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PROPERTY INFO
FACTS
- Single Family
- Built In 2017
- Price/Sqft : $99.55
- 6 Days on Market
- MLS # : 3636369
- Updated Date : 11/27/2020 at 08:11
CONSTRUCTION
- Beds : 4
- Floor Size : 2,662 sqft
- Baths : 2 full , 1 half
Listing Agent
Puma & Associates Realty, Inc.
Listing Agent's Description
Must see home in Oakbrooke! Great curb appeal w/ covered front porch & fully fenced yard! Sought after open floor plan w/ owner’s suite on main! Welcoming entry way leads to the dining room perfect for hosting gatherings. Eat-in kitchen w/ stainless steel appliances, center island w/ breakfast bar, pantry & tons of cabinet space. Great room w/ lots of natural light and access to the backyard. Elegant owner's retreat w/ walk in closet. En-suite bath w/ dual vanity, shower & separate soaking tub. Spacious secondary bedrooms, large loft, bathroom on second floor! Spacious backyard w/ patio is perfect for grilling & entertaining! Great Charlotte location, close to schools, parks, restaurants & shopping! Easy access to UNC Charlotte, Northlake mall area, I-77, I-85 & I-485!
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: West Sugar Creek
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: West Sugar Creek
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,790 |
| EXPENSES | Loan Payment | -$978 |
| Property Tax | -$235 | |
| Property Insurance | -$77 | |
| HOA | -$17 | |
| Property Management Fees | -$161 | |
|
CASH FLOW
$323
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.
$265,000
PROJECTED PRICE
$1,790
PROJECTED RENT
0.68%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 8.4% |
| Maintenance Year (1-5) | 8.00% |
| 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
$75,975
LOAN DETAILS
$978
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $66,250 |
| Loan Amount | $198,750 |
10.33
YEARS SAVED
$47,730
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,790
LIST RENT -
$0.67
LIST RENT PER SQFT
-
$1,804
COMP ESTIMATED VALUE -
$0.68
COMP AVG. RENT PER SQFT
Comps Range
-
6931 Nathan Drive Charlotte, NC 5
- 4 beds 3 baths ∙ 2,662 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,662 Sqft ∙ Built 2017
- Rent
- Rent Per SQFT
- $1,790
- $0.67
-
8428 Panglemont Drive Charlotte, NC 1
- 4 beds 3 baths ∙ 2,388 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,388 Sqft ∙ Built 2007
LEASED 07/09/20- Rent
- Rent Per SQFT
- $1,600
- $0.67
-
8735 Earthenware Drive Charlotte, NC 2
- 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2006
LEASED 10/07/20- Rent
- Rent Per SQFT
- $1,665
- $0.69
-
8422 Oak Drive Ne Charlotte, NC 3
- 5 beds 3 baths ∙ 2,632 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,632 Sqft ∙ Built 2006
LEASED 08/01/19- Rent
- Rent Per SQFT
- $1,675
- $0.64
-
6620 Nathan Drive Charlotte, NC 4
- 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 2018
LEASED 03/20/20- Rent
- Rent Per SQFT
- $1,675
- $0.71
PROPERTY LISTING DETAILS
1.704.375.2495
Puma & Associates Realty, Inc.
