NC 5
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1994
    property image
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.06
    •  
PROPERTY LISTING DETAILS
Aida Marcial
1.704.576.1258
Wilkinson Era Real Estate
BESbswy