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724 Robert Moses Drive Gastonia, NC 28056

3 Beds 3 Baths 1,896 sqft Built 2018

$261,900

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $138.13
  • 13 Days on Market
  • MLS # : 3704517
  • Updated Date : 02/13/2021 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,896 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mgr Realty Llc

Listing Agent's Description

Immaculate like new Home by Marley w/ Fantastic Floor Plan! The Huge Kitchen Features Granite Countertops, Custom Tiled Backsplash, Island & Tall Cabinets Fully Open to the Large Greatroom. 9' Ceilings w/ Wide Crown Molding & Baseboards Throughout the Main Level.Large Closets & Bathrooms. The Upstairs Laundry Has Coordinating Cabinets w/ Plenty of Storage Space. This Lovely Community Has a Terrific Pool, Tree Lined Streets and Excellent Location. This home will definitely not disappoint!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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: Village at Parkside

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k236k

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

Neighborhood: Village at Parkside

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771592

* 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
H.h. Beam Elementary School Primary Regular 592 38 2
Southwest Middle School Middle Regular 867 47 4
Forestview High School High Regular 1,143 63 7

H.h. Beam Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 38
2
GreatSchools Rating

Southwest Middle School

  • Education Level: Middle
  • # of students: 867
  • # of teachers: 47
4
GreatSchools Rating

Forestview High School

  • Education Level: High
  • # of students: 1,143
  • # of teachers: 63
7
GreatSchools Rating
 

$235,710$288,090$261,900

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$910
Property Tax -$217
Property Insurance -$63
HOA -$50
Property Management Fees -$119
CASH FLOW
$161

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.

$261,900

PROJECTED PRICE

$1,520

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

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$75,154

INVESTMENT

$75,154

Down Payment
$65,475
Rehab Estimate
$5,750
Closing Costs
$3,929

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,475
Loan Amount $196,425
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$28,227

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,510

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,399
1$1,3992$1,4253$1,5204$1,725
$1,725
RENT COMPS ANALYSIS
  • 724 Robert Moses Drive Gastonia, NC 3
    • 3 beds 3 baths ∙ 1,896 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,896 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.80
    •  
  • 3812 Schenley Avenue Gastonia, NC 1
    • 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 2016
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.78
    •  
  • 1423 Rivermont Drive Gastonia, NC 2
    • 3 beds 3 baths ∙ 1,778 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,778 Sqft ∙ Built 1984
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.80
    •  
  • 1491 Plantation Trail Gastonia, NC 4
    • 3 beds 3 baths ∙ 2,128 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,128 Sqft ∙ Built 1992
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.81
    •  
PROPERTY LISTING DETAILS
Gwen Gripper
1.704.236.4915
Mgr Realty Llc
BESbswy