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7908 Bristle Lane Charlotte, NC 28214

4 Beds 3 Baths 2,419 sqft Built 2002

$299,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $123.60
  • 2 Days on Market
  • MLS # : 3685549
  • Updated Date : 11/21/2020 at 22:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,419 sqft
  • Baths : 3 full
Listing Agent

Southern Homes Of The Carolinas

Listing Agent's Description

WOW! Former Model Home! This Gorgeous 2 story 4 BR 3 full bath home with over $30,000 in custom upgrades everywhere! Gorgeous Wood laminate flooring, Freshly Painted, featuring a Beautifully upgraded kitchen with custom cabinets, granite countertops, tile back splash, and stainless steel appliances. Fully upgraded bathrooms! 2 story great room with a gas log fireplace. Master bedroom on main level and secondary bedroom with a full bath is perfect for guests. This is a designers dream home! Big private corner lot! Expanded concrete driveway to fit up to 6 cars. Irrigation system. Close to Charlotte Douglas Airport, shopping, uptown and easy access to interstates!! Hurry This Won't 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: Coulwood West

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $104k235k

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

Neighborhood: Coulwood West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350140014501500Rent in $7871518

* 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
Paw Creek Elementary School Primary Regular 530 37 5
Coulwood Middle School Middle Regular 694 45 7
West Mecklenburg High School High Regular 2,040 108 1

Paw Creek Elementary School

  • Education Level: Primary
  • # of students: 530
  • # of teachers: 37
5
GreatSchools Rating

Coulwood Middle School

  • Education Level: Middle
  • # of students: 694
  • # of teachers: 45
7
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,103
Property Tax -$261
Property Insurance -$73
HOA -$29
Property Management Fees -$155
CASH FLOW
$100

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.

$299,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.1%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$23,124

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,705

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4953$1,5504$1,5955$1,720
$1,720
RENT COMPS ANALYSIS
  • 7908 Bristle Lane Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,419 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,419 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.71
    •  
  • 7225 Hidden Creek Drive Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,105 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,105 Sqft ∙ Built 2004
    property image
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.66
    •  
  • 6917 Seney Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 2007
    property image
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.70
    •  
  • 6420 Wedron Court Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2003
    property image
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.72
    •  
  • 7003 Bullock Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 2005
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.71
    •  
PROPERTY LISTING DETAILS
Paul Yancey
1.704.287.4696
Southern Homes Of The Carolinas
BESbswy