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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Berewick
* 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 | -$1,024 |
| 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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$83,899
LOAN DETAILS
$1,024
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $73,725 |
| Loan Amount | $221,175 |
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
-
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
1.704.775.1236
Fathom Realty
MLS #: 3711304
Last Updated: 03/06/2021
