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619 R L Stowe Road #Lot 98 Belmont, NC 28012

4 Beds 3 Baths 2,654 sqft Built 2021

$414,000

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $155.99
  • 4 Days on Market
  • MLS # : 3702836
  • Updated Date : 01/28/2021 at 08:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,654 sqft
  • Baths : 3 full
Listing Agent

Eastwood Homes

Listing Agent's Description

Ask about move-in specials on this home that features a rear screened porch! This beautiful Montague plan has four bedrooms, three baths, and more than 2,600 square feet. The guest suite on the main features a 5-foot walk-in shower. Other rooms on the main include a dining room with tray ceiling and an open family room/kitchen/breakfast with Enhanced Vinyl Plank flooring. The kitchen has white cabinets accented with a stone gray island. The master bath has white cabinets while stone gray is featured in the secondary baths. Other awesome upgrades include stainless appliances in the kitchen, a gas fireplace with marble surround, oak tread stairs, a luxury master shower with a bench seat, and a double-bowl vanity in the upstairs hall bath. Ask about the Smart Home features INCLUDED in this home! Find out more about this charming community within walking distance to schools and shopping!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Central Belmont

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210kPrice in $113k213k

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

Neighborhood: Central Belmont

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350Rent in $8421396

* 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
Belmont Central Elementary School Primary Regular 678 35 7
Belmont Middle School Middle Regular 726 39 6
South Point High School High Regular 1,101 61 6

Belmont Central Elementary School

  • Education Level: Primary
  • # of students: 678
  • # of teachers: 35
7
GreatSchools Rating

Belmont Middle School

  • Education Level: Middle
  • # of students: 726
  • # of teachers: 39
6
GreatSchools Rating

South Point High School

  • Education Level: High
  • # of students: 1,101
  • # of teachers: 61
6
GreatSchools Rating
 

$372,600$455,400$414,000

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,438
Property Tax -$292
Property Insurance -$77
HOA -$33
Property Management Fees -$119
CASH FLOW
$541

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$414,000

PROJECTED PRICE

$2,500

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 3.00%
Vacancy 6.57%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,710

INVESTMENT

$111,710

Down Payment
$103,500
Rehab Estimate
$2,000
Closing Costs
$6,210

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$1,438

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,500
Loan Amount $310,500
See What Happens When You Reinvest Cash Flow

12.25

YEARS SAVED

$82,386

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,462

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,199
1$2,1992$2,4953$2,5004$2,5955$2,650
$2,650
RENT COMPS ANALYSIS
  • 619 R L Stowe Road Belmont, NC 3
    • 4 beds 3 baths ∙ 2,654 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,654 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.94
    •  
  • 1012 Mclaren Drive Belmont, NC 1
    • 4 beds 3 baths ∙ 2,792 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,792 Sqft ∙ Built 2011
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,199
    • $0.79
    •  
  • 316 S Main Street Belmont, NC 2
    • 3 beds 3 baths ∙ 2,620 Sqft ∙ Built 1930 3 beds 3 baths ∙ 2,620 Sqft ∙ Built 1930
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.95
    •  
  • 132 Berkshire Avenue Belmont, NC 4
    • 3 beds 3 baths ∙ 2,557 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,557 Sqft ∙ Built 2003
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.01
    •  
  • 4520 Brent Wood Drive Belmont, NC 5
    • 4 beds 3 baths ∙ 2,639 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,639 Sqft ∙ Built 2001
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
Michael Conley
1.704.907.0699
Eastwood Homes
BESbswy