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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Oakdale South
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$65,375
LOAN DETAILS
$830
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $56,250 |
| Loan Amount | $168,750 |
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
-
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
1.704.307.9769
Keller Williams South Park
