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7701 Bradenton Drive Charlotte, NC 28210

3 Beds 3 Baths 2,514 sqft Built 1979

$350,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $139.22
  • 9 Days on Market
  • MLS # : 3692634
  • Updated Date : 12/26/2020 at 17:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,514 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Move Right in! Excellent value for Quail Hollow Estates. Brand new carpet, Fresh interior paint throughout and exterior freshly painted all within the last 30 days. Wonderful outdoor deck space on both the front and back porches. White cabinets in kitchen with handy rollouts, granite counters, stainless appliances and tile backsplash. Fireplaces upstairs and downstairs which will be sold "as is" conditions. No known problems. The Lower level has excellent natural light. Neighborhood walking trails connect to the Greenway! Convenient South Park location. WE ARE IN A MULTIPLE OFFER SITUATION. PLEASE SUMBIT HIGHEST AND BEST OFFER BY SUNDAY DECEMBER 27TH AT 4:00PM

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MARKET HIGHLIGHTS

  • 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: Quail Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $116k371k

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

Neighborhood: Quail Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8442041

* 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
Smithfield Elementary School Primary Regular 646 44 6
Quail Hollow Middle School Middle Regular 946 51 3
South Mecklenburg High School High Regular 2,913 147 7

Smithfield Elementary School

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 44
6
GreatSchools Rating

Quail Hollow Middle School

  • Education Level: Middle
  • # of students: 946
  • # of teachers: 51
3
GreatSchools Rating

South Mecklenburg High School

  • Education Level: High
  • # of students: 2,913
  • # of teachers: 147
7
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,291
Property Tax -$401
Property Insurance -$74
HOA -$17
Property Management Fees -$119
CASH FLOW
$268

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.

$350,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.6%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$54,027

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,602

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1703$2,5004$2,9005$2,995
$2,995
RENT COMPS ANALYSIS
  • 7701 Bradenton Drive Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,514 Sqft ∙ Built 1979 3 beds 3 baths ∙ 2,514 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.86
    •  
  • 2510 Red Barn Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,229 Sqft ∙ Built 1967 4 beds 3 baths ∙ 2,229 Sqft ∙ Built 1967
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
  • 2823 Goneaway Road Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,490 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,490 Sqft ∙ Built 1965
    property image
    LEASED 09/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.00
    •  
  • 6232 Sharon Road Charlotte, NC 4
    • 3 beds 4 baths ∙ 2,616 Sqft ∙ Built 1959 3 beds 4 baths ∙ 2,616 Sqft ∙ Built 1959
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.11
    •  
  • 3801 Ashton Drive Charlotte, NC 5
    • 3 beds 2 baths ∙ 2,646 Sqft ∙ Built 1967 3 beds 2 baths ∙ 2,646 Sqft ∙ Built 1967
    property image
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.13
    •  
PROPERTY LISTING DETAILS
Rita Fleming-johnson
1.704.577.1225
Exp Realty Llc
BESbswy