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5815 Coatbridge Lane Charlotte, NC 28212

3 Beds 3 Baths 2,334 sqft Built 1971

$349,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $149.53
  • 5 Days on Market
  • MLS # : 3683203
  • Updated Date : 11/22/2020 at 00:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,334 sqft
  • Baths : 3 full
Listing Agent

Pridemore Properties

Listing Agent's Description

Spacious Full Brick Ranch in sought after McClintock Woods. 3 bedroom, 3 full baths, master with updated master bathroom. Interior neutrally painted throughout, hardwood floors refinished, and new carpet in large bonus room. Nice white open kitchen with solid surface countertops with dining area that leads into dining room and front living room. Den with brick gas log fireplace opens to large bonus room with full bathroom and 2 new sliding doors to back screened deck and side porch. Large private fenced back yard with storage shed. Conveniently located to parks, schools, shopping, access to Cotswold, South Park and Uptown Charlotte. Ranch homes like this don't last, come see!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: East Forest

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: East Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600Rent in $6771643

* 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
Rama Road Elementary School Primary Regular 591 41 4
Mcclintock Middle School Middle Regular 855 55 3
East Mecklenburg High School High Regular 1,840 111 6

Rama Road Elementary School

  • Education Level: Primary
  • # of students: 591
  • # of teachers: 41
4
GreatSchools Rating

Mcclintock Middle School

  • Education Level: Middle
  • # of students: 855
  • # of teachers: 55
3
GreatSchools Rating

East Mecklenburg High School

  • Education Level: High
  • # of students: 1,840
  • # of teachers: 111
6
GreatSchools Rating
 

$314,100$383,900$349,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,288
Property Tax -$308
Property Insurance -$71
Property Management Fees -$167
CASH FLOW
$17

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.

$349,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 4.5%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,288

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$19,395

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,908

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,8503$1,8504$1,8955$2,000
$2,000
RENT COMPS ANALYSIS
  • 5815 Coatbridge Lane Charlotte, NC 3
    • 3 beds 3 baths ∙ 2,334 Sqft ∙ Built 1971 3 beds 3 baths ∙ 2,334 Sqft ∙ Built 1971
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.79
    •  
  • 2220 Knickerbocker Drive Charlotte, NC 1
    • 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 1971 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 1971
    property image
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.72
    •  
  • 4320 Craig Avenue Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 1970 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 1970
    property image
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.85
    •  
  • 5911 Doncaster Drive Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,104 Sqft ∙ Built 1971 3 beds 3 baths ∙ 2,104 Sqft ∙ Built 1971
    property image
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.90
    •  
  • 1123 Lynnbrook Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,606 Sqft ∙ Built 1960 4 beds 3 baths ∙ 2,606 Sqft ∙ Built 1960
    property image
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.77
    •  
PROPERTY LISTING DETAILS
Rob Hall
1.704.577.4787
Pridemore Properties
BESbswy