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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Brandon Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$79,924
LOAN DETAILS
$1,033
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $69,975 |
| Loan Amount | $209,925 |
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
-
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
1.704.962.2811
Re/max Executive
