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8246 Pamplin Court Charlotte, NC 28273

5 Beds 4 Baths 3,459 sqft Built 2016

$399,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $115.35
  • 2 Days on Market
  • MLS # : 3706079
  • Updated Date : 02/06/2021 at 12:33
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,459 sqft
  • Baths : 3 full , 1 half
Listing Agent

Carver Pressley, Realtors

Listing Agent's Description

Beautiful Home in Berewick with 5 bedrooms, 3.5 baths plus a bonus room! This open floor plan features hardwood flooring throughout the living area. A spacious kitchen with lots of counter top space, granite countertops and stainless steel appliances. Spacious master bedroom with walk in closet and a master bathroom with standup shower and soaking tub. Large backyard! The amenities in this neighborhood include 2 pools, basketball court, walking trail, club house with gym, volleyball court and playground. This home is near the Premier Outlets, grocery stores, restaurants and I-485. Make your appointment today it won't last long!!

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: Steele Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Steele Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
 

$359,100$438,900$399,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,386
Property Tax -$368
Property Insurance -$92
HOA -$67
Property Management Fees -$119
CASH FLOW
$189

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.

$399,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.0%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

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$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

7.83

YEARS SAVED

$40,771

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $2,196

    COMP ESTIMATED VALUE
  • $0.64

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0003$2,2004$2,2205$2,399
$2,399
RENT COMPS ANALYSIS
  • 8246 Pamplin Court Charlotte, NC 4
    • 5 beds 4 baths ∙ 3,459 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,459 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.64
    •  
  • 10326 Newbridge Road Charlotte, NC 1
    • 4 beds 3 baths ∙ 3,147 Sqft ∙ Built 2011 4 beds 3 baths ∙ 3,147 Sqft ∙ Built 2011
    LEASED 08/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.62
    •  
  • 10412 Glenburn Lane Charlotte, NC 2
    • 5 beds 3 baths ∙ 3,520 Sqft ∙ Built 2008 5 beds 3 baths ∙ 3,520 Sqft ∙ Built 2008
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.57
    •  
  • 8827 Sedgeburn Drive Charlotte, NC 3
    • 5 beds 4 baths ∙ 3,495 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,495 Sqft ∙ Built 2007
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.63
    •  
  • 10420 Paisley Abbey Lane Charlotte, NC 5
    • 5 beds 5 baths ∙ 3,556 Sqft ∙ Built 2016 5 beds 5 baths ∙ 3,556 Sqft ∙ Built 2016
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,399
    • $0.67
    •  
PROPERTY LISTING DETAILS
Jason Noblitt
1.704.309.4889
Carver Pressley, Realtors
BESbswy