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712 Oakbluff Circle Charlotte, NC 28216

3 Beds 2 Baths 1,655 sqft Built 1992

$225,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $135.95
  • 3 Days on Market
  • MLS # : 3690701
  • Updated Date : 12/11/2020 at 16:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,655 sqft
  • Baths : 2 full
Listing Agent

Keller Williams South Park

Listing Agent's Description

Cozy, one story in need of TLC and updating! You can pick what kind of flooring YOU want; what countertops YOU want and so on. No need to be stuck with the selections of a previous owner! Perfect home for a buyer wanting to use some sweat to build their own EQUITY. How will you turn this diamond in the rough into YOUR perfect gem?

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: Oakdale South

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $90k235k

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

Neighborhood: Oakdale South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7831518

* 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
Oakdale Elementary School Primary Regular 646 38 2
Ranson Middle School Middle Regular 1,138 57 3
West Charlotte High School High Regular 1,777 109 3

Oakdale Elementary School

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 38
2
GreatSchools Rating

Ranson Middle School

  • Education Level: Middle
  • # of students: 1,138
  • # of teachers: 57
3
GreatSchools Rating

West Charlotte High School

  • Education Level: High
  • # of students: 1,777
  • # of teachers: 109
3
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$830
Property Tax -$196
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$206

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.

$225,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.0%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$36,685

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,432

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,140
1$1,1402$1,3953$1,3994$1,4105$1,449
$1,449
RENT COMPS ANALYSIS
  • 712 Oakbluff Circle Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.85
    •  
  • 641 Oakdale Road Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1967
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,140
    • $0.73
    •  
  • 906 Grassy Patch Lane Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 2002
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.77
    •  
  • 212 Ravenridge Court Charlotte, NC 3
    • 4 beds 3 baths ∙ 1,474 Sqft ∙ Built 2013 4 beds 3 baths ∙ 1,474 Sqft ∙ Built 2013
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.95
    •  
  • 5936 Sanders Farm Lane Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,759 Sqft ∙ Built 3 beds 3 baths ∙ 1,759 Sqft ∙ Built
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.82
    •  
PROPERTY LISTING DETAILS
Mike Simons
1.704.307.9769
Keller Williams South Park
BESbswy