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8704 Rozumny Drive Charlotte, NC 28216

3 Beds 2 Baths 1,295 sqft Built 2001

$249,999

List Price

$1,210

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $193.05
  • 3 Days on Market
  • MLS # : 3719609
  • Updated Date : 03/20/2021 at 12:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,295 sqft
  • Baths : 2 full
Listing Agent

Prime Real Estate Advisors Llc

Listing Agent's Description

Beautiful single family home located on a quiet street in the Rozummy Ridge Community! WHOLE HOUSE HAS HARD WOOD FLOORS, The master bedroom has a large walk-in closet. NEW GARAGE DOOR, NEW PAINT, NEW REFRIGIRATOR.

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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: Oakdale North

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $97k235k

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

Neighborhood: Oakdale North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350140014501500Rent in $7901518

* 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
Mountain Island Lake Academy Primary Regular 727 47 3
West Mecklenburg High School High Regular 2,040 108 1
Mountain Island Lake Academy Primary Unknown NA

Mountain Island Lake Academy

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 47
3
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating

Mountain Island Lake Academy

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$224,999$274,999$249,999

PURCHASE PRICE

$1,089$1,331$1,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,210
EXPENSES Loan Payment -$868
Property Tax -$218
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$47

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.

$249,999

PROJECTED PRICE

$1,210

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 9.0%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,499
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$9,917

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,210

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,217

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,210
1$1,2102$1,3503$1,3954$1,4255$1,450
$1,450
RENT COMPS ANALYSIS
  • 8704 Rozumny Drive Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,295 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,295 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $0.93
    •  
  • 2820 Bellhaven Circle Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1952
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.91
    •  
  • 3032 Christian Scott Lane Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 2001
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.94
    •  
  • 630 Stillgreen Lane Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 2015
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.93
    •  
  • 115 Mellwood Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 1,518 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,518 Sqft ∙ Built 2003
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.96
    •  
PROPERTY LISTING DETAILS
Gopal Kasarla
1.980.800.9999
Prime Real Estate Advisors Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3719609
Last Updated: 03/20/2021
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