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PROPERTY INFO
FACTS
- Single Family
- Built In 2015
- Price/Sqft : $122.84
- 2 Days on Market
- MLS # : 3692483
- Updated Date : 12/19/2020 at 13:26
CONSTRUCTION
- Beds : 5
- Floor Size : 3,582 sqft
- Baths : 2 full , 1 half
Listing Agent
The Lake Team Llc
Listing Agent's Description
Nestled on a 0.38 acre lot, this home has so much to offer. Five bedrooms including a huge master suite with sitting room and three large walk-in closets. Hardwoods and tile everywhere except bedrooms. Master bathroom with his&hers vanities and Jacuzzi tub. Granite counters in kitchen and all bathrooms. Dual staircase, 9ft ceilings, 42” cabinets, wainscoting, built-in custom benches, wireless surround sound in Master bedroom and great room and fully finished laundry room. Great room features a floor-to-ceiling stone, gas log fireplace and opens to the kitchen.Kitchen with the granite counters, built-in double oven, gas stove, stainless steel appliances, large island and pantry. Beautiful landscaping with privacy trees, storage shed, expanded driveway, 20’x25’ patio w/ outdoor speakers and firepit.Community with pool, clubhouse and playground.Walking distance to Hickory Ridge Middle and High.Great Cabarrus County schools, low Cabarrus County and Harrisburg taxes. Listing agent is owner.
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: Bridge Pointe
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Bridge Pointe
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,570 |
| EXPENSES | Loan Payment | -$1,623 |
| Property Tax | -$332 | |
| Property Insurance | -$95 | |
| HOA | -$48 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$353
|
||
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.
$440,000
PROJECTED PRICE
$2,570
PROJECTED RENT
0.58%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 4.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| 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
$122,350
LOAN DETAILS
$1,623
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $110,000 |
| Loan Amount | $330,000 |
9.83
YEARS SAVED
$72,969
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,570
LIST RENT -
$0.72
LIST RENT PER SQFT
-
$2,615
COMP ESTIMATED VALUE -
$0.73
COMP AVG. RENT PER SQFT
Comps Range
-
7187 Streamhaven Drive Harrisburg, NC 3
- 5 beds 3 baths ∙ 3,582 Sqft ∙ Built 2015 5 beds 3 baths ∙ 3,582 Sqft ∙ Built 2015
- Rent
- Rent Per SQFT
- $2,570
- $0.72
-
5811 Underwood Avenue Charlotte, NC 1
- 5 beds 3 baths ∙ 3,506 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,506 Sqft ∙ Built 2003
LEASED 05/02/20- Rent
- Rent Per SQFT
- $2,250
- $0.64
-
4307 Abernathy Place Harrisburg, NC 2
- 4 beds 4 baths ∙ 3,300 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,300 Sqft ∙ Built 2004
LEASED 07/18/19- Rent
- Rent Per SQFT
- $2,550
- $0.77
PROPERTY LISTING DETAILS
1.305.606.0463
The Lake Team Llc
