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7830 Sarah Drive Denver, NC 28037

3 Beds 2 Baths 1,273 sqft Built 1997

$249,500

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $195.99
  • MLS # : CAR3761829
  • Updated Date : 07/13/2021 at 05:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,273 sqft
  • Baths : 2 full
Listing Agent

Helen Adams Realty

Listing Agent's Description

Coming Soon! Nearly 1,300 Sqft 3 Bed 2 Bath in Lake Haven in Denver. New New Heat pump in 2017 and new cooling unit in 2019. New luxury vinyl plank flooring. This listing will go live on 7/15. Schedule your showings now before they fill up and this one is gone!

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

Zip Code: 28037

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $118k338k

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

Zip Code: 28037

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
Rock Springs Elementary School Primary Regular 712 40 10
North Lincoln Middle School Middle Regular 710 42 8
North Lincoln High School High Regular 974 55 7

Rock Springs Elementary School

  • Education Level: Primary
  • # of students: 712
  • # of teachers: 40
10
GreatSchools Rating

North Lincoln Middle School

  • Education Level: Middle
  • # of students: 710
  • # of teachers: 42
8
GreatSchools Rating

North Lincoln High School

  • Education Level: High
  • # of students: 974
  • # of teachers: 55
7
GreatSchools Rating
 

$224,550$274,450$249,500

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$867
Property Tax -$130
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
$84

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.

$249,500

PROJECTED PRICE

$1,250

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.7%
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$100k$200k$300k$400k$500k$600k$700k$800k

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$71,868

INVESTMENT

$71,868

Down Payment
$62,375
Rehab Estimate
$5,750
Closing Costs
$3,743

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,375
Loan Amount $187,125
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$24,377

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,206

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2003$1,2004$1,2755$1,349
$1,349
RENT COMPS ANALYSIS
  • 7830 Sarah Drive Denver, NC 1
    • 3 beds 2 baths ∙ 1,273 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,273 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 7677 Lakehaven Drive Denver, NC 2
    • 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 3 beds 2 baths ∙ 1,288 Sqft ∙ Built
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.93
    •  
  • 3733 Shannon Loop Denver, NC 3
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 3 beds 2 baths ∙ 1,300 Sqft ∙ Built
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.92
    •  
  • 3724 Shannon Loop Denver, NC 4
    • 4 beds 2 baths ∙ 1,350 Sqft ∙ Built 4 beds 2 baths ∙ 1,350 Sqft ∙ Built
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.94
    •  
  • 7821 Red Robin Trail Denver, NC 5
    • 3 beds 2 baths ∙ 1,346 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,346 Sqft ∙ Built 1994
    property image
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $1.00
    •  
PROPERTY LISTING DETAILS
Trevor Hall
1.980.241.8992
Helen Adams Realty
BESbswy