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8702 Donnellson Common Court Charlotte, NC 28216

3 Beds 3 Baths 2,990 sqft Built 2006

$304,900

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $101.97
  • 4 Days on Market
  • MLS # : 3711749
  • Updated Date : 02/27/2021 at 09:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,990 sqft
  • Baths : 2 full , 1 half
Listing Agent

Wilkinson Era Real Estate

Listing Agent's Description

Amazing Cul-de-Sac home in the Mcintyre community features an inviting front porch, formal dining, breakfast area, gas log fireplace, open floor plan. The whole home was recently painted & brand new floors installed Upstairs on the family/bonus room, New vanities & floor in all bathrooms, NEW stainless steel kitchen appliances (stove & microwave). Master suite offers walk-in closet and master bath complete with garden tub and oversize shower, 2 additional bedrooms upstairs all new carpet in bedrooms. Oversize fenced yard provides ample space for the kids to play and parents to relax. Less than 1 mile from Northlake Mall easy access to both I-485 and I-77. Move in ready !

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
Hornets Nest Elementary School Primary Regular 587 34 3
Ranson Middle School Middle Regular 1,138 57 3
Hopewell High School High Regular 1,653 87 3

Hornets Nest Elementary School

  • Education Level: Primary
  • # of students: 587
  • # of teachers: 34
3
GreatSchools Rating

Ranson Middle School

  • Education Level: Middle
  • # of students: 1,138
  • # of teachers: 57
3
GreatSchools Rating

Hopewell High School

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

$274,410$335,390$304,900

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,059
Property Tax -$266
Property Insurance -$83
HOA -$53
Property Management Fees -$119
CASH FLOW
$260

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.

$304,900

PROJECTED PRICE

$1,840

PROJECTED RENT

0.60%

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

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$86,549

INVESTMENT

$86,549

Down Payment
$76,225
Rehab Estimate
$5,750
Closing Costs
$4,574

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,225
Loan Amount $228,675
See What Happens When You Reinvest Cash Flow

9.75

YEARS SAVED

$43,163

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.62

    LIST RENT PER SQFT
  • $1,884

    COMP ESTIMATED VALUE
  • $0.63

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,8404$2,099
$2,099
RENT COMPS ANALYSIS
  • 8702 Donnellson Common Court Charlotte, NC 3
    • 3 beds 3 baths ∙ 2,990 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,990 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.62
    •  
  • 1933 Hamilton Forest Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 3,236 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,236 Sqft ∙ Built 2006
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.52
    •  
  • 9415 Bayview Parkway Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,736 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,736 Sqft ∙ Built 2003
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.62
    •  
  • 3040 Ed Reid Street Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,787 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,787 Sqft ∙ Built 2003
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,099
    • $0.75
    •  
PROPERTY LISTING DETAILS
Maria Martinez
1.704.771.4087
Wilkinson Era Real Estate
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3711749
Last Updated: 02/27/2021
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