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PROPERTY INFO
FACTS
- Single Family
- Built In 1968
- Price/Sqft : $133.87
- 2 Days on Market
- MLS # : 3690890
- Updated Date : 12/19/2020 at 10:49
CONSTRUCTION
- Beds : 4
- Floor Size : 2,465 sqft
- Baths : 3 full , 1 half
Listing Agent
Costello Real Estate And Investments
Listing Agent's Description
Imagine being so close to the city and the airport all at one time while feeling like you are in the country! This updated brick home has 3 levels of living space and 3/4 acre with a conservancy behind to protect from development. Enter into the gracious slate foyer and large sunny living room with bay window. Beautiful hardwoods throughout. Eat in kitchen features center island, stainless steel appliances and granite counters. Have the master bedroom either upstairs or keep it down stairs and use the upstairs as a kid's area. So many options for family members. Huge walk out basement with fireplace and plenty of room for family, office, workout space, etc. Two car garage and tons of storage as well. Ever thought of keeping chickens? The coop is all ready complete with nesting boxes- fresh eggs all year round! Small barn for dogs, extra storage or even small farm animals. The planter boxes make gardening a pleasure.
SEE MORE
- 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: Oakdale South
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Oakdale South
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,780 |
| EXPENSES | Loan Payment | -$1,218 |
| Property Tax | -$288 | |
| Property Insurance | -$74 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$82
|
||
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.
$330,000
PROJECTED PRICE
$1,780
PROJECTED RENT
0.54%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 8.0% |
| 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
$93,200
LOAN DETAILS
$1,218
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $82,500 |
| Loan Amount | $247,500 |
6.42
YEARS SAVED
$29,102
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,780
LIST RENT -
$0.72
LIST RENT PER SQFT
-
$1,744
COMP ESTIMATED VALUE -
$0.71
COMP AVG. RENT PER SQFT
Comps Range
-
8121 Larkhaven Road Charlotte, NC 5
- 4 beds 4 baths ∙ 2,465 Sqft ∙ Built 1968 4 beds 4 baths ∙ 2,465 Sqft ∙ Built 1968
- Rent
- Rent Per SQFT
- $1,780
- $0.72
-
6917 Seney Drive Charlotte, NC 1
- 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 2007
LEASED 12/15/19- Rent
- Rent Per SQFT
- $1,495
- $0.70
-
258 Enwood Drive Charlotte, NC 2
- 3 beds 2 baths ∙ 2,291 Sqft ∙ Built 1965 3 beds 2 baths ∙ 2,291 Sqft ∙ Built 1965
LEASED 10/14/19- Rent
- Rent Per SQFT
- $1,535
- $0.67
-
6420 Wedron Court Charlotte, NC 3
- 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2003
LEASED 10/07/19- Rent
- Rent Per SQFT
- $1,550
- $0.72
-
7003 Bullock Drive Charlotte, NC 4
- 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 2005
LEASED 05/26/20- Rent
- Rent Per SQFT
- $1,595
- $0.71
PROPERTY LISTING DETAILS
1.980.253.0827
Costello Real Estate And Investments
