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8164 Chilkoot Lane Locust, NC 28097

3 Beds 3 Baths 1,460 sqft Built 2015

$235,000

List Price

$1,210

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $160.96
  • 5 Days on Market
  • MLS # : 3686987
  • Updated Date : 12/05/2020 at 13:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,460 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This 2-Story, consistently well-maintained and thoroughly cleaned home feels like brand new! Situated on a quiet, private lot, this home offers a splendid fresh look with warm and neutral colors all throughout! This home welcomes you with a modern open-floor plan with laminate hard wood floors in the dining room, warm and cozy carpet in the living room and bedrooms and an inviting eat-in kitchen with breakfast bar and plenty of cooking space/storage. Additionally, a great-sized screened-in back porch offers a place for peace and comfort at the end of a long day or for that morning coffee but is also perfect for entertaining on holidays and special occassions! There is also plenty of storage with the bump-out 2-car garage and a stand-alone new storage building in the back of the home! This home won't last long!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Meadowcreek

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $72k238k

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

Neighborhood: Meadowcreek

Neighborhood2018 Q3Year20182019 Q2125013001350Rent in $12131378

* 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
A T Allen Elementary School Primary Regular 925 59 5
Mt. Pleasant Middle School Middle Regular 644 43 6
Mount Pleasant High School High Regular 831 55 4

A T Allen Elementary School

  • Education Level: Primary
  • # of students: 925
  • # of teachers: 59
5
GreatSchools Rating

Mt. Pleasant Middle School

  • Education Level: Middle
  • # of students: 644
  • # of teachers: 43
6
GreatSchools Rating

Mount Pleasant High School

  • Education Level: High
  • # of students: 831
  • # of teachers: 55
4
GreatSchools Rating
 

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

PURCHASE PRICE

$1,089$1,331$1,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,210
EXPENSES Loan Payment -$867
Property Tax -$185
Property Insurance -$54
HOA -$31
Property Management Fees -$119
CASH FLOW
-$47

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.

$235,000

PROJECTED PRICE

$1,210

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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-$2.0k$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$700k

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 50% 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

4.08

YEARS SAVED

$10,233

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,210

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,202

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,210
1$1,2102$1,2993$1,3754$1,450
$1,450
RENT COMPS ANALYSIS
  • 8164 Chilkoot Lane Locust, NC 1
    • 3 beds 3 baths ∙ 1,460 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,460 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $0.83
    •  
  • 8326 Knapp Court Locust, NC 2
    • 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 2006
    property image
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.74
    •  
  • 8222 Midas Lane Locust, NC 3
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 2015
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.86
    •  
  • 299 Whispering Hills Drive Locust, NC 4
    • 3 beds 3 baths ∙ 1,709 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,709 Sqft ∙ Built 2016
    property image
    LEASED 07/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
PROPERTY LISTING DETAILS
Adam Volk
1.704.654.7109
Coldwell Banker Realty
BESbswy