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7800 Trotter Road Charlotte, NC 28216

3 Beds 3 Baths 1,807 sqft Built 1993

$279,900

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $154.90
  • -5 Days on Market
  • MLS # : CAR3761494
  • Updated Date : 07/12/2021 at 18:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,807 sqft
  • Baths : 2 full , 1 half
Listing Agent

Carolina Realty Advisors

Listing Agent's Description

For sale is this lovely 2 story home in Claiborne Woods with the master suite on the main. This home features beautiful NEW flooring on main level, NEW paint inside and out, ceiling fans, 2 inch blinds and lots of closet space. The vaulted ceilings add volume and light throughout the home. The spacious kitchen has NEW granite counters and plenty of cabinet space. There are two more bedrooms and a loft upstairs. You will love the nice, level fenced yard with wooded view and attached and detached storage buildings. Enjoy the low HOA dues and the location close to I-485 and Northlake Mall shopping and restaurants. This home has new windows with transferable warranty.

SEE MORE

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: Mountain Island

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $113k241k

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

Neighborhood: Mountain Island

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8421617

* 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
Long Creek Elementary School Primary Regular 455 31 6
Francis Bradley Middle School Middle Regular 1,140 59 6
Hopewell High School High Regular 1,653 87 3

Long Creek Elementary School

  • Education Level: Primary
  • # of students: 455
  • # of teachers: 31
6
GreatSchools Rating

Francis Bradley Middle School

  • Education Level: Middle
  • # of students: 1,140
  • # of teachers: 59
6
GreatSchools Rating

Hopewell High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 87
3
GreatSchools Rating
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$972
Property Tax -$244
Property Insurance -$61
HOA -$7
Property Management Fees -$119
CASH FLOW
$107

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$279,900

PROJECTED PRICE

$1,510

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 3.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$972

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$23,784

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,613

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,5103$1,5504$1,5505$1,695
$1,695
RENT COMPS ANALYSIS
  • 7800 Trotter Road Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,807 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,807 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.84
    •  
  • 4738 Nijinsky Court Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,788 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,788 Sqft ∙ Built 2002
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.82
    •  
  • 8903 Firestreak Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,828 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,828 Sqft ∙ Built 2004
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.85
    •  
  • 7006 Advocator Lane Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,828 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,828 Sqft ∙ Built 2006
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.85
    •  
  • 4509 Fox Thorne Drive Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,643 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,643 Sqft ∙ Built 2000
    LEASED 06/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.03
    •  
PROPERTY LISTING DETAILS
Rob Cassam
1.704.533.3074
Carolina Realty Advisors
BESbswy