Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

8931 Oransay Way Charlotte, NC 28278

3 Beds 2 Baths 1,725 sqft Built 2006

$294,900

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $170.96
  • 13 Days on Market
  • MLS # : 3711304
  • Updated Date : 03/06/2021 at 21:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,725 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty

Listing Agent's Description

Rare Ranch Style Home in Berewick! Rocking chair front porch welcomes friends & family alike! Enjoy the convenience of everything being on one level. Spacious owner's bedroom with walk in closet and a owner's bathroom with standup shower and soaking tub. Fully fenced backyard with an extended patio area that is perfect for entertaining. The amenities in this neighborhood include pools, splash pad for younger kids, volleyball courts, walking trail, club house with gym and playground. This home is near the Premier Outlets, grocery stores, restaurants and I-485. Make your appointment today it won't last long!!

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: 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
 

$265,410$324,390$294,900

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,024
Property Tax -$257
Property Insurance -$60
HOA -$67
Property Management Fees -$119
CASH FLOW
$93

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.

$294,900

PROJECTED PRICE

$1,620

PROJECTED RENT

0.55%

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$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,899

INVESTMENT

$83,899

Down Payment
$73,725
Rehab Estimate
$5,750
Closing Costs
$4,424

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,024

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,725
Loan Amount $221,175
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$25,820

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
  • $0.94

    LIST RENT PER SQFT
  • $1,647

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,6204$1,6955$1,725
$1,725
RENT COMPS ANALYSIS
  • 8931 Oransay Way Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.94
    •  
  • 11402 Chapeclane Road Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 2004
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.96
    •  
  • 4800 Spruce Peak Road Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2005
    property image
    LEASED 02/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
  • 7236 Rock Island Road Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 1998
    property image
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.92
    •  
  • 6531 Centerline Drive Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,649 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,649 Sqft ∙ Built 2004
    property image
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.05
    •  
PROPERTY LISTING DETAILS
Sir Harrison
1.704.775.1236
Fathom Realty
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3711304
Last Updated: 03/06/2021
BESbswy