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7545 Sparkleberry Drive Indian Trail, NC 28079

4 Beds 3 Baths 2,556 sqft Built 1998

$319,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $124.80
  • 3 Days on Market
  • MLS # : 3708275
  • Updated Date : 02/13/2021 at 18:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,556 sqft
  • Baths : 2 full , 1 half
Listing Agent

Wilkinson Era Real Estate

Listing Agent's Description

***Multiple Offers Received - Please submit your best by 12:00pm Sunday 2/14***Beautifully updated home in popular Holly Park! Excellent open and airy floor-plan with soaring 2-story foyer entrance and high 9' ceilings on main floor. Freshly painted throughout. Large office and dining rooms. Gorgeous updated kitchen with granite countertops and plentiful cabinet space. Gleaming expansive high-end laminate flooring on main floor and upstairs hallway. Spacious master-bedroom with vaulted ceilings. Renovated bathrooms with exquisite luxury finishes. Window in laundry room lets the light pour in. Gas-log fireplace in great-room for coziness and warmth. All situated on a unique over-sized cul-de-sac lot. Huge fully-fenced in backyard. Newer HVAC (2018). Great schools. Excellent location close to Sun Valley and all the shopping and amenities. Check this home out!

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: 28079

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Zip Code: 28079

ZipNIR 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
Sun Valley Elementary School Primary Regular 695 45 9
Sun Valley Middle School Middle Regular 1,365 69 6
Sun Valley High School High Regular 1,306 76 7

Sun Valley Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 45
9
GreatSchools Rating

Sun Valley Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 69
6
GreatSchools Rating

Sun Valley High School

  • Education Level: High
  • # of students: 1,306
  • # of teachers: 76
7
GreatSchools Rating
 

$287,100$350,900$319,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,108
Property Tax -$208
Property Insurance -$75
HOA -$35
Property Management Fees -$119
CASH FLOW
$164

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.

$319,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.3%
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$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,108

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$35,628

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,808

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,710
1$1,7102$1,7253$1,7954$1,8505$2,025
$2,025
RENT COMPS ANALYSIS
  • 7545 Sparkleberry Drive Indian Trail, NC 1
    • 4 beds 3 baths ∙ 2,556 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,556 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.67
    •  
  • 5002 Breeze Lane Indian Trail, NC 2
    • 3 beds 3 baths ∙ 2,638 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,638 Sqft ∙ Built 2005
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.65
    •  
  • 2213 Shumard Circle Indian Trail, NC 3
    • 4 beds 3 baths ∙ 2,390 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,390 Sqft ∙ Built 2001
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.75
    •  
  • 6501 Afterglow Drive Indian Trail, NC 4
    • 5 beds 3 baths ∙ 2,689 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,689 Sqft ∙ Built 1999
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.69
    •  
  • 5809 Lindley Crescent Drive Indian Trail, NC 5
    • 5 beds 3 baths ∙ 2,724 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,724 Sqft ∙ Built 2005
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $0.74
    •  
PROPERTY LISTING DETAILS
Valeriy Solodyankin
1.704.222.5226
Wilkinson Era Real Estate
BESbswy