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8215 Dallas Bay Road Charlotte, NC 28278

4 Beds 3 Baths 2,146 sqft Built 2016

$325,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $151.44
  • 4 Days on Market
  • MLS # : 3683429
  • Updated Date : 11/19/2020 at 19:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,146 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dane Warren Real Estate

Listing Agent's Description

Beautiful move-in ready home in sought after Berewick community. This meticulously maintained home features a bright and sunny open floor plan with hardwood floors throughout the main level, family room with fireplace. This beautiful 4 bedroom home and enjoy the large dining room that leads you into the open and spacious great room and kitchen with gas fireplace, granite countertops, gas range, tons of counter space and cabinets for storage. Upstairs you'll find the master bedroom with spa-like ensuite bathroom, 2 spare bedrooms and a 4th bedroom/bonus room.

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: Berewick

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Berewick

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8441914

* 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
Berewick Elementary School Primary Regular 601 38 6
Kennedy Middle School Middle Regular 722 43 4
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

Berewick Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 38
6
GreatSchools Rating

Kennedy Middle School

  • Education Level: Middle
  • # of students: 722
  • # of teachers: 43
4
GreatSchools Rating

Math, Engineering, Technology And Science At Olympic High School

  • Education Level: High
  • # of students: 607
  • # of teachers: 28
7
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,199
Property Tax -$286
Property Insurance -$68
HOA -$67
Property Management Fees -$159
CASH FLOW
-$9

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.

$325,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.0%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$17,313

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,733

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,549
1$1,5492$1,6953$1,7454$1,7705$2,100
$2,100
RENT COMPS ANALYSIS
  • 8215 Dallas Bay Road Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,146 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,146 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.82
    •  
  • 10510 Hawick Court Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,992 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,992 Sqft ∙ Built 2006
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $0.78
    •  
  • 5712 Selkirkshire Road Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,184 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,184 Sqft ∙ Built 2015
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.78
    •  
  • 5826 Langwell Lane Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 2009
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.83
    •  
  • 10004 Perth Moor Road Charlotte, NC 5
    • 3 beds 3 baths ∙ 2,484 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,484 Sqft ∙ Built 2017
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.85
    •  
PROPERTY LISTING DETAILS
Raj Adusumilli
1.803.431.6001
Dane Warren Real Estate
BESbswy