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8024 Lanyard Terrace #1017D Charlotte, NC 28269

3 Beds 3 Baths 1,545 sqft Built 2021

$244,990

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $158.57
  • 3 Days on Market
  • MLS # : 3696548
  • Updated Date : 01/08/2021 at 14:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,545 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nvr Homes, Inc./ryan Homes

Listing Agent's Description

Beautiful end unit! All appliances in kitchen plus washer and dryer are included. Lower level includes finished rec room. Main level features large, open great room, spacious dining area, and beautiful kitchen. Upstairs has 3 bedrooms, 2 full baths and laundry. Serene community with 2 lakes, while still convenient to I-85 and I-77. Own for the same or less than rent within 5 miles of Uptown Charlotte! Seller will contribute $5,000 towards closing costs with the use of their preferred lender. To be built.

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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: Hamilton Circle

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Hamilton Circle

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
Statesville Road Elementary School Primary Regular 561 39 4
Ranson Middle School Middle Regular 1,138 57 3
West Charlotte High School High Regular 1,777 109 3

Statesville Road Elementary School

  • Education Level: Primary
  • # of students: 561
  • # of teachers: 39
4
GreatSchools Rating

Ranson Middle School

  • Education Level: Middle
  • # of students: 1,138
  • # of teachers: 57
3
GreatSchools Rating

West Charlotte High School

  • Education Level: High
  • # of students: 1,777
  • # of teachers: 109
3
GreatSchools Rating
 

$220,491$269,489$244,990

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$851
Property Tax -$226
Property Insurance -$56
HOA -$135
Property Management Fees -$119
CASH FLOW
-$108

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$244,990

PROJECTED PRICE

$1,280

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.2%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

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

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$66,922

INVESTMENT

$66,922

Down Payment
$61,248
Rehab Estimate
$2,000
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,248
Loan Amount $183,743
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$4,993

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,278

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,199
1$1,1992$1,2803$1,3004$1,3955$1,400
$1,400
RENT COMPS ANALYSIS
  • 8024 Lanyard Terrace Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,545 Sqft ∙ Built 2021 3 beds 3 baths ∙ 1,545 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.83
    •  
  • 4629 Brenda Court Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1982
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,199
    • $0.76
    •  
  • 4638 Esmeralda Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,642 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,642 Sqft ∙ Built 2012
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.79
    •  
  • 4526 Esmeralda Drive Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2013
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.79
    •  
  • 2730 Cochrane Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 1,612 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,612 Sqft ∙ Built 2005
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.87
    •  
PROPERTY LISTING DETAILS
Jerry Smith
1.704.610.5282
Nvr Homes, Inc./ryan Homes
BESbswy