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PROPERTY INFO
FACTS
- Single Family
- Built In 1980
- Price/Sqft : $175.82
- 5 Days on Market
- MLS # : 3709596
- Updated Date : 02/20/2021 at 21:32
CONSTRUCTION
- Beds : 3
- Floor Size : 1,820 sqft
- Baths : 2 full
Listing Agent
Weichert Realtors Sally Awad Group
Listing Agent's Description
Beautiful home in Mint Hill Features 3 bedrooms, 2.5 bathrooms and 1820 square feet of living space, The large yard has a Shed ready with electrical wiring, as well as a large Leonard. Kitchen comes equipped with stainless steel Fridge, and Oven as well as Gas Cooktop. This stunning home has plenty of natural light, beautiful laminate hardwood floors, and afresh coat of paint through out. HVAC system installed in 2019 and Roof in 2018. Along with the Home also has a nice sized shed wired with electrical as well as an oversized garage and Leonard.
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: Farmwood
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Farmwood
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,570 |
| EXPENSES | Loan Payment | -$1,111 |
| Property Tax | -$249 | |
| Property Insurance | -$61 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$29
|
||
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.
$320,000
PROJECTED PRICE
$1,570
PROJECTED RENT
0.49%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$90,550
LOAN DETAILS
$1,111
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $80,000 |
| Loan Amount | $240,000 |
6.25
YEARS SAVED
$22,708
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,570
LIST RENT -
$0.86
LIST RENT PER SQFT
-
$1,624
COMP ESTIMATED VALUE -
$0.89
COMP AVG. RENT PER SQFT
Comps Range
-
6119 Storehouse Road Mint Hill, NC 5
- 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 1980
- Rent
- Rent Per SQFT
- $1,570
- $0.86
-
5623 Wyalong Drive Charlotte, NC 1
- 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 2007
LEASED 03/12/20- Rent
- Rent Per SQFT
- $1,450
- $0.91
-
11025 Ballards Pond Lane Matthews, NC 2
- 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 1992
LEASED 03/02/20- Rent
- Rent Per SQFT
- $1,500
- $0.88
-
4247 Bathurst Drive Charlotte, NC 3
- 3 beds 3 baths ∙ 1,837 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,837 Sqft ∙ Built 2006
LEASED 02/24/20- Rent
- Rent Per SQFT
- $1,535
- $0.84
-
9515 Mintworth Avenue Charlotte, NC 4
- 3 beds 3 baths ∙ 1,659 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,659 Sqft ∙ Built 2008
LEASED 08/17/20- Rent
- Rent Per SQFT
- $1,560
- $0.94
PROPERTY LISTING DETAILS
1.704.594.0661
Weichert Realtors Sally Awad Group
MLS #: 3709596
Last Updated: 02/20/2021
