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PROPERTY INFO
FACTS
- Single Family
- Built In 2021
- Price/Sqft : $150.94
- 3 Days on Market
- MLS # : 3696966
- Updated Date : 01/08/2021 at 17:32
CONSTRUCTION
- Beds : 4
- Floor Size : 2,491 sqft
- Baths : 2 full , 1 half
Listing Agent
Nvr Homes, Inc./ryan Homes
Listing Agent's Description
Proposed Home. This home is more than just great looking, it’s smart and versatile, with a spacious, inviting floorplan. It adapts to fit your life – functional, but never stuffy. A variety of gorgeous exteriors all come with a covered entry. Customize your flex room to be your living room, dining room or a study with French doors. The family room flows into the kitchen and dining area, so you can grab a drink without missing the conversation. Add a covered porch for those warm summer evenings, or a fireplace for chilly winter ones. On the second floor, four large bedrooms await (or three and a comfy loft space, if you prefer). In the owner’s suite, there’s a large, walk-in closet and luxurious bathroom. And as most of your clothes begin and end their day on the second floor, the laundry room is up here, too. No matter what you need from a home, this versatile floorplan more than delivers.
SEE MORE
- 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: The Mills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: The Mills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,790 |
| EXPENSES | Loan Payment | -$1,306 |
| Property Tax | -$284 | |
| Property Insurance | -$74 | |
| HOA | -$50 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$43
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.
$375,990
PROJECTED PRICE
$1,790
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 8.1% |
| Maintenance Year (1-5) | 3.00% |
| 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
$101,637
LOAN DETAILS
$1,306
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $93,998 |
| Loan Amount | $281,993 |
5.08
YEARS SAVED
$19,396
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,790
LIST RENT -
$0.72
LIST RENT PER SQFT
-
$1,775
COMP ESTIMATED VALUE -
$0.71
COMP AVG. RENT PER SQFT
Comps Range
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LEASED 07/23/19- Rent
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LEASED 04/24/20- Rent
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- $1,695
- $0.68
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LEASED 01/28/20- Rent
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- $1,745
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LEASED 05/14/20- Rent
- Rent Per SQFT
- $1,795
- $0.74
PROPERTY LISTING DETAILS
1.704.610.5282
Nvr Homes, Inc./ryan Homes
