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7223 Claiborne Woods Road Charlotte, NC 28216

3 Beds 3 Baths 2,443 sqft Built 2001

$270,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $110.52
  • 4 Days on Market
  • MLS # : 3719515
  • Updated Date : 03/20/2021 at 18:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,443 sqft
  • Baths : 2 full , 1 half
Listing Agent

Stephen Cooley Real Estate Group

Listing Agent's Description

MULTIPE OFFERS IN HAND. SELLER ASKING FOR HIGHEST AND BEST BY 8pm, SUNDAY, MARCH 21. Great floor plan with a formal dining room and a living room that could be used as an office. Spacious great room opens up to the large kitchen where you will find stainless appliances that includes a double oven and lots of counter space. All bedrooms are located upstairs along with a bonus room. The back yard is fenced and there is a shed for extra storage. Neighborhood amenities include an outdoor pool and playground.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Mountain Island

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $113k241k

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

Neighborhood: Mountain Island

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8421617

* 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
Long Creek Elementary School Primary Regular 455 31 6
Francis Bradley Middle School Middle Regular 1,140 59 6
Hopewell High School High Regular 1,653 87 3

Long Creek Elementary School

  • Education Level: Primary
  • # of students: 455
  • # of teachers: 31
6
GreatSchools Rating

Francis Bradley Middle School

  • Education Level: Middle
  • # of students: 1,140
  • # of teachers: 59
6
GreatSchools Rating

Hopewell High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 87
3
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$938
Property Tax -$251
Property Insurance -$71
HOA -$33
Property Management Fees -$119
CASH FLOW
$227

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.

$270,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 3.7%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$34,521

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,704

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5753$1,6404$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 7223 Claiborne Woods Road Charlotte, NC 3
    • 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.70
    •  
  • 4724 Keeneland Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 2005
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.69
    •  
  • 7003 Advocator Lane Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,104 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,104 Sqft ∙ Built 2006
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.75
    •  
  • 6728 Chieftain Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,496 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,496 Sqft ∙ Built 2005
    property image
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.66
    •  
  • 9129 Beatties Ford Road Huntersville, NC 5
    • 3 beds 2 baths ∙ 2,187 Sqft ∙ Built 1952 3 beds 2 baths ∙ 2,187 Sqft ∙ Built 1952
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.78
    •  
PROPERTY LISTING DETAILS
Stephen Cooley
1.803.985.1240
Stephen Cooley Real Estate Group
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3719515
Last Updated: 03/20/2021
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