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7938 Lindfield Court Charlotte, NC 28227

3 Beds 2 Baths 1,189 sqft Built 1985

$214,900

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $180.74
  • 3 Days on Market
  • MLS # : 3694931
  • Updated Date : 01/01/2021 at 18:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,189 sqft
  • Baths : 2 full
Listing Agent

Ventures Realty Llc

Listing Agent's Description

LYTON PLACE - 3/2 - Priced to SELL !!!! VACANT - Beautiful Large back yard - Vaulted Ceiling in Great Room with fireplace - Move in READY - New Paint and Carpet- showings begin 10/9 -VACANT - Go and SHOW. Garage door operate manually, garage door opener DOES NOT WORK. - Seller is licensed Real Estate Broker in NC.

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: Becton Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Becton Park

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
 

$193,410$236,390$214,900

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$793
Property Tax -$187
Property Insurance -$50
HOA -$23
Property Management Fees -$119
CASH FLOW
$118

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.

$214,900

PROJECTED PRICE

$1,290

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
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

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$62,699

INVESTMENT

$62,699

Down Payment
$53,725
Rehab Estimate
$5,750
Closing Costs
$3,224

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,725
Loan Amount $161,175
See What Happens When You Reinvest Cash Flow

8.08

YEARS SAVED

$26,036

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,115

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,225
1$1,2252$1,2903$1,2954$1,3505$1,395
$1,395
RENT COMPS ANALYSIS
  • 7938 Lindfield Court Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,189 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,189 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $1.08
    •  
  • 8119 Ivy Hollow Drive Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,292 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,292 Sqft ∙ Built 1979
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.95
    •  
  • 7916 Glencannon Drive Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1993
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.93
    •  
  • 8018 Sherington Way Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1987
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.00
    •  
  • 5813 Martin Lake Road Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 1963
    LEASED 11/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.92
    •  
PROPERTY LISTING DETAILS
Jeff Beiser
1.704.617.6700
Ventures Realty Llc
BESbswy