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7300 Pine Bluff Circle Charlotte, NC 28214

3 Beds 2 Baths 1,524 sqft Built 1979

$229,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $150.26
  • 4 Days on Market
  • MLS # : 3702531
  • Updated Date : 02/20/2021 at 16:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,524 sqft
  • Baths : 2 full
Listing Agent

Mathers Realty.com

Listing Agent's Description

Multiple offers received, asking for all offers to be in by Sunday Feb 21st by 6 pm. Welcome home to a lovely 3 bed 2 full bath ranch on a corner lot in coveted Pawtuckett. Home offers brand new Architectural shingle roof and exterior paint. With a large deck over looking a flat back yard. Oversized detached 2-car garage is perfect for a work shop. As you tour the inside, you will notice refinished hard wood floors throughout the home, new light fixtures, and all new interior paint. Home is an estate sale.

SEE MORE

MARKET HIGHLIGHTS

  • 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: Wildwood

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Wildwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6661518

* 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
Whitewater Academy Primary Unknown NA
Whitewater Middle School Middle Regular 924 53 5
West Mecklenburg High School High Regular 2,040 108 1

Whitewater Academy

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Whitewater Middle School

  • Education Level: Middle
  • # of students: 924
  • # of teachers: 53
5
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating
 

$206,100$251,900$229,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$795
Property Tax -$200
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$140

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.

$229,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.8%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,435

INVESTMENT

$66,435

Down Payment
$57,250
Rehab Estimate
$5,750
Closing Costs
$3,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$795

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,250
Loan Amount $171,750
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$25,141

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,394

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,299
1$1,2992$1,3103$1,3364$1,4005$1,495
$1,495
RENT COMPS ANALYSIS
  • 7300 Pine Bluff Circle Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.86
    •  
  • 6420 Pennacook Drive Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,432 Sqft ∙ Built 3 beds 3 baths ∙ 1,432 Sqft ∙ Built
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.91
    •  
  • 5819 Natick Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 2017
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,336
    • $0.86
    •  
  • 4725 Opus Lane Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,450 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,450 Sqft ∙ Built 2016
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.97
    •  
  • 6919 Pawtuckett Road Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,625 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,625 Sqft ∙ Built 1973
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.92
    •  
PROPERTY LISTING DETAILS
John Robinson
1.704.351.2396
Mathers Realty.com
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3702531
Last Updated: 02/20/2021
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