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
8938 Raven Park Drive 
Charlotte, NC
28216
4 Beds 4 Baths 2,021 sqft
Built 1994
INVESTimate
$279,000
List Price
$79,685
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Built In 1994
- Price/Sqft : $138.05
- 12 Days on Market
- MLS # : 3652070
- Updated Date : 08/26/2020 at 00:05
CONSTRUCTION
- Beds : 4
- Floor Size : 2,021 sqft
- Baths : 3 full , 1 half
Listing Agent
Allen Tate Lake Norman
Listing Agent's Description
Tastefully remodeled home you don't want to miss. Kitchen updates include beautiful ivory cabinets with glazed finish, roll out storage, granite counters, tiled backsplash, and SS appliances (double oven), kitchen fridge remains. You will love the drop zone at the garage entry. Pet friendly and allergy-friendly home with wood flooring on the main and upper levels..no carpet! Bathroom updates include granite, tile and travertine. Details you will appreciate such as smooth finish ceilings, crown moldings throughout, and freshly painted interior. 4 spacious bedrooms and 3.5 baths is a rare feature. Owner's suite with a nicely updated bath and built-in organization added to the walk-in closet. Large 4th BR with ensuite bath could be a teen suite. The screened porch and covered deck are perfect for gathering with friends. Fenced yard plus a storage building for your yard tools. Popular pool community close to major roads and shopping, Whitewater Center and Latta Nature Preserve.
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: 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
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,660 |
| EXPENSES | Loan Payment | -$1,029 |
| Property Tax | -$253 | |
| Property Insurance | -$65 | |
| HOA | -$52 | |
| Property Management Fees | -$149 | |
|
CASH FLOW
$111
|
||
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.
$279,000
PROJECTED PRICE
$1,660
PROJECTED RENT
0.59%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 8.94% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$79,685
LOAN DETAILS
$1,029
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $69,750 |
| Loan Amount | $209,250 |
6.58
YEARS SAVED
$26,310
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,660
LIST RENT -
$0.82
LIST RENT PER SQFT
-
$1,602
COMP ESTIMATED VALUE -
$0.79
COMP AVG. RENT PER SQFT
Comps Range
-
8938 Raven Park Drive Charlotte, NC 4
- 4 beds 4 baths ∙ 2,021 Sqft ∙ Built 1994 4 beds 4 baths ∙ 2,021 Sqft ∙ Built 1994
- Rent
- Rent Per SQFT
- $1,660
- $0.82
-
9103 Kaladar Court Charlotte, NC 1
- 3 beds 3 baths ∙ 2,050 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,050 Sqft ∙ Built 1997
LEASED 11/15/19- Rent
- Rent Per SQFT
- $1,495
- $0.73
-
9217 Ames Hollow Road Charlotte, NC 2
- 3 beds 3 baths ∙ 2,128 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,128 Sqft ∙ Built 2005
LEASED 03/09/20- Rent
- Rent Per SQFT
- $1,550
- $0.73
-
8539 Piccone Brook Lane Charlotte, NC 3
- 4 beds 3 baths ∙ 1,955 Sqft ∙ Built 4 beds 3 baths ∙ 1,955 Sqft ∙ Built
LEASED 04/21/20- Rent
- Rent Per SQFT
- $1,625
- $0.83
-
9115 Whittel Place Charlotte, NC 5
- 4 beds 3 baths ∙ 1,924 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,924 Sqft ∙ Built 1995
LEASED 10/22/19- Rent
- Rent Per SQFT
- $1,680
- $0.87
PROPERTY LISTING DETAILS
1.704.236.5510
Allen Tate Lake Norman
