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PROPERTY INFO
FACTS
- Single Family
- Built In 1994
- Price/Sqft : $135.46
- 7 Days on Market
- MLS # : 3708543
- Updated Date : 02/20/2021 at 12:02
CONSTRUCTION
- Beds : 3
- Floor Size : 2,214 sqft
- Baths : 2 full , 1 half
Listing Agent
Douglas Carson, Realtors
Listing Agent's Description
Welcome home to this meticulously maintained 3 BR, 2.5 BA home in the highly sought after Wedgewood North Community. The main level boasts a large living room with vaulted ceiling, large dining room, and a front sitting room that has endless potential. The beautifully remodeled kitchen has freshly updated cabinetry, new tile flooring, and updated appliances. The spa-like master bathroom has been updated with a full tile shower, tile floors and new vanities. The updates on this house are truly too many to list - new windows (2016), new front door and transom (2019), new hot water heater (2019), replaced HVAC (2016) and so much more. Ask your agent for a full list of upgrades and updates to this turnkey home. WWN neighborhood has a fantastic HOA with numerous amenities including pool, clubhouse, tennis courts, playground, volleyball court, and disc golf course! Just minutes to I-485 and I-77, you are just a short drive to anywhere in Charlotte.
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: Northlake
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Northlake
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,620 |
| EXPENSES | Loan Payment | -$1,042 |
| Property Tax | -$261 | |
| Property Insurance | -$69 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$129
|
||
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.
$299,900
PROJECTED PRICE
$1,620
PROJECTED RENT
0.54%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$85,224
LOAN DETAILS
$1,042
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $74,975 |
| Loan Amount | $224,925 |
7.75
YEARS SAVED
$30,347
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,620
LIST RENT -
$0.73
LIST RENT PER SQFT
-
$1,644
COMP ESTIMATED VALUE -
$0.74
COMP AVG. RENT PER SQFT
Comps Range
-
8913 Mccartney Way Charlotte, NC 3
- 3 beds 3 baths ∙ 2,214 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,214 Sqft ∙ Built 1994
- Rent
- Rent Per SQFT
- $1,620
- $0.73
-
5321 Valcourt Road Charlotte, NC 1
- 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2005
LEASED 03/31/20- Rent
- Rent Per SQFT
- $1,575
- $0.71
-
7917 Bushy Creek Drive Charlotte, NC 2
- 4 beds 3 baths ∙ 2,216 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,216 Sqft ∙ Built 2006
LEASED 05/18/20- Rent
- Rent Per SQFT
- $1,595
- $0.72
-
3722 Pimilico Trace Lane Charlotte, NC 4
- 3 beds 3 baths ∙ 2,216 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,216 Sqft ∙ Built 2006
LEASED 03/25/20- Rent
- Rent Per SQFT
- $1,695
- $0.76
-
9129 Beatties Ford Road Huntersville, NC 5
- 3 beds 2 baths ∙ 2,187 Sqft ∙ Built 1952 3 beds 2 baths ∙ 2,187 Sqft ∙ Built 1952
LEASED 08/24/20- Rent
- Rent Per SQFT
- $1,695
- $0.78
PROPERTY LISTING DETAILS
1.920.527.0322
Douglas Carson, Realtors
MLS #: 3708543
Last Updated: 02/20/2021
