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5928 Oakwielde Court Mint Hill, NC 28227

3 Beds 3 Baths 2,920 sqft Built 1975

$339,900

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $116.40
  • 4 Days on Market
  • MLS # : 3715759
  • Updated Date : 03/13/2021 at 14:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,920 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allen Tate Matthews/mint Hill

Listing Agent's Description

Ready for your Buyers choice of updates! Lots of potential in this spacious home in desirable Farmwood. It offers a formal Living Room, formal Dining Room, Den and extra large Rec Room off the Kitchen. Kitchen has solid surface countertops, built in oven and electric cooktop. The two fireplaces, wet bar area, large screened porch and gazebo that overlooks the inground pool, all make this the perfect home for entertaining! Nicely landscaped fenced area around the pool. Additional level backyard behind the pool fence. Detached 2 car garage with work space. Home sits on almost an acre and on a cul de sac lot in a great Mint Hill Location! No HOA! HVAC replaced in 2018.

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: Farmwood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $118k324k

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

Neighborhood: Farmwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441811

* 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
Lebanon Road Elementary School Primary Regular 781 54 6
Northeast Middle School Middle Regular 739 45 3
Independence High School High Regular 2,349 128 6

Lebanon Road Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 54
6
GreatSchools Rating

Northeast Middle School

  • Education Level: Middle
  • # of students: 739
  • # of teachers: 45
3
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 2,349
  • # of teachers: 128
6
GreatSchools Rating
 

$305,910$373,890$339,900

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,181
Property Tax -$275
Property Insurance -$82
Property Management Fees -$119
CASH FLOW
$184

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.

$339,900

PROJECTED PRICE

$1,840

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 9.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$38,586

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $1,876

    COMP ESTIMATED VALUE
  • $0.64

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8003$1,8404$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 5928 Oakwielde Court Mint Hill, NC 3
    • 3 beds 3 baths ∙ 2,920 Sqft ∙ Built 1975 3 beds 3 baths ∙ 2,920 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.63
    •  
  • 9210 Camberwell Road Mint Hill, NC 1
    • 3 beds 2 baths ∙ 2,900 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,900 Sqft ∙ Built 2007
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.59
    •  
  • 7627 Kuck Road Mint Hill, NC 2
    • 4 beds 3 baths ∙ 3,030 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,030 Sqft ∙ Built 2006
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.59
    •  
  • 8035 Goodall Court Mint Hill, NC 4
    • 4 beds 3 baths ∙ 2,795 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,795 Sqft ∙ Built 2015
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.72
    •  
  • 6222 Robin Hollow Drive Mint Hill, NC 5
    • 4 beds 3 baths ∙ 3,130 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,130 Sqft ∙ Built 2001
    LEASED 03/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.67
    •  
PROPERTY LISTING DETAILS
Kathy Hindman
1.704.579.3640
Allen Tate Matthews/mint Hill
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3715759
Last Updated: 03/13/2021
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