Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

8243 Dallas Bay Road Charlotte, NC 28278

5 Beds 3 Baths 2,672 sqft Built 2016

$374,990

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $140.34
  • 4 Days on Market
  • MLS # : 3678619
  • Updated Date : 11/07/2020 at 07:06
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,672 sqft
  • Baths : 3 full
Listing Agent

Prostead Realty

Listing Agent's Description

SPECTACULAR ALMOST NEW HOME IN HIGHLY DESIRABLE INVERNESS!!! This ever popular home is on the market with many features and upgrades. The kitchen is simply amazing with a huge island that opens up into the Great Room and Breakfast Area. The Master Bath boast a Large Walk-in Shower and the double vanity provides plenty of room to avoid encroachment! Don't miss the Large Walk-in Closet either. The screen porch overlooks the rear yard that is rich with lush landscaping. Solar Panels included. Refrigerator, washer and Dryer are included. Close to Shopping, I-485 and the Airport which are all just minutes from this Spectacular Home!

SEE MORE

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: 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
 

$337,491$412,489$374,990

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,384
Property Tax -$327
Property Insurance -$77
HOA -$67
Property Management Fees -$178
CASH FLOW
-$53

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.

$374,990

PROJECTED PRICE

$1,980

PROJECTED RENT

0.53%

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$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,122

INVESTMENT

$105,122

Down Payment
$93,748
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,748
Loan Amount $281,243
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$16,738

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,084

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,9803$1,9954$2,0955$2,100
$2,100
RENT COMPS ANALYSIS
  • 8243 Dallas Bay Road Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,672 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,672 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.74
    •  
  • 6415 Hermsley Road Charlotte, NC 1
    • 5 beds 3 baths ∙ 2,682 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,682 Sqft ∙ Built 2007
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.70
    •  
  • 7308 Hamilton Bridge Road Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 2016
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.76
    •  
  • 5830 Langwell Lane Charlotte, NC 4
    • 5 beds 3 baths ∙ 2,600 Sqft ∙ Built 2011 5 beds 3 baths ∙ 2,600 Sqft ∙ Built 2011
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.81
    •  
  • 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
Rodney Jones
1.704.202.7460
Prostead Realty
BESbswy