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8134 Belmont Stables Drive Charlotte, NC 28216

3 Beds 3 Baths 1,832 sqft Built 2004

$235,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $128.28
  • 2 Days on Market
  • MLS # : 3681938
  • Updated Date : 11/14/2020 at 19:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,832 sqft
  • Baths : 2 full , 1 half
Listing Agent

Northgroup Real Estate, Inc.

Listing Agent's Description

Enter the arched foyer peering into the family room with fireplace. The open floor plan features new granite counter tops in the kitchen with all stainless steel appliances. The double oven will accommodate the baker in the family. Ceramic tile in the kitchen and dining area flows out to the patio and the flat, privacy fenced back yard with separate storage shed. All bedrooms on the second level with large loft and separate laundry room. The spacious master bedroom features high cathedral ceiling and plant shelf along entire wall. Five piece deluxe master bathroom with dual vanities, garden tub & separate shower. County only taxes, very low HOA dues!

SEE MORE

MARKET HIGHLIGHTS

  • 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: Mountain Island

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $113k241k

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

Neighborhood: Mountain Island

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8421617

* 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
Long Creek Elementary School Primary Regular 455 31 6
Francis Bradley Middle School Middle Regular 1,140 59 6
Hopewell High School High Regular 1,653 87 3

Long Creek Elementary School

  • Education Level: Primary
  • # of students: 455
  • # of teachers: 31
6
GreatSchools Rating

Francis Bradley Middle School

  • Education Level: Middle
  • # of students: 1,140
  • # of teachers: 59
6
GreatSchools Rating

Hopewell High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 87
3
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$867
Property Tax -$205
Property Insurance -$62
HOA -$24
Property Management Fees -$124
CASH FLOW
$98

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.

$235,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$19,827

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,507

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,349
1$1,3492$1,3803$1,4204$1,4495$1,595
$1,595
RENT COMPS ANALYSIS
  • 8134 Belmont Stables Drive Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,832 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,832 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.75
    •  
  • 3824 Pimilico Trace Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 1,835 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,835 Sqft ∙ Built 2005
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.74
    •  
  • 8126 Belmont Stables Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,640 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,640 Sqft ∙ Built 2005
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.87
    •  
  • 3706 Pimilico Trace Lane Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2005
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.88
    •  
  • 8932 Avery Meadows Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2015
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.80
    •  
PROPERTY LISTING DETAILS
Darrell Mullins
1.704.906.2841
Northgroup Real Estate, Inc.
BESbswy