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8812 Brideswell Lane Charlotte, NC 28278

4 Beds 2 Baths 1,993 sqft Built 2009

$325,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $163.07
  • 3 Days on Market
  • MLS # : 3712053
  • Updated Date : 02/26/2021 at 16:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,993 sqft
  • Baths : 2 full
Listing Agent

Lake & Town Realty

Listing Agent's Description

IMMACULATE one and a half story home in hot Berewick with tons of upgrades. Downstairs features open floor plan, large master suite with walk in closet, and huge garden tub, two generously sized secondary bedrooms with plenty of space. Granite countertops, stainless steel appliances, pantry, and flat top stove in kitchen. The well equipped laundry room can be found off the kitchen, and leads into the oversized two car attached garage. Beautiful hardwood floors throughout, carpet in bedrooms. Upstairs features a beautiful oversized fourth bedroom/bonus/mancave with plenty of natural light from the two large picturesque windows and large walk-in closet. Enjoy your summer evenings relaxing in the fully screened in porch, or grilling on the beautiful patio. Walk to restaurants, shopping and grocery store, unbeatable location and price.

SEE MORE

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: Berewick

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Berewick

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8441914

* 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
Berewick Elementary School Primary Regular 601 38 6
Kennedy Middle School Middle Regular 722 43 4
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

Berewick Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 38
6
GreatSchools Rating

Kennedy Middle School

  • Education Level: Middle
  • # of students: 722
  • # of teachers: 43
4
GreatSchools Rating

Math, Engineering, Technology And Science At Olympic High School

  • Education Level: High
  • # of students: 607
  • # of teachers: 28
7
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,129
Property Tax -$283
Property Insurance -$65
HOA -$73
Property Management Fees -$119
CASH FLOW
$91

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.

$325,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.0%
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$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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$27,295

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,754

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,745
1$1,7452$1,7603$1,7954$1,9355$2,050
$2,050
RENT COMPS ANALYSIS
  • 8812 Brideswell Lane Charlotte, NC 2
    • 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 2009 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.88
    •  
  • 5826 Langwell Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 2009
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.83
    •  
  • 10433 Cullen Court Charlotte, NC 3
    • 3 beds 3 baths ∙ 2,057 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,057 Sqft ∙ Built 2008
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.87
    •  
  • 7409 Hamilton Bridge Road Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,173 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,173 Sqft ∙ Built 2015
    LEASED 09/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,935
    • $0.89
    •  
  • 9813 Glenburn Lane Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 2005
    LEASED 01/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.93
    •  
PROPERTY LISTING DETAILS
Jackie Headley
1.704.491.4396
Lake & Town Realty
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3712053
Last Updated: 02/26/2021
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