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PROPERTY INFO
FACTS
- Single Family
- Built In 2021
- Price/Sqft : $130.40
- 2 Days on Market
- MLS # : 3682542
- Updated Date : 11/14/2020 at 15:00
CONSTRUCTION
- Beds : 5
- Floor Size : 2,454 sqft
- Baths : 3 full
Listing Agent
Dr Horton Inc
Listing Agent's Description
WOW what Wonderful Home & Value! A Brand New 5 bedroom Home with a warranty and includes Granite kitchen countertops w/tile backsplash, 9ft. ceilings and Rev-wood laminate flooring throughout the main floor, A Gas vented Fireplace and Home is Connected (smart home) includes programmable thermostat, Z-wave door lock and wireless switch, touchscreen control device, automation platform, video doorbell and Amazon Echo Dot and Show 5. All home features are subject to change without notice. Internet service not included. Community is close to shopping, restaurants and I-485. 4 bedrooms, double sinks in guest bath, LED Lighting throughout the home, and Deluxe Master Bath with Garden Tub and separate shower in the Owner's suite. Concord Mills Mall, Restaurants, and Shopping only minutes away! Pictures, photographs, colors, features, and sizes are for ILLUSTRATION PURPOSES ONLY and will vary from homes as built. Come and get it before it's GONE!
SEE MORE
- 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: Silverwood
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Silverwood
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,850 |
| EXPENSES | Loan Payment | -$1,181 |
| Property Tax | -$299 | |
| Property Insurance | -$73 | |
| HOA | -$63 | |
| Property Management Fees | -$167 | |
|
CASH FLOW
$68
|
||
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.
$319,990
PROJECTED PRICE
$1,850
PROJECTED RENT
0.58%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 8.1% |
| Maintenance Year (1-5) | 3.00% |
| Vacancy | 6.57% |
| 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
$86,797
LOAN DETAILS
$1,181
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $79,998 |
| Loan Amount | $239,993 |
5.08
YEARS SAVED
$20,242
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,850
LIST RENT -
$0.75
LIST RENT PER SQFT
-
$1,798
COMP ESTIMATED VALUE -
$0.73
COMP AVG. RENT PER SQFT
Comps Range
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6308 Ellimar Field Lane Charlotte, NC 5
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8207 Fox Swamp Road Charlotte, NC 1
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LEASED 11/16/19- Rent
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- $1,585
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7526 Salinger Way Charlotte, NC 2
- 4 beds 3 baths ∙ 2,216 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,216 Sqft ∙ Built 2003
LEASED 05/01/20- Rent
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- $1,585
- $0.72
-
4213 Stockbrook Drive Charlotte, NC 3
- 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2020
LEASED 06/09/20- Rent
- Rent Per SQFT
- $1,750
- $0.73
-
4225 Stockbrook Drive Charlotte, NC 4
- 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2020
LEASED 05/27/20- Rent
- Rent Per SQFT
- $1,750
- $0.73
PROPERTY LISTING DETAILS
1.704.576.9208
Dr Horton Inc
