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8127 Cliffside Drive #16 Charlotte, NC 28270

4 Beds 3 Baths 2,521 sqft Built 1972

$369,900

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1972
  • Price/Sqft : $146.73
  • 4 Days on Market
  • MLS # : 3676185
  • Updated Date : 10/31/2020 at 00:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,521 sqft
  • Baths : 3 full
Listing Agent

Capo Casale Realty

Listing Agent's Description

Beautifully Renovated Home in Mature Neighborhood! New Kitchen Cabinets, Granite Countertops, Appliances including Refrigerator. Hardwoods in Main Living Areas. All New Bathrooms with tile Flooring and Granite Counter top Vanities. New Architectural Roof! New Lighting Fixtures! New Double Deck that allows for Outdoor Serenity.New Water Heater with Expansion Tank HVAC is Approx 2 years Old. Freshly Landscaped Front Yard. New Windows. Upper level has 3 BRs, 2FBA's, Lower Level has BR and 2nd BR/ or Office. Family Room with Fireplace and Laundry Room. So Much New! Please do not park on Driveway, New Asphalt,10/30/2020, Lovely Home! This is a home for someone that wants a low maintenance yard as there is no back lawn. Yard extends into the Tree area. No Survey on Hand.

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: Sardis Forest

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $116k351k

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

Neighborhood: Sardis Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8441978

* 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
Lansdowne Elementary School Primary Regular 643 41 5
Mcclintock Middle School Middle Regular 855 55 3
East Mecklenburg High School High Regular 1,840 111 6

Lansdowne Elementary School

  • Education Level: Primary
  • # of students: 643
  • # of teachers: 41
5
GreatSchools Rating

Mcclintock Middle School

  • Education Level: Middle
  • # of students: 855
  • # of teachers: 55
3
GreatSchools Rating

East Mecklenburg High School

  • Education Level: High
  • # of students: 1,840
  • # of teachers: 111
6
GreatSchools Rating
 

$332,910$406,890$369,900

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,365
Property Tax -$342
Property Insurance -$75
Property Management Fees -$171
CASH FLOW
-$52

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.

$369,900

PROJECTED PRICE

$1,900

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
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-$4.0k-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,774

INVESTMENT

$103,774

Down Payment
$92,475
Rehab Estimate
$5,750
Closing Costs
$5,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,475
Loan Amount $277,425
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$17,099

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,004

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7953$1,8504$1,9005$2,415
$2,415
RENT COMPS ANALYSIS
  • 8127 Cliffside Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,521 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,521 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.75
    •  
  • 6229 Garamond Drive Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,212 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,212 Sqft ∙ Built 1993
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.72
    •  
  • 9322 Sardis Forest Drive Charlotte, NC 2
    • 4 beds 2 baths ∙ 2,407 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,407 Sqft ∙ Built 1979
    LEASED 08/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.75
    •  
  • 7911 Sardis Creek Lane Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2011
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.84
    •  
  • 9517 Hunting Court Matthews, NC 5
    • 4 beds 3 baths ∙ 2,865 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,865 Sqft ∙ Built 1987
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,415
    • $0.84
    •  
PROPERTY LISTING DETAILS
Michele Feleppa
1.704.661.1344
Capo Casale Realty
BESbswy