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8415 Getalong Road Charlotte, NC 28213

4 Beds 4 Baths 3,645 sqft Built 1989

$495,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $135.80
  • 19 Days on Market
  • MLS # : 3716742
  • Updated Date : 03/27/2021 at 16:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,645 sqft
  • Baths : 2 full , 2 half
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

This stately custom built home features a huge PRIVATE .81acre lot with a gated privacy fence and backs up to gorgeous woods. NO HOA! Hardwood floors on main with wide hardwood staircase in 2 story elegant foyer. Gourmet kitchen boasts granite countertops, SS appliances, and decorative stained glass in window over the sink. Lovely great room with gas log fireplace. French doors lead to a study/living room space. Crown molding and decorative molding throughout. Spacious dining room with picture frame molding. Master suite on the main level with tray ceiling, 2 walk in closets and deluxe master bath with tile. 3 bedrooms upstairs with a large bonus room, wet bar, and a dual staircase! Ample storage with 2 walk in attics! Enjoy coffee on the peaceful screened porch overlooking the park like landscaped backyard. Stone paved patio and cabana with gas grill. In ground irrigation and gutter guards are just some of the upgraded features you will find! Showings begin Thursday 3/25/21.

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: Newell

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $108k235k

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

Neighborhood: Newell

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8261518

* 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
Joseph W. Grier Academy Primary Regular 789 50 3
Northridge Middle School Middle Regular 779 43 3
Rocky River High School High Regular 1,710 90 3

Joseph W. Grier Academy

  • Education Level: Primary
  • # of students: 789
  • # of teachers: 50
3
GreatSchools Rating

Northridge Middle School

  • Education Level: Middle
  • # of students: 779
  • # of teachers: 43
3
GreatSchools Rating

Rocky River High School

  • Education Level: High
  • # of students: 1,710
  • # of teachers: 90
3
GreatSchools Rating
 

$445,500$544,500$495,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,719
Property Tax -$432
Property Insurance -$96
Property Management Fees -$119
CASH FLOW
-$186

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.

$495,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,719

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$12,854

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.6

    LIST RENT PER SQFT
  • $2,211

    COMP ESTIMATED VALUE
  • $0.61

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$1,9953$2,1804$2,395
$2,395
RENT COMPS ANALYSIS
  • 8415 Getalong Road Charlotte, NC 3
    • 4 beds 4 baths ∙ 3,645 Sqft ∙ Built 1989 4 beds 4 baths ∙ 3,645 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.60
    •  
  • 1707 Loropetalum Road Charlotte, NC 1
    • 4 beds 3 baths ∙ 3,316 Sqft ∙ Built 2017 4 beds 3 baths ∙ 3,316 Sqft ∙ Built 2017
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.60
    •  
  • 3014 Oconee Lane Charlotte, NC 2
    • 5 beds 3 baths ∙ 3,310 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,310 Sqft ∙ Built 2002
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.60
    •  
  • 13139 Purple Dawn Drive Charlotte, NC 4
    • 5 beds 4 baths ∙ 3,882 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,882 Sqft ∙ Built 2005
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.62
    •  
PROPERTY LISTING DETAILS
Connie Yates
1.704.877.9668
Keller Williams Ballantyne Area
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3716742
Last Updated: 03/27/2021
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