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719 Hanna Woods Cramerton, NC 28032

3 Beds 3 Baths 2,212 sqft Built 1990

$359,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $162.30
  • 54 Days on Market
  • MLS # : 3686260
  • Updated Date : 01/16/2021 at 12:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,212 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allen Tate Gastonia

Listing Agent's Description

Wonderful home in gated Cramer Mountain neighborhood! Welcoming wrap around front porch and wide stairs let you know this is a place you will want to call HOME! Level lot backs up to tree buffer for added privacy. Master on main has walk-in closet and bath with neutral tones, double vanity and separate tub shower. The great room and office space share a see-thru fireplace. Kitchen has built in book shelves, a breakfast area overlooking the backyard. Entertaining will be easy with formal dining and access to a two level deck w space to grill, dine and chill! Neighborhood amenities are offered through Cramer Mountain Club membership & are optional. If you do chose to join you can enjoy the restaurant, golf, swimming pool, tennis, basketball, playground, workout facility and more! Cramerton is a golf cart friendly town! Come and enjoy living close to the South Fork of the Catawba river where kayaking and fishing are easy and fun! 25 mins to airport, 30 minutes to downtown Charlotte.

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

Zip Code: 28032

ZipNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210kPrice in $94k213k

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

Zip Code: 28032

ZipNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300Rent in $6411375

* 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
New Hope Elementary School Primary Regular 542 27 7
Cramerton Middle School Middle Regular 833 42 8
Stuart W. Cramer High School High Regular 782 45 NA

New Hope Elementary School

  • Education Level: Primary
  • # of students: 542
  • # of teachers: 27
7
GreatSchools Rating

Cramerton Middle School

  • Education Level: Middle
  • # of students: 833
  • # of teachers: 42
8
GreatSchools Rating

Stuart W. Cramer High School

  • Education Level: High
  • # of students: 782
  • # of teachers: 45
NA
GreatSchools Rating
 

$323,100$394,900$359,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,247
Property Tax -$293
Property Insurance -$69
HOA -$114
Property Management Fees -$119
CASH FLOW
-$102

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.

$359,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.1%
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-$4.0k-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,247

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$10,550

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,770

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,6454$1,7405$1,750
$1,750
RENT COMPS ANALYSIS
  • 719 Hanna Woods Cramerton, NC 4
    • 3 beds 3 baths ∙ 2,212 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,212 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.79
    •  
  • 2631 Cypress Oak Lane Gastonia, NC 1
    • 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 2008
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.81
    •  
  • 300 Deep Forest Court Gastonia, NC 2
    • 4 beds 3 baths ∙ 2,052 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,052 Sqft ∙ Built 1986
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.78
    •  
  • 5032 Newport Landing Way Gastonia, NC 3
    • 3 beds 3 baths ∙ 2,283 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,283 Sqft ∙ Built 2006
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.72
    •  
  • 5001 Newport Landing Way Gastonia, NC 5
    • 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 2013 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 2013
    LEASED 05/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.89
    •  
PROPERTY LISTING DETAILS
Cathy Young
1.704.860.5400
Allen Tate Gastonia
BESbswy