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7511 Niccoline Lane Charlotte, NC 28214

4 Beds 3 Baths 2,060 sqft Built 2018

$282,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $136.89
  • 8 Days on Market
  • MLS # : 3687180
  • Updated Date : 12/05/2020 at 17:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,060 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

****Sellers are calling for highest and best Sunday 12/6@ 5:00PM****This is a must see!!! This open floorplan, like-new home features 36" shaker cabinets, wainscoting and crown molding in dining room, upgraded laminate flooring on the first floor, and 4 bedrooms upstairs including a master suite with vaulted ceilings and separate shower and garden tub. This home backs up to woods and also includes a 6ft white vinyl fence in the backyard for privacy. Moores Chapel Village is conveniently located less than 9 miles from Uptown Charlotte and minutes away from I-485 and I-85. This home is an incredible value with its included 10 yr. (now 8 yr.) transferrable structural Home Warranty from builder without the new home price. It also includes several smart home features. Schedule your showing today, this home won't last!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Wildwood

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Wildwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6661518

* 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
Whitewater Academy Primary Unknown 756 45 NA
Whitewater Middle School Middle Regular 924 53 5
West Mecklenburg High School High Regular 2,040 108 1

Whitewater Academy

  • Education Level: Primary
  • # of students: 756
  • # of teachers: 45
NA
GreatSchools Rating

Whitewater Middle School

  • Education Level: Middle
  • # of students: 924
  • # of teachers: 53
5
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating
 

$253,800$310,200$282,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$1,040
Property Tax -$240
Property Insurance -$66
HOA -$27
Property Management Fees -$119
CASH FLOW
-$62

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.

$282,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,480

INVESTMENT

$80,480

Down Payment
$70,500
Rehab Estimate
$5,750
Closing Costs
$4,230

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,040

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,500
Loan Amount $211,500
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$13,287

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,463

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4253$1,4254$1,4305$1,575
$1,575
RENT COMPS ANALYSIS
  • 7511 Niccoline Lane Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.69
    •  
  • 10239 Apple Dove Court Charlotte, NC 1
    • 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 2004
    property image
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.72
    •  
  • 9025 Sharpes Circle Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,007 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,007 Sqft ∙ Built 2017
    property image
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.71
    •  
  • 1309 Waldon Road Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,007 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,007 Sqft ∙ Built 2017
    property image
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.71
    •  
  • 9419 Kendall Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,262 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,262 Sqft ∙ Built 2017
    property image
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.70
    •  
PROPERTY LISTING DETAILS
Tiera White
1.888.584.9431
Exp Realty Llc
BESbswy