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60 Longbranch Lane Tryon, NC 28782

3 Beds 2 Baths 2,067 sqft Built 1964

$330,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $159.65
  • 2 Days on Market
  • MLS # : CAR3761195
  • Updated Date : 07/12/2021 at 18:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,067 sqft
  • Baths : 2 full
Listing Agent

Tryon Foothills Realty

Listing Agent's Description

Located just minutes from downtown Tryon on a private road, this 3 BR, 2 Bath home is ready to be your dream home. Kitchen with ample cabinet space, granite counters and tile floor. Dining room off kitchen. This room could serve many purposes; family room, game room, billiard room. It also has a closeted laundry. LR with FP (gas now, wood possible), hardwood floors, beamed ceiling and lots of window light. Good size bedrooms have hardwood floors and deep closets. Detached L-shaped double garage with 20x28 workshop area and 2 car garage. Large grassy area to the left of workshop building bordered in the front by a stream.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 28782

ZipNIR Market*City2018Year2016 Q32019220k230k240k250k260k270k280kPrice in $219k288k

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

Zip Code: 28782

No Data Available.

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,146
Property Tax -$155
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$344

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.

$330,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 0.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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$0.0$5.0k$10k$15k$20k

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$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

10.5

YEARS SAVED

$52,328

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,356

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,830
1$1,8302$2,700
$2,700
RENT COMPS ANALYSIS
  • 60 Longbranch Lane Tryon, NC 1
    • 3 beds 2 baths ∙ 2,067 Sqft ∙ Built 1964 3 beds 2 baths ∙ 2,067 Sqft ∙ Built 1964
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.89
    •  
  • 100 Melrose Circle Tryon, NC 2
    • 3 beds 3 baths ∙ 2,367 Sqft ∙ Built 1931 3 beds 3 baths ∙ 2,367 Sqft ∙ Built 1931
    property image
    LEASED 03/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.14
    •  
PROPERTY LISTING DETAILS
Genie Dumoulin
1.828.817.8133
Tryon Foothills Realty
BESbswy