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7832 Elm Tree Lane Charlotte, NC 28227

3 Beds 2 Baths 1,398 sqft Built 1981

INVESTimate

$200,000

List Price

$1,210

$1,089 - $1,331

Rent Est.

$219,440  ( +9.72%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1981
  • Price/Sqft : $143.06
  • 12 Days on Market
  • MLS # : 3652014
  • Updated Date : 08/25/2020 at 19:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,398 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Fort Mill

Listing Agent's Description

Remarkable opportunity to own a 3 bed/2 bath home in Charlotte, NC for $200k! Features vaulted ceilings, open flow between the living room, dining area, and kitchen, laundry room, and an additional sun room for extra entertaining space. This home features new LVP flooring throughout the main living areas and new carpet in the bedrooms. There is a deck off the sunroom that overlooks the spacious and flat backyard. Located in the neighborhood of Wildwood, this home is near access to Lawyers Rd., Hwy 27, and Hwy 74, with easy access to uptown Charlotte.

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
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,089$1,331$1,210

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,210
EXPENSES Loan Payment -$738
Property Tax -$174
Property Insurance -$54
Property Management Fees -$109
CASH FLOW
$135

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.

$200,000

PROJECTED PRICE

$1,210

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.72%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$23,340

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,210

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,220

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,210
1$1,2102$1,2753$1,2954$1,2995$1,299
$1,299
RENT COMPS ANALYSIS
  • 7832 Elm Tree Lane Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $0.87
    •  
  • 8435 Mission Hills Road Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 1986
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.92
    •  
  • 5215 Rolling Oak Lane Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1978
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.84
    •  
  • 7413 Pirates Cove Court Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1980
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.85
    •  
  • 8806 Brass Bell Court Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,476 Sqft ∙ Built 3 beds 3 baths ∙ 1,476 Sqft ∙ Built
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.88
    •  
PROPERTY LISTING DETAILS
Stacey Sauls
1.864.901.1087
Keller Williams Fort Mill
BESbswy