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8306 Heathcrest Court Charlotte, NC 28269

4 Beds 3 Baths 2,892 sqft Built 1997

$369,500

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1997
  • Price/Sqft : $127.77
  • 22 Days on Market
  • MLS # : 3668962
  • Updated Date : 11/02/2020 at 15:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,892 sqft
  • Baths : 2 full , 1 half
Listing Agent

Swc Realty Llc

Listing Agent's Description

A must see before it's gone, beautiful 4 bedroom, 2.5 bathroom home in the very popular Highland Creek Community. Large bedrooms/bathrooms/walk-in closets are just a few of it's many perks. The kitchen has been upgraded to include tile back splashes, granite counter tops, including a granite kitchen island, separate wet bar and laundry room. Roof, HVAC, water heater all approximately 5 years old. A fully fenced backyard is great for children/animals including a deck. Exclusive Highland Creek includes 7 parks, multiple pools, lighted tennis courts, club house, walking trails, golf courses, and Highland Creek elementary school. When you hear location, location, location, this property has it all with quick access to schools, shopping, restaurants, and Concord Mills. Make your appointment asap before this highly sought after location is sold.

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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: McChesney

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $116k335k

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

Neighborhood: McChesney

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8442031

* 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
Highland Creek Elementary School Primary Regular 1,105 57 7
Ridge Road Middle School Middle Regular 1,285 65 6
Mallard Creek High School High Regular 2,472 123 6

Highland Creek Elementary School

  • Education Level: Primary
  • # of students: 1,105
  • # of teachers: 57
7
GreatSchools Rating

Ridge Road Middle School

  • Education Level: Middle
  • # of students: 1,285
  • # of teachers: 65
6
GreatSchools Rating

Mallard Creek High School

  • Education Level: High
  • # of students: 2,472
  • # of teachers: 123
6
GreatSchools Rating
 

$332,550$406,450$369,500

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,363
Property Tax -$338
Property Insurance -$82
HOA -$54
Property Management Fees -$179
CASH FLOW
-$26

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.

$369,500

PROJECTED PRICE

$1,990

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.4%
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

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$103,668

INVESTMENT

$103,668

Down Payment
$92,375
Rehab Estimate
$5,750
Closing Costs
$5,543

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,363

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,375
Loan Amount $277,125
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$18,501

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,981

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,7953$1,9904$2,0505$2,100
$2,100
RENT COMPS ANALYSIS
  • 8306 Heathcrest Court Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,892 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,892 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.69
    •  
  • 10233 Dominion Village Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,848 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,848 Sqft ∙ Built 2005
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.63
    •  
  • 1454 Bedlington Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 2006
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.65
    •  
  • 6527 Moonlight Lane Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,775 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,775 Sqft ∙ Built 1994
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.74
    •  
  • 3430 Dominion Green Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,916 Sqft ∙ Built 4 beds 3 baths ∙ 2,916 Sqft ∙ Built
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.72
    •  
PROPERTY LISTING DETAILS
Suzanne Cranford
1.704.779.1953
Swc Realty Llc
BESbswy