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PROPERTY INFO
FACTS
- Single Family
- Built In 1987
- Price/Sqft : $180.62
- 2 Days on Market
- MLS # : 3705934
- Updated Date : 02/06/2021 at 09:52
CONSTRUCTION
- Beds : 3
- Floor Size : 1,218 sqft
- Baths : 2 full
Listing Agent
Carolina Premier Real Estate Group Llc
Listing Agent's Description
Beautifully remodeled split bedroom home on quiet corner cut de sac lot. All new stainless appliances, quartz countertops, and tile backsplash. Bright open floorpan with new light fixtures throughout. Master bedroom features full bathroom, walk in closet, and covered patio access. 2nd and 3rd bedrooms are large with generous closet space. Enjoy your coffee on the front porch or back covered patio. Convenient outside storage area. New paint inside and out.
SEE MORE
- 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: Mint Hill
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Mint Hill
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,120 |
| EXPENSES | Loan Payment | -$764 |
| Property Tax | -$192 | |
| Property Insurance | -$50 | |
| HOA | -$12 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$17
|
||
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.
$220,000
PROJECTED PRICE
$1,120
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 5.2% |
| 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
$64,050
LOAN DETAILS
$764
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $55,000 |
| Loan Amount | $165,000 |
4.58
YEARS SAVED
$10,304
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,120
LIST RENT -
$0.92
LIST RENT PER SQFT
-
$1,124
COMP ESTIMATED VALUE -
$0.92
COMP AVG. RENT PER SQFT
Comps Range
-
7501 Barn Stone Drive Charlotte, NC 1
- 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1987
- Rent
- Rent Per SQFT
- $1,120
- $0.92
-
8806 Brass Bell Court Charlotte, NC 2
- 3 beds 3 baths ∙ 1,476 Sqft ∙ Built 3 beds 3 baths ∙ 1,476 Sqft ∙ Built
LEASED 04/13/20- Rent
- Rent Per SQFT
- $1,299
- $0.88
-
5713 Osprey Watch Court Charlotte, NC 3
- 3 beds 3 baths ∙ 1,392 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,392 Sqft ∙ Built 2003
LEASED 02/18/20- Rent
- Rent Per SQFT
- $1,325
- $0.95
-
9244 Idlewild Road Charlotte, NC 4
- 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1948
LEASED 05/08/20- Rent
- Rent Per SQFT
- $1,375
- $0.95
-
7401 Palmetto Court Charlotte, NC 5
- 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1983
LEASED 10/14/20- Rent
- Rent Per SQFT
- $1,375
- $0.91
PROPERTY LISTING DETAILS
1.704.779.6458
Carolina Premier Real Estate Group Llc
