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5812 Falstaff Drive Charlotte, NC 28227

3 Beds 2 Baths 1,434 sqft Built 1975

$265,000

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $184.80
  • 3 Days on Market
  • MLS # : 3720028
  • Updated Date : 03/20/2021 at 18:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,434 sqft
  • Baths : 2 full
Listing Agent

Golden Bridge Realty, Llc

Listing Agent's Description

Adorable Ranch on great in town street. Open floor plan. High Ceilings. Tons of windows. Living Room with fireplace. Chefs kitchen with granite countertops, stainless steel appliances. Large Master Bedroom. New 2019 roof. Wooden floors throughout the house. This house is a true gem!! NO HOA.

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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: Hickory Ridge

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Hickory Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771518

* 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
J.h. Gunn Elementary School Primary Regular 695 42 2
Albemarle Road Middle School Middle Regular 1,198 64 2
Rocky River High School High Regular 1,710 90 3

J.h. Gunn Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 42
2
GreatSchools Rating

Albemarle Road Middle School

  • Education Level: Middle
  • # of students: 1,198
  • # of teachers: 64
2
GreatSchools Rating

Rocky River High School

  • Education Level: High
  • # of students: 1,710
  • # of teachers: 90
3
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$920
Property Tax -$231
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$65

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.

$265,000

PROJECTED PRICE

$1,260

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$9,868

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,326

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,225
1$1,2252$1,2603$1,2954$1,3755$1,495
$1,495
RENT COMPS ANALYSIS
  • 5812 Falstaff Drive Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.88
    •  
  • 8119 Ivy Hollow Drive Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,292 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,292 Sqft ∙ Built 1979
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.95
    •  
  • 7916 Glencannon Drive Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1993
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.93
    •  
  • 6728 Raeburn Lane Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1986
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.90
    •  
  • 8019 Glencannon Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 1,608 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,608 Sqft ∙ Built 1989
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.93
    •  
PROPERTY LISTING DETAILS
Alla Yaroshevich
1.704.962.1034
Golden Bridge Realty, Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3720028
Last Updated: 03/20/2021
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