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7127 Chapparall Lane Charlotte, NC 28215

4 Beds 3 Baths 2,706 sqft Built 1973

$325,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $120.10
  • 4 Days on Market
  • MLS # : 3707791
  • Updated Date : 02/13/2021 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,706 sqft
  • Baths : 2 full , 1 half
Listing Agent

Helen Adams Realty

Listing Agent's Description

Full of traditional charm, this 2-story home sits on nearly a 1/2 acre in the sought after community of Ravenwood. Upon entry your attention is immediately drawn to the BEAUTIFUL dark hardwood floors (2018) & the fresh, designer paint scheme throughout! In the kitchen the cabinets have been refreshed w/a modern grey tone & are accentuated by the perfect pendant lighting over the peninsula. The counters have been upgraded to granite & you'll love the commercial look of the gas range! There's plenty of living space on the main floor with a true formal living (could be a home office) w/glass panel French doors as well as a large cozy, den w/gas log fireplace. Need bonus space? Wait until you see the 300+ sq. ft. rec room, just waiting for your ping pong, card, or pool table! Upstairs there's not a stitch of carpet as the owner's have continued the hardwood floor theme throughout! A laundry room & spacious bathrooms round out the 2nd floor! Don't miss the huge fenced yard!

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: Hickory Grove

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $96k235k

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

Neighborhood: Hickory Grove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8421518

* 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
Joseph W. Grier Academy Primary Regular 789 50 3
Northridge Middle School Middle Regular 779 43 3
Rocky River High School High Regular 1,710 90 3

Joseph W. Grier Academy

  • Education Level: Primary
  • # of students: 789
  • # of teachers: 50
3
GreatSchools Rating

Northridge Middle School

  • Education Level: Middle
  • # of students: 779
  • # of teachers: 43
3
GreatSchools Rating

Rocky River High School

  • Education Level: High
  • # of students: 1,710
  • # of teachers: 90
3
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,129
Property Tax -$283
Property Insurance -$78
Property Management Fees -$119
CASH FLOW
$21

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.

$325,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.4%
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$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$18,504

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.6

    LIST RENT PER SQFT
  • $1,630

    COMP ESTIMATED VALUE
  • $0.6

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,5253$1,5254$1,6305$1,675
$1,675
RENT COMPS ANALYSIS
  • 7127 Chapparall Lane Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,706 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,706 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.60
    •  
  • 2744 Bramble Ridge Court Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,522 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,522 Sqft ∙ Built 2008
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.52
    •  
  • 8415 Burnt Umber Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,425 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,425 Sqft ∙ Built 1988
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.63
    •  
  • 6202 Purbeck Way Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,368 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,368 Sqft ∙ Built 2018
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.64
    •  
  • 6337 Marquam Place Charlotte, NC 5
    • 5 beds 3 baths ∙ 2,805 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,805 Sqft ∙ Built 2017
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.60
    •  
PROPERTY LISTING DETAILS
Lawrence Mahool
1.704.277.1493
Helen Adams Realty
BESbswy