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8305 Woodford Bridge Drive Charlotte, NC 28216

3 Beds 2 Baths 1,733 sqft Built 1992

$265,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $152.91
  • 7 Days on Market
  • MLS # : 3691902
  • Updated Date : 12/22/2020 at 11:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,733 sqft
  • Baths : 2 full
Listing Agent

Realty One Group Select

Listing Agent's Description

MUST SEE this beautifully renovated home home on a large .25+ acre lot. Complete with new Granite countertops, New flooring and fresh paint! MASTER ON THE MAIN floor and vaulted great room complete this spacious floor plan. Live just on the outskirts of Charlotte with easy access to Uptown, The Whitewater center, The new Riverbend Village, Lake Norman & Mountain Island lake, and Charlotte Douglas International Airport. Stove will be delivered after December 26th. Seller requests buyer use sellers law firm. Harry Marsh Law SELLER TO REVIEW ALL OFFERS AND MAKE A DECISION ON DEC 26th @ 5;00 pm

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: Northlake

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $107k318k

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

Neighborhood: Northlake

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
Long Creek Elementary School Primary Regular 455 31 6
Francis Bradley Middle School Middle Regular 1,140 59 6
Hopewell High School High Regular 1,653 87 3

Long Creek Elementary School

  • Education Level: Primary
  • # of students: 455
  • # of teachers: 31
6
GreatSchools Rating

Francis Bradley Middle School

  • Education Level: Middle
  • # of students: 1,140
  • # of teachers: 59
6
GreatSchools Rating

Hopewell High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 87
3
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$978
Property Tax -$231
Property Insurance -$60
HOA -$17
Property Management Fees -$119
CASH FLOW
$116

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.

$265,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 8.9%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$32,034

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,512

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4003$1,4204$1,4495$1,520
$1,520
RENT COMPS ANALYSIS
  • 8305 Woodford Bridge Drive Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,733 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,733 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.88
    •  
  • 7925 Ambleside Drive Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1996
    property image
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.85
    •  
  • 8253 Belmont Stables Drive Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,568 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,568 Sqft ∙ Built 2003
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.89
    •  
  • 8126 Belmont Stables Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,640 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,640 Sqft ∙ Built 2005
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.87
    •  
  • 3706 Pimilico Trace Lane Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2005
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.88
    •  
PROPERTY LISTING DETAILS
Rick Carter
1.704.668.1055
Realty One Group Select
BESbswy