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8213 Greenford Court Charlotte, NC 28277

4 Beds 3 Baths 2,564 sqft Built 1995

$418,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $163.03
  • 4 Days on Market
  • MLS # : 3698706
  • Updated Date : 01/14/2021 at 13:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,564 sqft
  • Baths : 3 full
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Charlotte two-story cul-de-sac home offers a patio, granite countertops, and a two-car garage. This home is vacant and cleaned regularly.

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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: Provincetowne

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $116k363k

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

Neighborhood: Provincetowne

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8442138

* 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
Hawk Ridge Elementary School Primary Regular 881 49 9
Community House Middle School Middle Regular 1,750 81 9
Ardrey Kell High School High Regular 2,701 127 9

Hawk Ridge Elementary School

  • Education Level: Primary
  • # of students: 881
  • # of teachers: 49
9
GreatSchools Rating

Community House Middle School

  • Education Level: Middle
  • # of students: 1,750
  • # of teachers: 81
9
GreatSchools Rating

Ardrey Kell High School

  • Education Level: High
  • # of students: 2,701
  • # of teachers: 127
9
GreatSchools Rating
 

$376,200$459,800$418,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,452
Property Tax -$364
Property Insurance -$75
HOA -$45
Property Management Fees -$119
CASH FLOW
$275

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.

$418,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.4%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$116,520

INVESTMENT

$116,520

Down Payment
$104,500
Rehab Estimate
$5,750
Closing Costs
$6,270

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,452

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,500
Loan Amount $313,500
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$51,699

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,327

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2503$2,3304$2,3955$2,495
$2,495
RENT COMPS ANALYSIS
  • 8213 Greenford Court Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,564 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,564 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.91
    •  
  • 9518 Ridgeforest Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,550 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,550 Sqft ∙ Built 2006
    property image
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.86
    •  
  • 8601 Chatsworth Lane Waxhaw, NC 2
    • 3 beds 3 baths ∙ 2,500 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,500 Sqft ∙ Built 2000
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.90
    •  
  • 11523 Ardrey Crest Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,714 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,714 Sqft ∙ Built 2010
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.88
    •  
  • 8504 Tonawanda Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 1994
    property image
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.91
    •  
PROPERTY LISTING DETAILS
Verria Hairston
1.704.751.0133
Opendoor Brokerage Llc
BESbswy