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712 Wilderness Trail Drive Charlotte, NC 28214

3 Beds 3 Baths 1,676 sqft Built 2002

INVESTimate

$210,000

List Price

$1,390

$1,251 - $1,529

Rent Est.

$227,010  ( +8.10%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $125.30
  • 4 Days on Market
  • MLS # : 3654555
  • Updated Date : 08/23/2020 at 18:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,676 sqft
  • Baths : 2 full , 1 half
Listing Agent

Johnson Group Partners Llc

Listing Agent's Description

This beautiful home located in West Charlotte is priced to sell. Home needs some cosmetic unfits but is move in ready! Located on the main floor you will find a formal dining space, formal living room, living den, eat in kitchen space and half bathroom for guests. On the second level you will find all of the bedrooms including the owners room, a full bathroom and two additional rooms. Home has had handicap modifications but will be returned to original state. This home has been well maintained and in a great location with quick access to i485, downtown Charlotte and i85. Traditional styled home 3 Bedrooms 2.5 Bathrooms. This home is priced to sell and the owner has the ability to move quickly.

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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: 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
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$775
Property Tax -$191
Property Insurance -$59
HOA -$17
Property Management Fees -$125
CASH FLOW
$223

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.

$210,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.10%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$33,198

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,387

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,345
1$1,3452$1,3753$1,3904$1,3955$1,400
$1,400
RENT COMPS ANALYSIS
  • 712 Wilderness Trail Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,676 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,676 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.83
    •  
  • 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
    •  
  • 7136 Roaming Path Court Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 2003
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.84
    •  
  • 620 Wilderness Trail Drive Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,872 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,872 Sqft ∙ Built 2002
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.75
    •  
  • 7946 Bristle Lane Charlotte, NC 5
    • 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
    •  
PROPERTY LISTING DETAILS
Felicia Stevens
1.704.493.0222
Johnson Group Partners Llc
BESbswy