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8741 Rozumny Drive Charlotte, NC 28216

4 Beds 2 Baths 1,250 sqft Built 2001

$217,900

List Price

$1,170

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $174.32
  • 6 Days on Market
  • MLS # : 3677673
  • Updated Date : 10/29/2020 at 17:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,250 sqft
  • Baths : 2 full
Listing Agent

Allen Tate Wesley Chapel

Listing Agent's Description

No HOA! Great spacious home, nestled at the end of the the street. No wasted space inside. Master BR on main with walk in closet, lovely laminate flooring downstairs installed in 2019, beautiful modern kitchen, pantry, granite counter tops in kitchen and bathrooms, new carpet upstairs installed this month, gas water heater and stainless steel dishwasher in 2018, 1 car garage. This home is a real jewel...

SEE MORE

MARKET HIGHLIGHTS

  • 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: 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

  • 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
 

$196,110$239,690$217,900

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$804
Property Tax -$190
Property Insurance -$51
Property Management Fees -$105
CASH FLOW
$20

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.

$217,900

PROJECTED PRICE

$1,170

PROJECTED RENT

0.54%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,494

INVESTMENT

$63,494

Down Payment
$54,475
Rehab Estimate
$5,750
Closing Costs
$3,269

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$804

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,475
Loan Amount $163,425
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$12,067

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,170

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,178

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,170
1$1,1702$1,2953$1,2994$1,3955$1,450
$1,450
RENT COMPS ANALYSIS
  • 8741 Rozumny Drive Charlotte, NC 1
    • 4 beds 2 baths ∙ 1,250 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,250 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $0.94
    •  
  • 3504 Anastasia Court Charlotte, NC 2
    • 4 beds 3 baths ∙ 1,488 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,488 Sqft ∙ Built 2001
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.87
    •  
  • 8734 Rozumny Drive Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,301 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,301 Sqft ∙ Built 2001
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $1.00
    •  
  • 3032 Christian Scott Lane Charlotte, NC 4
    • 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
    •  
  • 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
Bobbie Weber
1.704.534.0721
Allen Tate Wesley Chapel
BESbswy