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PROPERTY INFO
FACTS
- Single Family
- Built In 2004
- Price/Sqft : $155.62
- 4 Days on Market
- MLS # : 3698406
- Updated Date : 01/15/2021 at 14:24
CONSTRUCTION
- Beds : 3
- Floor Size : 1,478 sqft
- Baths : 2 full , 1 half
Listing Agent
Keller Williams Ballantyne Area
Listing Agent's Description
MULTIPLE OFFERS RECEIVED. Sellers are calling for HIGHEST & BEST no Later than 2pm Sat, Jan, 16th. Charming 3 bedroom, 2.5 bath home in the Avery Glen subdivision. Ready for it's new owners with new LVP flooring & fresh neutral paint throughout main level. Open floor plan with tons of natural light. Entry flows into Dining space, kitchen (with new stove added March 2020) and living room, great for entertaining. Upstairs you'll find all three bedrooms, including owners suite, complete with double vanity sink and walk in closet. 2 additional bedrooms and full hall bath complete the upper level. Furnace & HVAC updated in 2018 & 2019. Just minutes from 485, 85, shopping, dining, Whitewater Center, Lake access and all that Charlotte has to offer. Quick commute to Uptown, University area or Airport. Welcome home!
SEE MORE
- 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: Mountain Island
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Mountain Island
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,290 |
| EXPENSES | Loan Payment | -$799 |
| Property Tax | -$201 | |
| Property Insurance | -$55 | |
| HOA | -$24 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$92
|
||
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.
$230,000
PROJECTED PRICE
$1,290
PROJECTED RENT
0.56%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 3.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$66,700
LOAN DETAILS
$799
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $57,500 |
| Loan Amount | $172,500 |
7.17
YEARS SAVED
$19,673
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 -
$0.87
LIST RENT PER SQFT
-
$1,290
COMP ESTIMATED VALUE -
$0.87
COMP AVG. RENT PER SQFT
Comps Range
-
8113 Belmont Stables Drive Charlotte, NC 1
- 3 beds 3 baths ∙ 1,478 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,478 Sqft ∙ Built 2004
- Rent
- Rent Per SQFT
- $1,290
- $0.87
-
7925 Ambleside Drive Charlotte, NC 2
- 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1996
LEASED 04/09/20- Rent
- Rent Per SQFT
- $1,395
- $0.85
-
8253 Belmont Stables Drive Charlotte, NC 3
- 3 beds 3 baths ∙ 1,568 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,568 Sqft ∙ Built 2003
LEASED 03/13/20- Rent
- Rent Per SQFT
- $1,400
- $0.89
-
8126 Belmont Stables Drive Charlotte, NC 4
- 3 beds 3 baths ∙ 1,640 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,640 Sqft ∙ Built 2005
LEASED 02/13/20- Rent
- Rent Per SQFT
- $1,420
- $0.87
-
3706 Pimilico Trace Lane Charlotte, NC 5
- 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2005
LEASED 03/19/20- Rent
- Rent Per SQFT
- $1,449
- $0.88
PROPERTY LISTING DETAILS
1.336.202.5235
Keller Williams Ballantyne Area
