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PROPERTY INFO
FACTS
- Single Family
- Built In 1984
- Price/Sqft : $126.08
- 5 Days on Market
- MLS # : 3711549
- Updated Date : 02/27/2021 at 11:04
CONSTRUCTION
- Beds : 4
- Floor Size : 3,371 sqft
- Baths : 3 full , 1 half
Listing Agent
Allen Tate University
Listing Agent's Description
MULTIPLE OFFER SITUATION SUBMIT YOUR STRONGEST & BEST OFFER BY NOON 2/28 This custom mid century modern home offers a unique blend of an open flowing floorplan, soaring ceilings, tons of natural light, gleaming wood floors, plus todays hot features. Sunken living room offers a beautiful fplace flanked by solariums. Breakfast bar is a perfect bridge between the GR and kitchen -perfect for entertaining or quiet time together. Chef will love the kitchen -cherry cabinets, granite counter tops, sub zero fridge & dry bar. Working from home is easy. Cozy den w/built in bookcase - like the more open space? The loft offers a great place for Zoom calls or a Netflix movie marathon. After a hard day its time to unwind & relax in your luxury master suite with spa inspired bath - walk in tile shower, soaking tub and dual vanities. Enjoy the sunny days to come on the semi-covered deck on the second level overlooking your wooded and private yard.
SEE MORE
- 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: Newell
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Newell
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,090 |
| EXPENSES | Loan Payment | -$1,476 |
| Property Tax | -$400 | |
| Property Insurance | -$91 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$4
|
||
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.
$425,000
PROJECTED PRICE
$2,090
PROJECTED RENT
0.49%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 7.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$118,375
LOAN DETAILS
$1,476
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $106,250 |
| Loan Amount | $318,750 |
5.08
YEARS SAVED
$21,931
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,090
LIST RENT -
$0.62
LIST RENT PER SQFT
-
$1,947
COMP ESTIMATED VALUE -
$0.58
COMP AVG. RENT PER SQFT
Comps Range
-
8229 Getalong Road Charlotte, NC 5
- 4 beds 4 baths ∙ 3,371 Sqft ∙ Built 1984 4 beds 4 baths ∙ 3,371 Sqft ∙ Built 1984
![property image]()
- Rent
- Rent Per SQFT
- $2,090
- $0.62
-
9911 Jeanette Circle Charlotte, NC 1
- 4 beds 3 baths ∙ 3,127 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,127 Sqft ∙ Built 2004
![property image]()
LEASED 05/26/20- Rent
- Rent Per SQFT
- $1,775
- $0.57
-
2605 Impatien Drive Charlotte, NC 2
- 4 beds 3 baths ∙ 3,210 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,210 Sqft ∙ Built 2015
![property image]()
LEASED 12/06/19- Rent
- Rent Per SQFT
- $1,815
- $0.57
-
4115 Rosefield Court Charlotte, NC 3
- 4 beds 3 baths ∙ 3,267 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,267 Sqft ∙ Built 2005
![property image]()
LEASED 07/03/20- Rent
- Rent Per SQFT
- $1,875
- $0.57
-
1707 Loropetalum Road Charlotte, NC 4
- 4 beds 3 baths ∙ 3,316 Sqft ∙ Built 2017 4 beds 3 baths ∙ 3,316 Sqft ∙ Built 2017
![property image]()
LEASED 11/08/19- Rent
- Rent Per SQFT
- $1,995
- $0.60
PROPERTY LISTING DETAILS
1.704.619.0963
Allen Tate University
MLS #: 3711549
Last Updated: 02/27/2021
