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7313 Conifer Court #4 Indian Trail, NC 28079

4 Beds 3 Baths 2,230 sqft Built 1999

$289,900

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $130.00
  • 2 Days on Market
  • MLS # : 3696967
  • Updated Date : 01/09/2021 at 16:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,230 sqft
  • Baths : 2 full , 1 half
Listing Agent

Prostead Realty

Listing Agent's Description

Lovely Home in Desirable Village of Lake Park w/pond views across street! There are many updated features such as upgraded wood laminate flooring on the main. Office has water view & a bump out w/double windows for added roominess. Formal dining rm also has bump out w/dble window & water view. Large Kitchen has new lighting & an island w/overhang for seating. Breakfast room has a bay window that over looks back yard. Large Great room with marble faced fireplace & dental molding on mantel. New paint throughout most of the home. All new carpet upstairs. Up are 2 secondary bedrooms, a large bed/bonus room, hall bathroom and the laundry. Master bedroom has tray ceiling, tile floor in the master bathroom, new bar lights, new mirrors, separate tub & shower. Outback there is a patio, large flat yard with a raised bed for flowers or vegetables! Great Union CO Schools! Super community with many yearly events, 13 lakes & ponds, numerous playgrounds & parks, tennis courts, volleyball, much more!

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: Lake Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Lake Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Poplin Elementary School Primary Regular 719 40 7
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Poplin Elementary School

  • Education Level: Primary
  • # of students: 719
  • # of teachers: 40
7
GreatSchools Rating

Porter Ridge Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 72
7
GreatSchools Rating

Porter Ridge High School

  • Education Level: High
  • # of students: 1,591
  • # of teachers: 77
7
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,007
Property Tax -$189
Property Insurance -$69
HOA -$7
Property Management Fees -$119
CASH FLOW
$349

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.

$289,900

PROJECTED PRICE

$1,740

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

11.83

YEARS SAVED

$53,374

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,734

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,645
1$1,6452$1,6953$1,6954$1,7405$1,800
$1,800
RENT COMPS ANALYSIS
  • 7313 Conifer Court Indian Trail, NC 4
    • 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.78
    •  
  • 5504 Fredrick Street Indian Trail, NC 1
    • 4 beds 3 baths ∙ 2,140 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,140 Sqft ∙ Built 1994
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.77
    •  
  • 4005 Lake Park Road Indian Trail, NC 2
    • 4 beds 3 baths ∙ 2,377 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,377 Sqft ∙ Built 1998
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.71
    •  
  • 4105 Hunters Trail Drive Indian Trail, NC 3
    • 4 beds 2 baths ∙ 2,168 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,168 Sqft ∙ Built 2003
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.78
    •  
  • 3805 Lincoln Court Indian Trail, NC 5
    • 4 beds 3 baths ∙ 2,120 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,120 Sqft ∙ Built 1998
    property image
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.85
    •  
PROPERTY LISTING DETAILS
Wendy Richards
1.704.604.6115
Prostead Realty
BESbswy