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5850 Brookfield Pointe Drive Charlotte, NC 28216

3 Beds 3 Baths 1,533 sqft Built 2004

$210,000

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $136.99
  • 4 Days on Market
  • MLS # : 3678140
  • Updated Date : 10/31/2020 at 06:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,533 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams University City

Listing Agent's Description

Perfect investment property! The home is located near I-77 and I-485. The home features 3 bedrooms 2 1/2 bathrooms, new carpet upstairs, and new vanities in the bathrooms. The kitchen has granite counter tops with stainless steel appliances. Small bar area in the kitchen with room for a dining table. Wood burning fireplace in the living room. The home has been well kept!

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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: Oakdale North

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $97k235k

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

Neighborhood: Oakdale North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350140014501500Rent in $7901518

* 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
Oakdale Elementary School Primary Regular 646 38 2
Ranson Middle School Middle Regular 1,138 57 3
West Charlotte High School High Regular 1,777 109 3

Oakdale Elementary School

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 38
2
GreatSchools Rating

Ranson Middle School

  • Education Level: Middle
  • # of students: 1,138
  • # of teachers: 57
3
GreatSchools Rating

West Charlotte High School

  • Education Level: High
  • # of students: 1,777
  • # of teachers: 109
3
GreatSchools Rating
 

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

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$775
Property Tax -$183
Property Insurance -$56
HOA -$15
Property Management Fees -$114
CASH FLOW
$127

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$210,000

PROJECTED PRICE

$1,270

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 9.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

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 40% down payment or higher enables the proceeds from the asset to cover all costs.

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$21,892

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,384

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,270
1$1,2702$1,2993$1,4254$1,4955$1,525
$1,525
RENT COMPS ANALYSIS
  • 5850 Brookfield Pointe Drive Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,533 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,533 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.83
    •  
  • 2700 Stowmarket Place Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1989
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.89
    •  
  • 5509 Southminster Lane Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1990
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.88
    •  
  • 2628 Clarencefield Drive Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1994
    property image
    LEASED 06/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.91
    •  
  • 6134 Patric Alan Court Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 2002
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.93
    •  
PROPERTY LISTING DETAILS
Niya Streater
1.704.626.1041
Keller Williams University City
BESbswy