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7025 Rocky Falls Road Charlotte, NC 28211

4 Beds 3 Baths 2,237 sqft Built 1985

$425,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $189.99
  • 8 Days on Market
  • MLS # : 3682660
  • Updated Date : 11/18/2020 at 11:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,237 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nestlewood Realty, Llc

Listing Agent's Description

The home you've been waiting for! Stonehaven's finest full brick two story property. This home features 4 bed, 2.5 bath fully updated on a quiet street. Over 2200 square feet, main level has a functional flowing floor plan. Tastefully updated kitchen with granite, stainless appliances, beautiful white cabinetry and is open to your dining area. Separate cozy den with wood burning fireplace and built-ins. Gorgeous hardwoods throughout. New lighting. Coveted back sunroom that steps out onto your private deck. Large laundry on main. Fully fenced yard. Large master suite with dual vanity and tile shower. This house checks every box! 2019 New A/C and furnace (downstairs). A short drive to the heart of South Park, the Arboretum and a straight shot into Uptown. Don't miss this classic opportunity!

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: Stonehaven

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $116k361k

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

Neighborhood: Stonehaven

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Rama Road Elementary School Primary Regular 591 41 4
Mcclintock Middle School Middle Regular 855 55 3
East Mecklenburg High School High Regular 1,840 111 6

Rama Road Elementary School

  • Education Level: Primary
  • # of students: 591
  • # of teachers: 41
4
GreatSchools Rating

Mcclintock Middle School

  • Education Level: Middle
  • # of students: 855
  • # of teachers: 55
3
GreatSchools Rating

East Mecklenburg High School

  • Education Level: High
  • # of students: 1,840
  • # of teachers: 111
6
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,568
Property Tax -$393
Property Insurance -$69
Property Management Fees -$194
CASH FLOW
-$74

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.

$425,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$18,884

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,326

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9953$2,0004$2,1505$2,500
$2,500
RENT COMPS ANALYSIS
  • 7025 Rocky Falls Road Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.96
    •  
  • 7101 Valley Haven Drive Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,908 Sqft ∙ Built 1975 3 beds 3 baths ∙ 1,908 Sqft ∙ Built 1975
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.94
    •  
  • 1311 Mclaughlin Drive Charlotte, NC 2
    • 3 beds 2 baths ∙ 2,096 Sqft ∙ Built 1975 3 beds 2 baths ∙ 2,096 Sqft ∙ Built 1975
    property image
    LEASED 01/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.95
    •  
  • 1317 Piccadilly Drive Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,949 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,949 Sqft ∙ Built 1985
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.03
    •  
  • 818 Ashmeade Road Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,209 Sqft ∙ Built 1970 4 beds 3 baths ∙ 2,209 Sqft ∙ Built 1970
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.13
    •  
PROPERTY LISTING DETAILS
Katie Harrison
1.704.577.1130
Nestlewood Realty, Llc
BESbswy