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8623 Piccone Brook Lane Charlotte, NC 28216

4 Beds 3 Baths 2,960 sqft Built 1995

$350,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $118.24
  • -1 Days on Market
  • MLS # : CAR3761801
  • Updated Date : 07/13/2021 at 01:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,960 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allen Tate Huntersville

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Northlake

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $107k318k

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

Neighborhood: Northlake

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
Long Creek Elementary School Primary Regular 455 31 6
Francis Bradley Middle School Middle Regular 1,140 59 6
Hopewell High School High Regular 1,653 87 3

Long Creek Elementary School

  • Education Level: Primary
  • # of students: 455
  • # of teachers: 31
6
GreatSchools Rating

Francis Bradley Middle School

  • Education Level: Middle
  • # of students: 1,140
  • # of teachers: 59
6
GreatSchools Rating

Hopewell High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 87
3
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,216
Property Tax -$305
Property Insurance -$83
Property Management Fees -$119
CASH FLOW
$397

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.

$350,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 8.9%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

11.5

YEARS SAVED

$61,407

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,072

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,0003$2,0954$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 8623 Piccone Brook Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,960 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,960 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 9627 Bayview Parkway Charlotte, NC 2
    • 4 beds 3 baths ∙ 3,006 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,006 Sqft ∙ Built 2003
    property image
    LEASED 05/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.67
    •  
  • 9503 Bayview Parkway Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,978 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,978 Sqft ∙ Built 2005
    property image
    LEASED 05/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.70
    •  
  • 4912 Mcclure Road Charlotte, NC 4
    • 4 beds 4 baths ∙ 3,172 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,172 Sqft ∙ Built 2014
    property image
    LEASED 04/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.69
    •  
  • 9506 Bayview Parkway Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,993 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,993 Sqft ∙ Built 2003
    property image
    LEASED 07/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.74
    •  
PROPERTY LISTING DETAILS
Jason Abernethy
1.704.902.5804
Allen Tate Huntersville
BESbswy