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7539 Shadowstone Drive Charlotte, NC 28270

3 Beds 2 Baths 1,655 sqft Built 1999

$336,370

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $203.24
  • 5 Days on Market
  • MLS # : 3711437
  • Updated Date : 03/06/2021 at 11:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,655 sqft
  • Baths : 2 full
Listing Agent

Dw Realty Team Inc

Listing Agent's Description

MOVE IN READY! Welcome home to this meticulously cared for one owner home located on a spacious corner lot. 3BR/2BA split bedroom floor plan. Features great room with vaulted ceiling that connects to a large enclosed glass/screened patio. The Master Bedroom has a trayed ceiling with en suite bath, completely remodeled walk in shower and large walk in closet. One bedroom converted to office. Plantation Shutters throughout. Separate laundry room adjacent to large built in pantry. Additional features: smart thermostat, refrigerator, washer, dryer. Two car garage, organizers dream: shelving units, peg boards, Craftsman Tool chest and Craftsman storage unit. Additional storage accessed from garage for additional storage. Backyard includes shed, RV pad. This is a prime location with access to parks(greenway entrance within walking distance), schools(including several private schools)and shopping centers in less than 10 minutes.

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: Sardis Woods

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $110k318k

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

Neighborhood: Sardis Woods

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
Greenway Park Elementary School Primary Regular 605 38 3
Mcclintock Middle School Middle Regular 855 55 3
East Mecklenburg High School High Regular 1,840 111 6

Greenway Park Elementary School

  • Education Level: Primary
  • # of students: 605
  • # of teachers: 38
3
GreatSchools Rating

Mcclintock Middle School

  • Education Level: Middle
  • # of students: 855
  • # of teachers: 55
3
GreatSchools Rating

East Mecklenburg High School

  • Education Level: High
  • # of students: 1,840
  • # of teachers: 111
6
GreatSchools Rating
 

$302,733$370,007$336,370

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,168
Property Tax -$293
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$99

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.

$336,370

PROJECTED PRICE

$1,540

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$94,888

INVESTMENT

$94,888

Down Payment
$84,093
Rehab Estimate
$5,750
Closing Costs
$5,046

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,168

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,093
Loan Amount $252,278
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$13,052

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,622

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,5404$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 7539 Shadowstone Drive Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.93
    •  
  • 6221 Round Hill Road Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1986
    property image
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.97
    •  
  • 7609 Winterset Drive Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1976
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
  • 707 Riverwood Road Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 1975 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 1975
    property image
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.99
    •  
  • 8224 Rittenhouse Circle Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 1982
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
Karen Holt
1.704.777.7456
Dw Realty Team Inc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3711437
Last Updated: 03/06/2021
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