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8546 Greenware Trail Charlotte, NC 28269

3 Beds 3 Baths 2,404 sqft Built 2003

$245,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $101.91
  • 6 Days on Market
  • MLS # : 3683376
  • Updated Date : 11/21/2020 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,404 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allen Tate Lake Norman

Listing Agent's Description

Incredible three bedroom home with great, open floorplan! Spacious great room with gas log fireplace. Vinyl plank flooring throughout main floor. Cook's island kitchen open to dining room. Main floor laundry room with built-in pantry and drying rack. Huge bonus room with convenient office area. Private owner's suite and bath with garden tub, separate shower and large walk-in closet with custom organizer. spacious secondary bedrooms with large closets. Great location - convenient to interstates, restaurants and all shopping.

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: West Sugar Creek

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $106k235k

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

Neighborhood: West Sugar Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8421518

* 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
David Cox Road Elementary School Primary Regular 784 46 4
Ridge Road Middle School Middle Regular 1,285 65 6
Mallard Creek High School High Regular 2,472 123 6

David Cox Road Elementary School

  • Education Level: Primary
  • # of students: 784
  • # of teachers: 46
4
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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$904
Property Tax -$214
Property Insurance -$72
HOA -$18
Property Management Fees -$133
CASH FLOW
$139

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.

$245,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.4%
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

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$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$24,609

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.62

    LIST RENT PER SQFT
  • $1,605

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,5003$1,5944$1,6005$1,665
$1,665
RENT COMPS ANALYSIS
  • 8546 Greenware Trail Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,404 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,404 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.62
    •  
  • 8432 Panglemont Drive Charlotte, NC 2
    • 4 beds 2 baths ∙ 2,272 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,272 Sqft ∙ Built 2007
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.66
    •  
  • 5529 Crisfield Road Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 1996
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,594
    • $0.65
    •  
  • 8428 Panglemont Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,388 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,388 Sqft ∙ Built 2007
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.67
    •  
  • 8735 Earthenware Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2006
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,665
    • $0.69
    •  
PROPERTY LISTING DETAILS
Cathleen Staskel
1.704.507.7777
Allen Tate Lake Norman
BESbswy