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6105 Trevor Simpson Drive Indian Trail, NC 28079

4 Beds 3 Baths 1,780 sqft Built 1998

$290,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $162.92
  • 8 Days on Market
  • MLS # : 3718136
  • Updated Date : 03/20/2021 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,780 sqft
  • Baths : 2 full , 1 half
Listing Agent

Prostead Realty

Listing Agent's Description

Beautiful Home in Desirable Lake Park! Many updates and extras here! You’ll love the feel of this home with wood laminate flooring on the main level. The living room has barnwood on wall above the fireplace! Sunny breakfast room. The kitchen has new granite countertops, all SS appliances and pantry. Formal dining room and powder room complete the main floor. Upstairs are two bedrooms plus a bedroom/bonus room and the master bedroom. The master is roomy and has a deep tray ceiling. The master bath has a deep spa tub, separate shower and dual sinks. Outside is a newly fenced in yard with a patio and playground equipment. Lake Park offers many amenities: a clocktower, community pool, tennis courts, basketball court, volleyball pit, 13 lakes & ponds and many parks and playgrounds. Great home, great community, great location & Union County schools! Come see for yourself!

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

Neighborhood: Lake Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Lake Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Poplin Elementary School Primary Regular 719 40 7
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Poplin Elementary School

  • Education Level: Primary
  • # of students: 719
  • # of teachers: 40
7
GreatSchools Rating

Porter Ridge Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 72
7
GreatSchools Rating

Porter Ridge High School

  • Education Level: High
  • # of students: 1,591
  • # of teachers: 77
7
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,007
Property Tax -$190
Property Insurance -$61
HOA -$7
Property Management Fees -$119
CASH FLOW
$297

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.

$290,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.4%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

11.17

YEARS SAVED

$48,590

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,669

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,6804$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 6105 Trevor Simpson Drive Indian Trail, NC 3
    • 4 beds 3 baths ∙ 1,780 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,780 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.94
    •  
  • 4411 Sages Avenue Indian Trail, NC 1
    • 3 beds 3 baths ∙ 1,692 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,692 Sqft ∙ Built 2005
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.92
    •  
  • 3804 Faith Church Road Indian Trail, NC 2
    • 4 beds 3 baths ∙ 1,756 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,756 Sqft ∙ Built 1996
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.88
    •  
  • 6005 Amber Court Indian Trail, NC 4
    • 4 beds 3 baths ∙ 1,782 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,782 Sqft ∙ Built 1997
    property image
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.98
    •  
  • 3910 Faith Church Road Indian Trail, NC 5
    • 4 beds 3 baths ∙ 1,924 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,924 Sqft ∙ Built 1999
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.94
    •  
PROPERTY LISTING DETAILS
Wendy Richards
1.704.604.6115
Prostead Realty
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3718136
Last Updated: 03/20/2021
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