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PROPERTY INFO
FACTS
- Single Family
- Built In 2021
- Price/Sqft : $144.67
- 60 Days on Market
- MLS # : 3686972
- Updated Date : 01/30/2021 at 17:46
CONSTRUCTION
- Beds : 4
- Floor Size : 2,207 sqft
- Baths : 2 full , 1 half
Listing Agent
Dr Horton Inc
Listing Agent's Description
Top Selling Pinehurst floor plan! Open concept with site lines straight from kitchen to the family room. As you walk in the front door the dining room has pass open throughs to the kitchen and family room. Kitchen features 36" cabinets, granite countertops w/ tile backsplash, LED lights, laminate flooring on the first floor, upstairs has 3 bedrooms and an open loft, including a large owners suite w/on suite bath! Sutton Farms is conveniently located off HWY 16/Brookshire Blvd Exit 16 on I-485 near Riverbend Village Shopping Center, Uptown Charlotte, the Whitewater Center, airport, University area etc! This home is an incredible value with all the benefits of new construction and a 10 yr. Home Warranty! Home Is Connected? includes programmable thermostat, Z-Wave door lock and wireless switch, touchscreen control device, automation platform, video doorbell, and Amazon Echo and Echo Dot. All home features are subject to change without notice. Internet service not included.
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: Oakdale South
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Oakdale South
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,630 |
| EXPENSES | Loan Payment | -$1,109 |
| Property Tax | -$299 | |
| Property Insurance | -$69 | |
| HOA | -$63 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$28
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.
$319,290
PROJECTED PRICE
$1,630
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 8.0% |
| Maintenance Year (1-5) | 3.00% |
| Vacancy | 6.57% |
| 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
$86,612
LOAN DETAILS
$1,109
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $79,823 |
| Loan Amount | $239,468 |
4.42
YEARS SAVED
$13,516
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,630
LIST RENT -
$0.74
LIST RENT PER SQFT
-
$1,622
COMP ESTIMATED VALUE -
$0.74
COMP AVG. RENT PER SQFT
Comps Range
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724 Larmore Avenue Charlotte, NC 5
- 4 beds 3 baths ∙ 2,207 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,207 Sqft ∙ Built 2021
- Rent
- Rent Per SQFT
- $1,630
- $0.74
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1418 Galesburg Street Charlotte, NC 1
- 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 2003
LEASED 03/01/20- Rent
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- $1,465
- $0.71
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1741 Harland Street Charlotte, NC 2
- 4 beds 3 baths ∙ 2,072 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,072 Sqft ∙ Built 2005
LEASED 04/21/20- Rent
- Rent Per SQFT
- $1,479
- $0.71
-
7131 Wandering Creek Drive Charlotte, NC 3
- 4 beds 3 baths ∙ 2,072 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,072 Sqft ∙ Built 2004
LEASED 03/02/20- Rent
- Rent Per SQFT
- $1,550
- $0.75
-
2626 Gingham Street Charlotte, NC 4
- 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 2019
LEASED 02/07/20- Rent
- Rent Per SQFT
- $1,595
- $0.77
PROPERTY LISTING DETAILS
1.713.314.6688
Dr Horton Inc
