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PROPERTY INFO
FACTS
- Single Family
- Built In 1997
- Price/Sqft : $129.49
- 2 Days on Market
- MLS # : 3710728
- Updated Date : 02/20/2021 at 20:54
CONSTRUCTION
- Beds : 3
- Floor Size : 1,892 sqft
- Baths : 2 full , 1 half
Listing Agent
Carolina Residential Group Llc
Listing Agent's Description
Highly desired home in Cambridge Community! This hard to find home with cul-de-sac lot comes with inviting front porch and beautiful mature trees! Welcome home to the two story foyer, formal dining or living room. Open kitchen with breakfast bar and breakfast area, providing plenty of room for entertaining. Soaring ceilings in the two-story great room with cozy fireplace. Freshly painted interior throughout. No carpeting throughout the home! Upstairs features spacious bedrooms. Master suite with dual vanity, garden tub, separate shower! Lots of storage space throughout the home. The fenced in backyard features a tiered back deck for entertaining and enjoying the beautiful Carolina Weather. Conveniently located close to I-485 and shopping/restaurants! Coventry subdivision offers walking trails, a club house, playground and outdoor pool with slide! A home like this is hard to come by in Charlotte. Hurry, this one won't last long!
SEE MORE
- 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: Silverwood
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Silverwood
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,600 |
| EXPENSES | Loan Payment | -$851 |
| Property Tax | -$214 | |
| Property Insurance | -$63 | |
| HOA | -$28 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$326
|
||
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.
$245,000
PROJECTED PRICE
$1,600
PROJECTED RENT
0.65%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 8.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$70,675
LOAN DETAILS
$851
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $61,250 |
| Loan Amount | $183,750 |
11.58
YEARS SAVED
$44,122
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,600
LIST RENT -
$0.85
LIST RENT PER SQFT
-
$1,603
COMP ESTIMATED VALUE -
$0.85
COMP AVG. RENT PER SQFT
Comps Range
-
8715 Bodkin Court Charlotte, NC 5
- 3 beds 3 baths ∙ 1,892 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,892 Sqft ∙ Built 1997
- Rent
- Rent Per SQFT
- $1,600
- $0.85
-
8217 Upsall Court Charlotte, NC 1
- 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 1997
LEASED 04/30/20- Rent
- Rent Per SQFT
- $1,452
- $0.78
-
8619 Warwick Crest Lane Charlotte, NC 2
- 3 beds 3 baths ∙ 1,720 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,720 Sqft ∙ Built 1998
LEASED 05/31/20- Rent
- Rent Per SQFT
- $1,500
- $0.87
-
7604 Nicolette Court Charlotte, NC 3
- 4 beds 3 baths ∙ 1,892 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,892 Sqft ∙ Built 1998
LEASED 03/26/20- Rent
- Rent Per SQFT
- $1,595
- $0.84
-
10100 Brawley Lane Charlotte, NC 4
- 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1993
LEASED 01/23/21- Rent
- Rent Per SQFT
- $1,595
- $0.90
PROPERTY LISTING DETAILS
1.980.365.3575
Carolina Residential Group Llc
MLS #: 3710728
Last Updated: 02/20/2021
