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8421 Ramath Drive Charlotte, NC 28211

3 Beds 3 Baths 1,546 sqft Built 1979

$178,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $115.14
  • 5 Days on Market
  • MLS # : No MLS Number
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,546 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tobin

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: Stonehaven

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $116k361k

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

Neighborhood: Stonehaven

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
Rama Road Elementary School Primary Regular 591 41 4
Mcclintock Middle School Middle Regular 855 55 3
East Mecklenburg High School High Regular 1,840 111 6

Rama Road Elementary School

  • Education Level: Primary
  • # of students: 591
  • # of teachers: 41
4
GreatSchools Rating

Mcclintock Middle School

  • Education Level: Middle
  • # of students: 855
  • # of teachers: 55
3
GreatSchools Rating

East Mecklenburg High School

  • Education Level: High
  • # of students: 1,840
  • # of teachers: 111
6
GreatSchools Rating
 

$160,200$195,800$178,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$657
Property Tax -$155
Property Insurance -$56
HOA -$216
Property Management Fees -$135
CASH FLOW
$281

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.

$178,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.84%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.2%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,670

INVESTMENT

$58,670

Down Payment
$44,500
Rehab Estimate
$11,500
Closing Costs
$2,670

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$657

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,500
Loan Amount $133,500
See What Happens When You Reinvest Cash Flow

11.58

YEARS SAVED

$37,079

INTEREST SAVED

CASH FLOW REINVESTMENT

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

Solutions Manager

YOUR SOLUTIONS MANAGER

Please Contact Your Solutions Manager

To review the detailed price and rent comps for this property and answer any questions you may have.

PROPERTY LISTING DETAILS
Mynd
Tobin
BESbswy