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PROPERTY INFO
FACTS
- Single Family
- Built In 1989
- Price/Sqft : $165.38
- 2 Days on Market
- MLS # : 3706137
- Updated Date : 02/06/2021 at 21:25
CONSTRUCTION
- Beds : 3
- Floor Size : 1,300 sqft
- Baths : 2 full
Listing Agent
Northgroup Real Estate, Inc.
Listing Agent's Description
Remarkable ranch home recently renovated with open floor plan and high cathedral ceilings. Kitchen has granite counters with SS appliances & tile floors. Rear deck overlooks wooded private fenced back yard. No HOA and county only taxes.
SEE MORE
- 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: Mint Hill
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Mint Hill
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,200 |
| EXPENSES | Loan Payment | -$747 |
| Property Tax | -$187 | |
| Property Insurance | -$52 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$95
|
||
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.
$215,000
PROJECTED PRICE
$1,200
PROJECTED RENT
0.56%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 5.2% |
| 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
$62,725
LOAN DETAILS
$747
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $53,750 |
| Loan Amount | $161,250 |
7.42
YEARS SAVED
$19,565
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,200
LIST RENT -
$0.92
LIST RENT PER SQFT
-
$1,203
COMP ESTIMATED VALUE -
$0.93
COMP AVG. RENT PER SQFT
Comps Range
-
8327 Houndstooth Drive Charlotte, NC 1
- 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1989
- Rent
- Rent Per SQFT
- $1,200
- $0.92
-
8806 Brass Bell Court Charlotte, NC 2
- 3 beds 3 baths ∙ 1,476 Sqft ∙ Built 3 beds 3 baths ∙ 1,476 Sqft ∙ Built
LEASED 04/13/20- Rent
- Rent Per SQFT
- $1,299
- $0.88
-
5713 Osprey Watch Court Charlotte, NC 3
- 3 beds 3 baths ∙ 1,392 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,392 Sqft ∙ Built 2003
LEASED 02/18/20- Rent
- Rent Per SQFT
- $1,325
- $0.95
-
8801 Milton Morris Drive Charlotte, NC 4
- 3 beds 3 baths ∙ 1,465 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,465 Sqft ∙ Built 1986
LEASED 01/30/21- Rent
- Rent Per SQFT
- $1,350
- $0.92
-
9244 Idlewild Road Charlotte, NC 5
- 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1948
LEASED 05/08/20- Rent
- Rent Per SQFT
- $1,375
- $0.95
PROPERTY LISTING DETAILS
1.704.906.2841
Northgroup Real Estate, Inc.
