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7409 Boulaide Street Concord, NC 28025

4 Beds 3 Baths 3,344 sqft Built 2018

$420,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $125.60
  • 4 Days on Market
  • MLS # : 3717315
  • Updated Date : 03/13/2021 at 17:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,344 sqft
  • Baths : 2 full , 1 half
Listing Agent

Clickit Realty

Listing Agent's Description

Beautiful 4 bedroom 2.5 bath home in the highly desirable Mills at Rocky River neighborhood. Elementary and middle school conveniently located in the subdivision. This fabulous home sits on .266 acres with a large fenced backyard. The pergola covered deck is great for entertaining. The home also features a three car garage with utility sink and tankless gas water heater. On the main level the home features formal living and dining rooms, great room, morning room and flex room to be used as you desire. The open concept kitchen includes a large island w/farmhouse sink, stainless steel appliances, granite countertops, double ovens, tile back splash and 42" cabinets. The upgraded staircase leads to the game room and four generous sized bedrooms. The owners suite features a trey ceiling, fully tiled bath and large walk-in closet. Lots of extras to include wired security cameras, Ring video doorbell, keyless entry and Google/Alexa enabled smart switches/dimmers throughout the house

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

Zip Code: 28025

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k216k

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

Zip Code: 28025

ZipNIR Market*CityMarket2010Year20002019 Q270075080085090095010001050110011501200125013001350Rent in $6771375

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$378,000$462,000$420,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,459
Property Tax -$489
Property Insurance -$90
Property Management Fees -$119
CASH FLOW
-$127

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.

$420,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.9%
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$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,459

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$12,013

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $2,051

    COMP ESTIMATED VALUE
  • $0.61

    COMP AVG. RENT PER SQFT
Comps Range
$1,835
1$1,8352$2,0003$2,0304$2,095
$2,095
RENT COMPS ANALYSIS
  • 7409 Boulaide Street Concord, NC 3
    • 4 beds 4 baths ∙ 3,344 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,344 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.61
    •  
  • 6694 Thistle Down Drive Harrisburg, NC 1
    • 4 beds 3 baths ∙ 3,008 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,008 Sqft ∙ Built 2005
    property image
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,835
    • $0.61
    •  
  • 2102 Grist Mill Drive Sw Concord, NC 2
    • 5 beds 4 baths ∙ 3,320 Sqft ∙ Built 2018 5 beds 4 baths ∙ 3,320 Sqft ∙ Built 2018
    property image
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.60
    •  
  • 7401 Bosson Street Sw Concord, NC 4
    • 5 beds 3 baths ∙ 3,345 Sqft ∙ Built 2019 5 beds 3 baths ∙ 3,345 Sqft ∙ Built 2019
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.63
    •  
PROPERTY LISTING DETAILS
Susan Ayers
1.888.875.4218
Clickit Realty
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3717315
Last Updated: 03/13/2021
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