Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

731 Capstone Avenue Concord, NC 28025

4 Beds 3 Baths 2,899 sqft Built 2006

$279,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $96.55
  • 8 Days on Market
  • MLS # : 3685677
  • Updated Date : 11/28/2020 at 15:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,899 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Executive

Listing Agent's Description

Right across from the community Park and Playground, this beautifully maintained Concord home has so much to offer! Incredibly open living areas feature NEW laminate wood flooring. A corner Gas Fireplace is ideally situated to enjoy from Kitchen, Great Room and Living Room. The second story opens to a brightly painted and spacious Loft area, ideal for play or virtual learning! The Owner's Suite is spacious enough for King Bedroom Suite, your workout equipment and a reading nook. A Large storage closet is also on this level. The Bedrooms are all large featuring double closets. The owner's have made the most of this backyard with retaining walls, raised Garden Beds, and patio that spans the rear of the home and an amazing Storage Shed built in 2020. Updates to this home include Roof , HVAC, Water Heater and Laminate Flooring in 2019; NEW Stainless Steel Range, Dishwasher & Microwave in 2020. Security System will convey with $200 credit w/ activation and video doorbell!

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: Brandon Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210kPrice in $113k216k

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

Neighborhood: Brandon Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400Rent in $8401412

* 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
A T Allen Elementary School Primary Regular 925 59 5
C C Griffin Middle School Middle Regular 1,092 70 4
Central Cabarrus High School High Regular 1,416 88 4

A T Allen Elementary School

  • Education Level: Primary
  • # of students: 925
  • # of teachers: 59
5
GreatSchools Rating

C C Griffin Middle School

  • Education Level: Middle
  • # of students: 1,092
  • # of teachers: 70
4
GreatSchools Rating

Central Cabarrus High School

  • Education Level: High
  • # of students: 1,416
  • # of teachers: 88
4
GreatSchools Rating
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,033
Property Tax -$296
Property Insurance -$82
HOA -$19
Property Management Fees -$155
CASH FLOW
$136

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.

$279,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.9%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$24,890

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.59

    LIST RENT PER SQFT
  • $1,720

    COMP ESTIMATED VALUE
  • $0.59

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5503$1,7204$1,895
$1,895
RENT COMPS ANALYSIS
  • 731 Capstone Avenue Concord, NC 3
    • 4 beds 3 baths ∙ 2,899 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,899 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.59
    •  
  • 227 Morning Dew Drive Concord, NC 1
    • 4 beds 3 baths ∙ 2,602 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,602 Sqft ∙ Built 2008
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.57
    •  
  • 3995 Bethesda Place Concord, NC 2
    • 4 beds 3 baths ∙ 2,671 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,671 Sqft ∙ Built 2019
    LEASED 06/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.58
    •  
  • 269 Patrick Avenue Concord, NC 4
    • 4 beds 4 baths ∙ 3,000 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,000 Sqft ∙ Built 2000
    LEASED 09/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.63
    •  
PROPERTY LISTING DETAILS
Karin Hull
1.704.962.2811
Re/max Executive
BESbswy