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PROPERTY INFO
FACTS
- Single Family
- Built In 1994
- Price/Sqft : $158.16
- 4 Days on Market
- MLS # : 3718204
- Updated Date : 03/20/2021 at 20:35
CONSTRUCTION
- Beds : 5
- Floor Size : 2,529 sqft
- Baths : 3 full , 1 half
Listing Agent
Wilkinson Era Real Estate
Listing Agent's Description
BASEMENT home in desirable S. Chlt location! Quick 15-20 min drive to uptown! Kitchen w/granite c-tops, tile backsplash, island, SS appliances, walk-in pantry, built-in desk, breakfast area, recessed lights. Kitchen opens to family room w/vaulted ceiling & fireplace. Dining room w/tray ceiling leads to living room/den. Master bedroom has vaulted ceiling, walk-in closet w/custom shelving, en-suite bath w/dual sink vanity, jetted tub, tiled shower. 3 additional bedrooms & full bath on 2nd floor. Finished walk out basement w/fireplace, bedroom, full bath w/tile floors, VERY large tiled shower w/dual shower heads, bonus area AND rec area w/cabs, sink & mini-fridge (can be used as art studio, craft rm, bar/entertainment). Storage galore! NEW ROOF (Dec 2020). Wooded lot & easy access to Greenway. Good bit of cosmetic work is needed. Seeking buyer that is willing to take on a cosmetic project knowing the upside! Location is awesome, layout is great, lots of space - just needs some love.
SEE MORE
- 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: Sardis Forest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Sardis Forest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,340 |
| EXPENSES | Loan Payment | -$1,389 |
| Property Tax | -$402 | |
| Property Insurance | -$75 | |
| HOA | -$15 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$340
|
||
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.
$399,999
PROJECTED PRICE
$2,340
PROJECTED RENT
0.59%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 5.3% |
| 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
$111,750
LOAN DETAILS
$1,389
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $100,000 |
| Loan Amount | $299,999 |
9.92
YEARS SAVED
$57,508
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,340
LIST RENT -
$0.93
LIST RENT PER SQFT
-
$2,263
COMP ESTIMATED VALUE -
$0.9
COMP AVG. RENT PER SQFT
Comps Range
-
6120 Robley Tate Court Charlotte, NC 4
- 5 beds 4 baths ∙ 2,529 Sqft ∙ Built 1994 5 beds 4 baths ∙ 2,529 Sqft ∙ Built 1994
![property image]()
- Rent
- Rent Per SQFT
- $2,340
- $0.93
-
5301 Providence Road Charlotte, NC 1
- 4 beds 2 baths ∙ 2,245 Sqft ∙ Built 1968 4 beds 2 baths ∙ 2,245 Sqft ∙ Built 1968
![property image]()
LEASED 04/02/20- Rent
- Rent Per SQFT
- $1,849
- $0.82
-
7911 Sardis Creek Lane Charlotte, NC 2
- 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2011
![property image]()
LEASED 09/24/19- Rent
- Rent Per SQFT
- $1,850
- $0.84
-
6200 Cedar Croft Drive Charlotte, NC 3
- 4 beds 2 baths ∙ 2,520 Sqft ∙ Built 1958 4 beds 2 baths ∙ 2,520 Sqft ∙ Built 1958
![property image]()
LEASED 08/04/20- Rent
- Rent Per SQFT
- $2,300
- $0.91
-
6022 Old Providence Road Charlotte, NC 5
- 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1968
![property image]()
LEASED 05/01/20- Rent
- Rent Per SQFT
- $2,350
- $1.02
PROPERTY LISTING DETAILS
1.704.231.6732
Wilkinson Era Real Estate
MLS #: 3718204
Last Updated: 03/20/2021
