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PROPERTY INFO
FACTS
- Single Family
- Built In 1950
- Price/Sqft : $129.17
- 2 Days on Market
- MLS # : 3702289
- Updated Date : 02/20/2021 at 21:07
CONSTRUCTION
- Beds : 3
- Floor Size : 1,409 sqft
- Baths : 1 full , 1 half
Listing Agent
Keller Williams South Park
Listing Agent's Description
Are you looking for a home near downtown Concord? You have found it. Walk to the coffee shop, bakery, restaurants, shops, brewery and more. Check out this curb appeal...then you walk right into the large open living area and dinning area with a ton of natural light. Wait until you see the back closed in porch/sunroom. What a great way to spend your mornings with a cup of coffee or your evenings entertaining.
SEE MORE
- 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: Brookwood
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Brookwood
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,120 |
| EXPENSES | Loan Payment | -$632 |
| Property Tax | -$192 | |
| Property Insurance | -$54 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$123
|
||
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.
$182,000
PROJECTED PRICE
$1,120
PROJECTED RENT
0.62%
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
$53,980
LOAN DETAILS
$632
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $45,500 |
| Loan Amount | $136,500 |
8.5
YEARS SAVED
$20,356
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,120
LIST RENT -
$0.79
LIST RENT PER SQFT
-
$1,215
COMP ESTIMATED VALUE -
$0.86
COMP AVG. RENT PER SQFT
Comps Range
-
61 Creswell Drive Concord, NC 3
- 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 1950
- Rent
- Rent Per SQFT
- $1,120
- $0.79
-
94 Wilkinson Court Se Concord, NC 1
- 3 beds 2 baths ∙ 1,203 Sqft ∙ Built 1935 3 beds 2 baths ∙ 1,203 Sqft ∙ Built 1935
LEASED 05/27/20- Rent
- Rent Per SQFT
- $995
- $0.83
-
150 Franklin Avenue Nw Concord, NC 2
- 3 beds 1 baths ∙ 1,216 Sqft ∙ Built 1940 3 beds 1 baths ∙ 1,216 Sqft ∙ Built 1940
LEASED 05/06/20- Rent
- Rent Per SQFT
- $1,045
- $0.86
-
262 Buffalo Avenue Concord, NC 4
- 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1900 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1900
LEASED 02/28/20- Rent
- Rent Per SQFT
- $1,150
- $0.88
-
386 Aycock Street Concord, NC 5
- 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1948
LEASED 01/22/20- Rent
- Rent Per SQFT
- $1,250
- $0.88
PROPERTY LISTING DETAILS
1.704.628.4066
Keller Williams South Park
MLS #: 3702289
Last Updated: 02/20/2021
