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

8506 Delamere Lane Charlotte, NC 28269

4 Beds 3 Baths 2,982 sqft Built 2007

$365,500

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $122.57
  • 3 Days on Market
  • MLS # : 3703258
  • Updated Date : 01/30/2021 at 17:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,982 sqft
  • Baths : 3 full
Listing Agent

Wilson Realty

Listing Agent's Description

Let this gorgeous, open floor plan welcome you home! As you enter, you are are greeted with large formal dining and living rooms. There is a spacious guest bedroom and full bathroom. The sunken 2 story great room that transitions into the beautiful, updated kitchen is perfect for entertaining. Upstairs boasts a loft, two additional guest rooms and full bathroom. You will be wowed with the Owner's Retreat complete with sitting area, fabulous updated bathroom with separate tiled, walk-in shower. Outside you will find a huge, level back yard with endless possibilities. Enjoy the community amenities of Hampton Place with a pool, playground and tennis courts. This wonderful community is nestled conveniently to I-485, I-85 and I-77. Welcome Home!

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: Prosperity Church Road

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Prosperity Church Road

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
Croft Community School Primary Regular 644 35 NA
Ridge Road Middle School Middle Regular 1,285 65 6
Mallard Creek High School High Regular 2,472 123 6

Croft Community School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 35
NA
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
 

$328,950$402,050$365,500

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,270
Property Tax -$319
Property Insurance -$83
HOA -$40
Property Management Fees -$119
CASH FLOW
$170

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.

$365,500

PROJECTED PRICE

$2,000

PROJECTED RENT

0.55%

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$0.0$5.0k$10k$15k$20k

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$102,608

INVESTMENT

$102,608

Down Payment
$91,375
Rehab Estimate
$5,750
Closing Costs
$5,483

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,270

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,375
Loan Amount $274,125
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$37,648

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,849

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8003$1,8654$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 8506 Delamere Lane Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,982 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,982 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.67
    •  
  • 5120 Stone Park Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,804 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,804 Sqft ∙ Built 2006
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.60
    •  
  • 4728 Lone Tree Court Charlotte, NC 2
    • 5 beds 3 baths ∙ 3,036 Sqft ∙ Built 1998 5 beds 3 baths ∙ 3,036 Sqft ∙ Built 1998
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.59
    •  
  • 8524 Ridgeline Lane Charlotte, NC 3
    • 5 beds 3 baths ∙ 2,848 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,848 Sqft ∙ Built 2007
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,865
    • $0.65
    •  
  • 8517 Delamere Lane Charlotte, NC 4
    • 4 beds 3 baths ∙ 3,105 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,105 Sqft ∙ Built 2007
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.64
    •  
PROPERTY LISTING DETAILS
Brandi Sullivan
1.704.779.2135
Wilson Realty
BESbswy