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8009 Ponderosa Pine Lane Charlotte, NC 28215

3 Beds 3 Baths 2,201 sqft Built 2013

$265,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $120.40
  • 7 Days on Market
  • MLS # : 3697795
  • Updated Date : 01/13/2021 at 16:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,201 sqft
  • Baths : 2 full , 1 half
Listing Agent

Elite Homes Of The Carolinas Llc

Listing Agent's Description

This home is in excellent condition, expect to be impressed! one owner lovely 3BD, 2.5BA home is move-in ready. The open kitchen features granite countertops, an island for added cooking space, gas stove and custom beam ceiling. Beautiful hardwoods throughout the entire main level. Plenty of space for working and entertaining with an office, den, and an open loft. Large owner suite with deluxe bath, dual vanities with granite countertop, separate shower with garden tub and walk in closet. Garage have custom finished epoxy floors and a convenient drop zone at interior garage entry. DON'T MISS THIS GEM!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Silverwood

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230kPrice in $113k235k

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

Neighborhood: Silverwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8421518

* 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
Reedy Creek Elementary School Primary Regular 730 44 6
Northridge Middle School Middle Regular 779 43 3
Rocky River High School High Regular 1,710 90 3

Reedy Creek Elementary School

  • Education Level: Primary
  • # of students: 730
  • # of teachers: 44
6
GreatSchools Rating

Northridge Middle School

  • Education Level: Middle
  • # of students: 779
  • # of teachers: 43
3
GreatSchools Rating

Rocky River High School

  • Education Level: High
  • # of students: 1,710
  • # of teachers: 90
3
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$920
Property Tax -$243
Property Insurance -$77
HOA -$35
Property Management Fees -$119
CASH FLOW
$186

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.

$265,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.60%

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$29,741

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.6

    LIST RENT PER SQFT
  • $1,622

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,499
1$1,4992$1,5803$1,6004$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 8009 Ponderosa Pine Lane Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,626 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,626 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.60
    •  
  • 8257 Weeping Fig Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,376 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,376 Sqft ∙ Built 2006
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.63
    •  
  • 7043 Agava Lane Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 2016
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.65
    •  
  • 9134 Atlas Cedar Drive Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,720 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,720 Sqft ∙ Built 2002
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.59
    •  
  • 11121 Nolet Court Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2002
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.58
    •  
PROPERTY LISTING DETAILS
Belinda Carr
1.704.612.0033
Elite Homes Of The Carolinas Llc
BESbswy