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

87 Muse Court Nw Concord, NC 28025

3 Beds 2 Baths 1,220 sqft Built 1968

$189,900

List Price

$1,090

$981 - $1.2K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $155.66
  • 6 Days on Market
  • MLS # : 3681220
  • Updated Date : 11/10/2020 at 17:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,220 sqft
  • Baths : 2 full
Listing Agent

Southern Homes Of The Carolinas

Listing Agent's Description

Adorable house within city limits and close to everything you may need! Just take a short walk to downtown Concord with restaurants, shopping centers and much more. Plenty of desirable features in this home including brand new laminate floors in master bedroom and family room. A Master bedroom on the main, Granite counters, claw foot tub, new roof, new HVAC, new plumbing & new gutters. Interior just professionally painted. Central heat & AC throughout. Generous sized Backyard with a detached garage. Home sweet 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: Wil-Mar Park - Locke Mill

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k216k

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

Neighborhood: Wil-Mar Park - Locke Mill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300Rent in $6141375

* 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
Coltrane-webb Elementary School Primary Magnet 484 32 5
Concord Middle School Middle Regular 922 62 2
Concord High School High Regular 1,252 79 3

Coltrane-webb Elementary School

  • Education Level: Primary
  • # of students: 484
  • # of teachers: 32
5
GreatSchools Rating

Concord Middle School

  • Education Level: Middle
  • # of students: 922
  • # of teachers: 62
2
GreatSchools Rating

Concord High School

  • Education Level: High
  • # of students: 1,252
  • # of teachers: 79
3
GreatSchools Rating
 

$170,910$208,890$189,900

PURCHASE PRICE

$981$1,199$1,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,090
EXPENSES Loan Payment -$701
Property Tax -$201
Property Insurance -$50
Property Management Fees -$98
CASH FLOW
$40

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.

$189,900

PROJECTED PRICE

$1,090

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,074

INVESTMENT

$56,074

Down Payment
$47,475
Rehab Estimate
$5,750
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$701

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$12,124

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,090

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,074

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$999
1$9992$1,0453$1,0904$1,1505$1,250
$1,250
RENT COMPS ANALYSIS
  • 87 Muse Court Nw Concord, NC 3
    • 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1968
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,090
    • $0.89
    •  
  • 260 Odell Drive Nw Kannapolis, NC 1
    • 3 beds 1 baths ∙ 1,110 Sqft ∙ Built 1900 3 beds 1 baths ∙ 1,110 Sqft ∙ Built 1900
    property image
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $999
    • $0.90
    •  
  • 150 Franklin Avenue Nw Concord, NC 2
    • 3 beds 1 baths ∙ 1,216 Sqft ∙ Built 1940 3 beds 1 baths ∙ 1,216 Sqft ∙ Built 1940
    property image
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,045
    • $0.86
    •  
  • 262 Buffalo Avenue Concord, NC 4
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1900 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1900
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.88
    •  
  • 386 Aycock Street Concord, NC 5
    • 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1948 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1948
    property image
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.88
    •  
PROPERTY LISTING DETAILS
Guillermo Torres
1.704.840.5850
Southern Homes Of The Carolinas
BESbswy