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8716 Chalkstone Road Charlotte, NC 28216

3 Beds 3 Baths 2,007 sqft Built 2007

$269,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $134.03
  • 4 Days on Market
  • MLS # : 3683774
  • Updated Date : 12/05/2020 at 13:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,007 sqft
  • Baths : 3 full
Listing Agent

Z1 Realty

Listing Agent's Description

Great home in Mcintyre! 3BR's with 3 full baths plus large loft -could easily be converted to a 4th BR. 1 bedroom down for guest / in-law. Huge master suite with gorgeous laminate wood flooring and custom closets installed. Custom wood floor staircase. Large fenced yard with stone island and patio backing up to mature trees for privacy. Community pool and playground. Super convenient location close to 77, shopping galore, and 10 minutes to Uptown Charlotte. View 3D walk through tour here: https://my.matterport.com/show/?m=MXX1Z57uFXv&mls=1

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: 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
 

$242,100$295,900$269,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$992
Property Tax -$235
Property Insurance -$65
HOA -$53
Property Management Fees -$119
CASH FLOW
$26

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.

$269,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.55%

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

PROJECTED ANNUAL CASH FLOW

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

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$77,035

INVESTMENT

$77,035

Down Payment
$67,250
Rehab Estimate
$5,750
Closing Costs
$4,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,250
Loan Amount $201,750
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$22,154

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,500

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4503$1,4904$1,5505$1,595
$1,595
RENT COMPS ANALYSIS
  • 8716 Chalkstone Road Charlotte, NC 3
    • 3 beds 3 baths ∙ 2,007 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,007 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.74
    •  
  • 7315 Brewster Street Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,913 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,913 Sqft ∙ Built 2006
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.71
    •  
  • 8605 Redding Glen Avenue Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,970 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,970 Sqft ∙ Built 2007
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.74
    •  
  • 9217 Ames Hollow Road Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,128 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,128 Sqft ∙ Built 2005
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.73
    •  
  • 8213 Ainsworth Street Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,010 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,010 Sqft ∙ Built 2006
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.79
    •  
PROPERTY LISTING DETAILS
Mark Zoltanski
1.704.579.0000
Z1 Realty
BESbswy