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

8414 Market House Lane Charlotte, NC 28227

4 Beds 3 Baths 1,908 sqft Built 1975

$283,990

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $148.84
  • 2 Days on Market
  • MLS # : 3682007
  • Updated Date : 11/14/2020 at 15:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,908 sqft
  • Baths : 3 full
Listing Agent

Dockery & Associates Realty Group Llc

Listing Agent's Description

DONT MISSED THIS ONE!! TOTALLY RENOVATED 4 BED, 3 FULL BATH SPLIT LEVEL HOME!! THIS HOME HAS IT ALL!! SEPRATE AREAS FOR ENTERTAINING, SPACIOUS ROOMS, BEAUTIFUL KITCHEN,LEVEL HOME SITE, HUGE BACK YARD, LARGE DECK... HOME SHOWS LIKE A MODEL!!DONT WAIT!! PRICED TO SALE FAST!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Becton Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Becton Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771518

* 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
Albemarle Road Elementary School Primary Regular 1,338 79 5
Albemarle Road Middle School Middle Regular 1,198 64 2
Independence High School High Regular 2,349 128 6

Albemarle Road Elementary School

  • Education Level: Primary
  • # of students: 1,338
  • # of teachers: 79
5
GreatSchools Rating

Albemarle Road Middle School

  • Education Level: Middle
  • # of students: 1,198
  • # of teachers: 64
2
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 2,349
  • # of teachers: 128
6
GreatSchools Rating
 

$255,591$312,389$283,990

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,048
Property Tax -$248
Property Insurance -$63
Property Management Fees -$149
CASH FLOW
$143

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.

$283,990

PROJECTED PRICE

$1,650

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
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

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$81,007

INVESTMENT

$81,007

Down Payment
$70,998
Rehab Estimate
$5,750
Closing Costs
$4,260

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,048

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,998
Loan Amount $212,993
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$28,440

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,574

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4253$1,4954$1,5505$1,650
$1,650
RENT COMPS ANALYSIS
  • 8414 Market House Lane Charlotte, NC 5
    • 4 beds 3 baths ∙ 1,908 Sqft ∙ Built 1975 4 beds 3 baths ∙ 1,908 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
  • 6315 Holly Knoll Drive Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,598 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,598 Sqft ∙ Built 1978
    LEASED 06/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.84
    •  
  • 8401 Dunsinane Drive Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1973
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.84
    •  
  • 5335 Ayers Orchard Way Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,859 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,859 Sqft ∙ Built 2005
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.80
    •  
  • 1229 Marlwood Circle Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 3 beds 2 baths ∙ 1,900 Sqft ∙ Built
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
PROPERTY LISTING DETAILS
Andre Dockery
1.704.909.2850
Dockery & Associates Realty Group Llc
BESbswy