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807 Park Road Dallas, NC 28034

3 Beds 1 Baths 984 sqft Built 1968

$165,000

List Price

$1,150

$1K - $1.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $167.68
  • 4 Days on Market
  • MLS # : 3696601
  • Updated Date : 01/07/2021 at 23:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 984 sqft
  • Baths : 1 full
Listing Agent

Costello Real Estate And Investments Fort Mill Llc

Listing Agent's Description

Fully renovated in an ideal location Open floorpan Stainless steel appliances Washer and dryer hookups in unit Rented at 1200/mo. Lease ends Jan. 2022

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: Dallas

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k213k

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

Neighborhood: Dallas

ZipNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300Rent in $6411375

* 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
Carr Elementary School Primary Regular 647 40 5
W.c. Friday Middle School Middle Regular 687 38 4
North Gaston High School High Regular 1,095 60 3

Carr Elementary School

  • Education Level: Primary
  • # of students: 647
  • # of teachers: 40
5
GreatSchools Rating

W.c. Friday Middle School

  • Education Level: Middle
  • # of students: 687
  • # of teachers: 38
4
GreatSchools Rating

North Gaston High School

  • Education Level: High
  • # of students: 1,095
  • # of teachers: 60
3
GreatSchools Rating
 

$148,500$181,500$165,000

PURCHASE PRICE

$1,035$1,265$1,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,150
EXPENSES Loan Payment -$573
Property Tax -$107
Property Insurance -$46
Property Management Fees -$119
CASH FLOW
$305

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.

$165,000

PROJECTED PRICE

$1,150

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 3.6%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k$450k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$49,475

INVESTMENT

$49,475

Down Payment
$41,250
Rehab Estimate
$5,750
Closing Costs
$2,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$573

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $41,250
Loan Amount $123,750
See What Happens When You Reinvest Cash Flow

13.92

YEARS SAVED

$37,229

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,150

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,150
$1,150
RENT COMPS ANALYSIS
  • 807 Park Road Dallas, NC
    • 3 beds 1 baths ∙ 984 Sqft ∙ Built 1968 3 beds 1 baths ∙ 984 Sqft ∙ Built 1968
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.17
    •  
PROPERTY LISTING DETAILS
Shenera "nera" Belton
1.803.415.2154
Costello Real Estate And Investments Fort Mill Llc
BESbswy