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727 Wood Lily Drive Belmont, NC 28012

3 Beds 2 Baths 2,110 sqft Built 2018

$350,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $165.88
  • 7 Days on Market
  • MLS # : 3680128
  • Updated Date : 11/18/2020 at 07:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,110 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

This 3 bedroom, 2 bath home with office is as good as new! Open concept living area with beautiful upgraded countertops in the kitchen and luxury vinyl plank flooring. Sellers chose to convert 4th bedroom into office when purchased. Master bath has deluxe shower with 2 showerheads. Enjoy your evenings sitting on the screened in back porch with a view of the nature preserve. New fenced in back yard just installed a few weeks ago. Neighborhood has community clubhouse, pool and walking trails. Come take a look today!

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

Zip Code: 28012

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210kPrice in $113k213k

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

Zip Code: 28012

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350Rent in $8421396

* 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
South Point High School High Regular 1,101 61 6

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

South Point High School

  • Education Level: High
  • # of students: 1,101
  • # of teachers: 61
6
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,291
Property Tax -$262
Property Insurance -$67
HOA -$175
Property Management Fees -$203
CASH FLOW
$252

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.

$350,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.4%
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$0.0$5.0k$10k$15k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$40,184

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,321

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,300
$2,300
RENT COMPS ANALYSIS
  • 727 Wood Lily Drive Belmont, NC 1
    • 3 beds 2 baths ∙ 2,110 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,110 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.07
    •  
  • 133 Barberry Drive Belmont, NC 2
    • 3 beds 2 baths ∙ 2,096 Sqft ∙ Built 2019 3 beds 2 baths ∙ 2,096 Sqft ∙ Built 2019
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.10
    •  
PROPERTY LISTING DETAILS
Ashley Parks
1.980.522.2233
Keller Williams Realty
BESbswy