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PROPERTY INFO
FACTS
- Single Family
- Built In 1967
- Price/Sqft : $166.20
- 13 Days on Market
- MLS # : 3681051
- Updated Date : 11/18/2020 at 16:58
CONSTRUCTION
- Beds : 4
- Floor Size : 1,775 sqft
- Baths : 2 full , 1 half
Listing Agent
Wilkinson Era Real Estate
Listing Agent's Description
Remodeled to perfection! This beautiful 4 bedrooms, 2 1/2 bathrooms, home is just minutes away from plaza Midwood, uptown, university, shopping, dining and a park. Here are just a few of its completely remodeled features: new modern kitchen offering, new kitchen cabinets, mosaic backsplash, quartz island top with plenty of storage, new country porcelain sink, electric stove and microwave, marble tile, modern lighting throughout the house, dining area has nice glass sliding doors that lead to the deck, new wooden tile flooring, completely remodeled bathrooms with marble tiles, the master bedroom offering a frameless glass shower door giving it a clean and sleek look, and plenty of closet storage, completely new electrical, pvc plumbing, energy efficient windows, new furnace, A.C, and a concrete driveway.
SEE MORE
- 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: Eastway
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Eastway
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,500 |
| EXPENSES | Loan Payment | -$1,088 |
| Property Tax | -$257 | |
| Property Insurance | -$61 | |
| Property Management Fees | -$135 | |
|
CASH FLOW
-$41
|
||
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.
$295,000
PROJECTED PRICE
$1,500
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.94% |
| Appreciation Year (1-5) | 5.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.02% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$83,925
LOAN DETAILS
$1,088
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $73,750 |
| Loan Amount | $221,250 |
3.58
YEARS SAVED
$11,724
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 -
$0.85
LIST RENT PER SQFT
-
$1,420
COMP ESTIMATED VALUE -
$0.8
COMP AVG. RENT PER SQFT
Comps Range
-
5830 Barrington Drive Charlotte, NC 5
- 4 beds 3 baths ∙ 1,775 Sqft ∙ Built 1967 4 beds 3 baths ∙ 1,775 Sqft ∙ Built 1967
- Rent
- Rent Per SQFT
- $1,500
- $0.85
-
1115 Farrior Drive Charlotte, NC 1
- 3 beds 2 baths ∙ 1,426 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,426 Sqft ∙ Built 1960
LEASED 10/23/20- Rent
- Rent Per SQFT
- $1,150
- $0.81
-
6615 Farmway Place Charlotte, NC 2
- 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1970
LEASED 12/27/19- Rent
- Rent Per SQFT
- $1,200
- $0.73
-
5819 Ruth Drive Charlotte, NC 3
- 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1965 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1965
LEASED 05/01/20- Rent
- Rent Per SQFT
- $1,250
- $0.83
-
9409 Newell Hickory Grove Road Charlotte, NC 4
- 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 2007
LEASED 04/25/20- Rent
- Rent Per SQFT
- $1,350
- $0.83
PROPERTY LISTING DETAILS
1.704.254.2413
Wilkinson Era Real Estate
