Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

7730 Cedar Tree Lane Charlotte, NC 28227

4 Beds 3 Baths 2,150 sqft Built 1979

$290,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $134.88
  • 5 Days on Market
  • MLS # : 3716728
  • Updated Date : 03/13/2021 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,150 sqft
  • Baths : 2 full , 1 half
Listing Agent

Movement One Realty Llc

Listing Agent's Description

Move in ready 2150 sq ft home on cul-de-sac with 4 beds 2.5 baths under 300K!!! This home has had a full makeover. This includes NEW HVAC, NEW ROOF, NEW WINDOWS, NEW WATER HEATER, NEW FLOORS, NEW CABINETS, NEW GRANITE COUNTERS, NEW PAINT INSIDE AND OUT, NEW TILED IN SHOWER AND TUB! Every bathroom, every bedroom, the kitchen and more has been upgraded. It is in a very desirable location in Chestnut Lake/ Marlwood area! Move in ready and under 300k IN Charlotte is getting impossible to find. This one has that and then some. I don't expect this to last long!

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: Marlwood

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Marlwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771518

* 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
Albemarle Road Elementary School Primary Regular 1,338 79 5
Albemarle Road Middle School Middle Regular 1,198 64 2
Independence High School High Regular 2,349 128 6

Albemarle Road Elementary School

  • Education Level: Primary
  • # of students: 1,338
  • # of teachers: 79
5
GreatSchools Rating

Albemarle Road Middle School

  • Education Level: Middle
  • # of students: 1,198
  • # of teachers: 64
2
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 2,349
  • # of teachers: 128
6
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,007
Property Tax -$253
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$213

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.

$290,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.7%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$35,681

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,715

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,3953$1,6494$1,6605$1,800
$1,800
RENT COMPS ANALYSIS
  • 7730 Cedar Tree Lane Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,150 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,150 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.77
    •  
  • 7112 Sycamore Grove Court Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,823 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,823 Sqft ∙ Built 2006
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.77
    •  
  • 701 Allister Drive Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 1958
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.75
    •  
  • 5108 Blue Spruce Lane Charlotte, NC 3
    • 4 beds 3 baths ∙ 1,980 Sqft ∙ Built 1978 4 beds 3 baths ∙ 1,980 Sqft ∙ Built 1978
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $0.83
    •  
  • 7007 Sycamore Grove Court Charlotte, NC 5
    • 3 beds 3 baths ∙ 2,145 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,145 Sqft ∙ Built 2004
    property image
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
PROPERTY LISTING DETAILS
Jim Hunter
1.704.578.3700
Movement One Realty Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3716728
Last Updated: 03/13/2021
BESbswy