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8201 Idlewild Road # 22 Indian Trail, NC 28079

3 Beds 2 Baths 1,443 sqft Built 1977

INVESTimate

$210,000

List Price

$1,290

$1,161 - $1,419

Rent Est.

$224,889  ( +7.09%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1977
  • Price/Sqft : $145.53
  • 6 Days on Market
  • MLS # : 3654070
  • Updated Date : 08/21/2020 at 22:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,443 sqft
  • Baths : 2 full
Listing Agent

Southern Homes Of The Carolinas

Listing Agent's Description

Open House 11am - 3 pm on Sunday 8/23/2020. This freshly painted classic BRICK ranch house has 3 bed rooms and 2 full baths. Lots of upgrades to include: NEW gas water heater(2020), new walk-in shower(2020), ALL NEW windows (2017), HVAC (2015), roof (approx. 2013). Wood floor throughout the house and have a utility storage room. Beautiful FULLY FENCED level back yard has tons of space and includes garden beds, 2 storage sheds, and a freshly painted deck to relax in the afternoon. Great opportunity to own a low maintenance home with easy access to 485, 74 express, and shopping!

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: Hemby Bridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $92k252k

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

Neighborhood: Hemby Bridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7881575

* 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
Hemby Bridge Elementary School Primary Regular 496 31 6
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Hemby Bridge Elementary School

  • Education Level: Primary
  • # of students: 496
  • # of teachers: 31
6
GreatSchools Rating

Porter Ridge Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 72
7
GreatSchools Rating

Porter Ridge High School

  • Education Level: High
  • # of students: 1,591
  • # of teachers: 77
7
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$775
Property Tax -$137
Property Insurance -$54
Property Management Fees -$116
CASH FLOW
$207

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.

$210,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 7.09%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$33,128

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
  • $0.89

    LIST RENT PER SQFT
  • $1,385

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2903$1,2954$1,2955$1,550
$1,550
RENT COMPS ANALYSIS
  • 8201 Idlewild Road Indian Trail, NC 2
    • 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.89
    •  
  • 8505 Beacon Hills Road Indian Trail, NC 1
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1978
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.96
    •  
  • 5814 Woody Grove Road Indian Trail, NC 3
    • 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 1975
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.01
    •  
  • 6402 Clearwater Drive Indian Trail, NC 4
    • 3 beds 3 baths ∙ 1,414 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,414 Sqft ∙ Built 1979
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.92
    •  
  • 3005 Moonstone Lane Indian Trail, NC 5
    • 4 beds 2 baths ∙ 1,632 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,632 Sqft ∙ Built 2003
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.95
    •  
PROPERTY LISTING DETAILS
Miki Khanlun
1.980.208.8869
Southern Homes Of The Carolinas
BESbswy