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7313 Little Buggy Lane Charlotte, NC 28273

3 Beds 2 Baths 1,837 sqft Built 1986

INVESTimate

$185,000

List Price

$1,620

$1,458 - $1,782

Rent Est.

$197,303  ( +6.65%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $100.71
  • 3 Days on Market
  • MLS # : 3654870
  • Updated Date : 08/25/2020 at 11:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,837 sqft
  • Baths : 2 full
Listing Agent

Celia Estrada, Realtors

Listing Agent's Description

Great 3 BR 2 BA Home plus Bonus Room and Office, Vaulted Ceiling, Open Floor plan. Sold As-Is

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: Olde Whitehall

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $108k235k

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

Neighborhood: Olde Whitehall

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8201518

* 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
Steele Creek Elementary School Primary Regular 737 43 6
Kennedy Middle School Middle Regular 722 43 4
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

Steele Creek Elementary School

  • Education Level: Primary
  • # of students: 737
  • # of teachers: 43
6
GreatSchools Rating

Kennedy Middle School

  • Education Level: Middle
  • # of students: 722
  • # of teachers: 43
4
GreatSchools Rating

Math, Engineering, Technology And Science At Olympic High School

  • Education Level: High
  • # of students: 607
  • # of teachers: 28
7
GreatSchools Rating
 

$166,500$203,500$185,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$683
Property Tax -$204
Property Insurance -$62
Property Management Fees -$146
CASH FLOW
$526

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.

$185,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.88%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 6.65%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$683

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

15.83

YEARS SAVED

$57,273

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,630

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,415
1$1,4152$1,4953$1,5004$1,6205$1,650
$1,650
RENT COMPS ANALYSIS
  • 7313 Little Buggy Lane Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,837 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,837 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.88
    •  
  • 6829 Ayrshire Glen Place Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 200 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 200
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,415
    • $0.83
    •  
  • 6936 Ayrshire Glen Place Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 2000
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.88
    •  
  • 6932 Murray Grey Lane Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,749 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,749 Sqft ∙ Built 2001
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.86
    •  
  • 2606 Brahman Meadows Lane Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,770 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,770 Sqft ∙ Built 2000
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.93
    •  
PROPERTY LISTING DETAILS
Sonia Saunders
1.704.807.5097
Celia Estrada, Realtors
BESbswy