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5910 Ashebrook Drive Concord, NC 28025

4 Beds 3 Baths 2,216 sqft Built 2002

$263,500

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $118.91
  • 5 Days on Market
  • MLS # : 3683021
  • Updated Date : 11/21/2020 at 12:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,216 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathaway Homeservices Carolinas Realty

Listing Agent's Description

Located in the quiet Ashebrook neighborhood of Concord, this 4 bedroom, 2.5 bath home is just what you are looking for. New roof in 2018 & Air Conditioner in 2013, this home has charm with main floor laminate flooring, gas fireplace and formal living and dining areas. Upstairs the spacious master retreat offers tons of natural light, vaulted ceiling and large master bath with garden tub and walk in closet. Laundry upstairs makes life easier so no more lugging laundry baskets around. Fenced in yard and low HOA fees make this home a great choice. Showings to begin November 21st at 10am.

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: Ashebrook

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220kPrice in $113k221k

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

Neighborhood: Ashebrook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8401535

* 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
A T Allen Elementary School Primary Regular 925 59 5
C C Griffin Middle School Middle Regular 1,092 70 4
Central Cabarrus High School High Regular 1,416 88 4

A T Allen Elementary School

  • Education Level: Primary
  • # of students: 925
  • # of teachers: 59
5
GreatSchools Rating

C C Griffin Middle School

  • Education Level: Middle
  • # of students: 1,092
  • # of teachers: 70
4
GreatSchools Rating

Central Cabarrus High School

  • Education Level: High
  • # of students: 1,416
  • # of teachers: 88
4
GreatSchools Rating
 

$237,150$289,850$263,500

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$972
Property Tax -$199
Property Insurance -$69
HOA -$22
Property Management Fees -$130
CASH FLOW
$49

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.

$263,500

PROJECTED PRICE

$1,440

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.9%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,578

INVESTMENT

$75,578

Down Payment
$65,875
Rehab Estimate
$5,750
Closing Costs
$3,953

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$972

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,875
Loan Amount $197,625
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$17,027

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,596

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4403$1,5954$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 5910 Ashebrook Drive Concord, NC 2
    • 4 beds 3 baths ∙ 2,216 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,216 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.65
    •  
  • 1354 Piney Church Road Concord, NC 1
    • 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 2003
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.68
    •  
  • 5928 Firethorne Lane Concord, NC 3
    • 4 beds 3 baths ∙ 2,284 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,284 Sqft ∙ Built 2003
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.70
    •  
  • 1537 Piney Church Road Concord, NC 4
    • 4 beds 3 baths ∙ 2,177 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,177 Sqft ∙ Built 2005
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.73
    •  
  • 1445 Piney Church Road Concord, NC 5
    • 5 beds 3 baths ∙ 2,328 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,328 Sqft ∙ Built 2004
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.71
    •  
PROPERTY LISTING DETAILS
Melissa Zimmerman
1.440.503.3580
Berkshire Hathaway Homeservices Carolinas Realty
BESbswy