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8712 Great Bear Court Charlotte, NC 28269

4 Beds 3 Baths 1,918 sqft Built 1999

$295,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $153.81
  • 2 Days on Market
  • MLS # : 3699412
  • Updated Date : 01/16/2021 at 21:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,918 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Welcome home to award winning Highland Creek! Home features dining room/flex space with crown molding, eat-in kitchen with plenty of cabinets, granite counter tops and tile backsplash. Kitchen opens to great room with gas fireplace. The second level features owners suite with vaulted ceilings, large closet and private bath with dual vanities, garden tub and separate shower. 2 additional bedrooms and bonus/4th bedroom share secondary full bath. Awesome for outdoor entertaining! Fenced, level lot on corner lot in cul-de-sac with oversized patio, fire pit and pergola. Hurry, this one won't last long!

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: Cambridge Run

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Cambridge Run

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
Highland Creek Elementary School Primary Regular 1,105 57 7
Ridge Road Middle School Middle Regular 1,285 65 6
Mallard Creek High School High Regular 2,472 123 6

Highland Creek Elementary School

  • Education Level: Primary
  • # of students: 1,105
  • # of teachers: 57
7
GreatSchools Rating

Ridge Road Middle School

  • Education Level: Middle
  • # of students: 1,285
  • # of teachers: 65
6
GreatSchools Rating

Mallard Creek High School

  • Education Level: High
  • # of students: 2,472
  • # of teachers: 123
6
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,025
Property Tax -$257
Property Insurance -$63
HOA -$54
Property Management Fees -$119
CASH FLOW
$112

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.

$295,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.6%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$27,732

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,587

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6303$1,6454$1,6505$1,785
$1,785
RENT COMPS ANALYSIS
  • 8712 Great Bear Court Charlotte, NC 2
    • 4 beds 3 baths ∙ 1,918 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,918 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.85
    •  
  • 4958 Bentgrass Run Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 1,906 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,906 Sqft ∙ Built 1999
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.84
    •  
  • 9115 Gaskill Court Charlotte, NC 3
    • 3 beds 3 baths ∙ 2,045 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,045 Sqft ∙ Built 1998
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.80
    •  
  • 5922 Hidden Meadow Lane Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 2000
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.79
    •  
  • 5754 Cambridge Bay Drive Charlotte, NC 5
    • 3 beds 3 baths ∙ 2,024 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,024 Sqft ∙ Built 1999
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $0.88
    •  
PROPERTY LISTING DETAILS
Heidi Hines
1.704.458.4636
Exp Realty Llc
BESbswy