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700 Jordans Pond Lane Charlotte, NC 28214

3 Beds 2 Baths 1,526 sqft Built 1997

$275,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $180.21
  • 5 Days on Market
  • MLS # : 3719235
  • Updated Date : 03/20/2021 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,526 sqft
  • Baths : 2 full
Listing Agent

Northgroup Real Estate, Inc.

Listing Agent's Description

Great 3 br/2 bath home located ON Jordans Pond! Kitchen renovated with quartzite counter tops, floating shelving,(kitchen cabinets removed are in attic) SS appliances. W&D included! Custom sliding barn doors for Laundry closet and hallway to bedrooms. Wood look laminate flooring, slate tile in baths. Exquisite updated lighting fixtures, as well as, extensive recessed lighting. Dining room overlooking back deck and pond. Living room has wood burning fireplace. Master bedroom boasts of view of pond, trey ceilings and walk in closet. Master bath has custom double vanity, garden tub and separate shower. 2nd bath with custom vanity! Back deck has sail shade that remains.Too many custom details to this home to list!

SEE MORE

MARKET HIGHLIGHTS

  • 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: Coulwood West

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $104k235k

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

Neighborhood: Coulwood West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350140014501500Rent in $7871518

* 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
Paw Creek Elementary School Primary Regular 530 37 5
Coulwood Middle School Middle Regular 694 45 7
West Mecklenburg High School High Regular 2,040 108 1

Paw Creek Elementary School

  • Education Level: Primary
  • # of students: 530
  • # of teachers: 37
5
GreatSchools Rating

Coulwood Middle School

  • Education Level: Middle
  • # of students: 694
  • # of teachers: 45
7
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$955
Property Tax -$240
Property Insurance -$56
HOA -$20
Property Management Fees -$119
CASH FLOW
-$40

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.

$275,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$11,371

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,362

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,345
1$1,3452$1,3503$1,4004$1,5005$1,599
$1,599
RENT COMPS ANALYSIS
  • 700 Jordans Pond Lane Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.88
    •  
  • 537 Moss Stream Lane Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,547 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,547 Sqft ∙ Built 2003
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.87
    •  
  • 7946 Bristle Lane Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 2003
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.82
    •  
  • 606 Jordans Pond Lane Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,657 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,657 Sqft ∙ Built 1997
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.91
    •  
  • 1304 Alston Hill Drive Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2003
    property image
    LEASED 02/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.94
    •  
PROPERTY LISTING DETAILS
Johnette Brockelbank
1.704.576.5814
Northgroup Real Estate, Inc.
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3719235
Last Updated: 03/20/2021
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