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7127 Rock Bass Court Concord, NC 28025

3 Beds 3 Baths 2,065 sqft Built 2001

$274,900

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $133.12
  • 3 Days on Market
  • MLS # : 3705084
  • Updated Date : 02/06/2021 at 09:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,065 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lki Realty Llc

Listing Agent's Description

Location Location Location!!! Pack your bags and move in!! Beautiful 3 bedroom 2 bath 2-story home on a private cul-de-sac lot, with woods/river right in your backyard. Back patio is already wired for your hot tub. 1st floor has an open floor plan, with high ceilings & lots of windows creating a bright airy feel. Living room has gas log fireplace, kitchen with bay window..Master bedroom with huge walk-in closet, master bath has seperate tub and shower... Fresh paint throughout with newer carpeting upstairs makes this home move in ready!!! 2 car garage is insulated and finished.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Rocky Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Rocky Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8401809

* 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
Patriots Elementary School Primary Unknown NA
C C Griffin Middle School Middle Regular 1,092 70 4
Central Cabarrus High School High Regular 1,416 88 4

Patriots Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

C C Griffin Middle School

  • Education Level: Middle
  • # of students: 1,092
  • # of teachers: 70
4
GreatSchools Rating

Central Cabarrus High School

  • Education Level: High
  • # of students: 1,416
  • # of teachers: 88
4
GreatSchools Rating
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$955
Property Tax -$207
Property Insurance -$66
HOA -$15
Property Management Fees -$119
CASH FLOW
$178

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.

$274,900

PROJECTED PRICE

$1,540

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.9%
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

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$34,128

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,559

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5403$1,5504$1,6455$1,645
$1,645
RENT COMPS ANALYSIS
  • 7127 Rock Bass Court Concord, NC 2
    • 3 beds 3 baths ∙ 2,065 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,065 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.75
    •  
  • 6926 Brandon Chase Lane Concord, NC 1
    • 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 3 beds 3 baths ∙ 2,100 Sqft ∙ Built
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.69
    •  
  • 6862 Babbling Brook Lane Concord, NC 3
    • 3 beds 2 baths ∙ 2,026 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,026 Sqft ∙ Built 2002
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.77
    •  
  • 6715 Sequoia Hills Drive Harrisburg, NC 4
    • 4 beds 3 baths ∙ 2,079 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,079 Sqft ∙ Built 2006
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.79
    •  
  • 7372 Dover Mill Drive Concord, NC 5
    • 3 beds 3 baths ∙ 2,140 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,140 Sqft ∙ Built 2014
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.77
    •  
PROPERTY LISTING DETAILS
Jodi Greenwood
1.704.309.2981
Lki Realty Llc
BESbswy