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8625 Balsam Bay Road Charlotte, NC 28227

4 Beds 3 Baths 3,150 sqft Built 2015

$299,950

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2015
  • Price/Sqft : $95.22
  • 21 Days on Market
  • MLS # : 3669106
  • Updated Date : 11/07/2020 at 17:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,150 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Select

Listing Agent's Description

From curb appeal to immaculate interior flow, and upgrades... Welcome to your gorgeous Home ! Located in the Desirable Community of Woodbury, this clean 2-story Home 's backyard backs up to the woods for privacy. Popular Open Floorplan. Large Kitchen, great Appliances and Lots of Cabinets. As you walk in, on your left, the Office/Study can also serve as Formal Dining or Living Room. Also, this home has a full bath downstairs , so if you add a wall and a door to the back room, it could become a 5th bedroom. The LOFT ! the loft is a great feature of this house ! cozy yet open to the main upstairs area, a lot of great movie time awaits you. The Woodbury Community features: an amazing giant pool ! A Clubhouse, A Basketball court and Social Events for all residents ! Settled in a quiet neighborhood minutes from I-485, this 4 bedroom (possible 5) , 3 bath home is a steal.

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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: Bradfield Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230kPrice in $113k235k

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

Neighborhood: Bradfield Farms

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
J.h. Gunn Elementary School Primary Regular 695 42 2
Albemarle Road Middle School Middle Regular 1,198 64 2
Rocky River High School High Regular 1,710 90 3

J.h. Gunn Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 42
2
GreatSchools Rating

Albemarle Road Middle School

  • Education Level: Middle
  • # of students: 1,198
  • # of teachers: 64
2
GreatSchools Rating

Rocky River High School

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

$269,955$329,945$299,950

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,107
Property Tax -$299
Property Insurance -$86
HOA -$38
Property Management Fees -$160
CASH FLOW
$90

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.

$299,950

PROJECTED PRICE

$1,780

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,237

INVESTMENT

$85,237

Down Payment
$74,988
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,988
Loan Amount $224,963
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$21,087

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.57

    LIST RENT PER SQFT
  • $1,788

    COMP ESTIMATED VALUE
  • $0.57

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6993$1,7454$1,7505$1,780
$1,780
RENT COMPS ANALYSIS
  • 8625 Balsam Bay Road Charlotte, NC 5
    • 4 beds 3 baths ∙ 3,150 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,150 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.57
    •  
  • 9143 Magnolia Lily Avenue Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,956 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,956 Sqft ∙ Built 2017
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.54
    •  
  • 12610 Sitka Court Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,838 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,838 Sqft ∙ Built 2008
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.60
    •  
  • 8909 Gray Willow Road Charlotte, NC 3
    • 4 beds 3 baths ∙ 3,134 Sqft ∙ Built 2011 4 beds 3 baths ∙ 3,134 Sqft ∙ Built 2011
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.56
    •  
  • 9629 Rothman Lane Charlotte, NC 4
    • 5 beds 3 baths ∙ 2,962 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,962 Sqft ∙ Built 2007
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.59
    •  
PROPERTY LISTING DETAILS
Ramzi Hawa
1.704.780.3905
Keller Williams Select
BESbswy