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7935 Sweet Grove Court Charlotte, NC 28269

4 Beds 3 Baths 2,540 sqft Built 2014

$319,900

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $125.94
  • 18 Days on Market
  • MLS # : 3691704
  • Updated Date : 01/02/2021 at 14:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,540 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mg Real Estate Group

Listing Agent's Description

Beautiful 2-story home with second story balcony located in the SweetBriar neighborhood. Easy access to 1-77, I-485, and I-85. This beautifully kept home features an open floor plan, with 4 bedrooms and loft. Stainless appliances and granite countertops and stunning engineered hardwoods on the main level. A must see!

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: Davis Lake - Eastfield

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Davis Lake - Eastfield

NeighborhoodNIR 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
Croft Community School Primary Regular 644 35 NA
J.m. Alexander Middle School Middle Regular 865 40 4
North Mecklenburg High School High Regular 1,881 101 3

Croft Community School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 35
NA
GreatSchools Rating

J.m. Alexander Middle School

  • Education Level: Middle
  • # of students: 865
  • # of teachers: 40
4
GreatSchools Rating

North Mecklenburg High School

  • Education Level: High
  • # of students: 1,881
  • # of teachers: 101
3
GreatSchools Rating
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,180
Property Tax -$286
Property Insurance -$75
HOA -$40
Property Management Fees -$119
CASH FLOW
$211

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.

$319,900

PROJECTED PRICE

$1,910

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.3%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$46,448

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,911

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8353$1,9104$1,9755$2,025
$2,025
RENT COMPS ANALYSIS
  • 7935 Sweet Grove Court Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,540 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,540 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.75
    •  
  • 8633 Ridgeline Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,617 Sqft ∙ Built 2007
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.68
    •  
  • 12435 Lookout Point Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2013
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,835
    • $0.77
    •  
  • 5122 Keels Court Charlotte, NC 4
    • 5 beds 3 baths ∙ 2,593 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,593 Sqft ∙ Built 2003
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.76
    •  
  • 10907 Tower Oak Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 2014
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $0.80
    •  
PROPERTY LISTING DETAILS
Hoover Gutierrez
1.704.287.2969
Mg Real Estate Group
BESbswy