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9003 Newfield Street #53 Charlotte, NC 28216

3 Beds 3 Baths 1,574 sqft Built 2005

$250,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $158.83
  • -2 Days on Market
  • MLS # : CAR3761253
  • Updated Date : 07/13/2021 at 00:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,574 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

This is it - make no mistake where you are.... (more pics 7.13.21) You've found THE ONE: all new flooring, white kitchen cabinets, granite kitchen countertops, stainless kitchen appliances, and paint OH MY! Add the charming covered front porch and sunny back patio and you have your new home! Along with so many cool updates, the location of this home is fabulous! Just a minute to Northlake Mall with all it's shopping and dining, plus Lowe's and PetsSmart and I-77. You have everything SO close!! The Mcyntyre community offers a pool, park and walking area for you, too. Qualified buyers can take advantage of the ZeroPlus loan from Keller Mortgage - save thousands with no lender fees plus $1000 toward your other closing costs, all at competitive interest rates! Call for your private tour TODAY - before this one gets away!

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: Northlake

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $107k318k

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

Neighborhood: Northlake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Hornets Nest Elementary School Primary Regular 587 34 3
Ranson Middle School Middle Regular 1,138 57 3
Hopewell High School High Regular 1,653 87 3

Hornets Nest Elementary School

  • Education Level: Primary
  • # of students: 587
  • # of teachers: 34
3
GreatSchools Rating

Ranson Middle School

  • Education Level: Middle
  • # of students: 1,138
  • # of teachers: 57
3
GreatSchools Rating

Hopewell High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 87
3
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$868
Property Tax -$218
Property Insurance -$57
HOA -$53
Property Management Fees -$119
CASH FLOW
$115

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.

$250,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
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

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

7.83

YEARS SAVED

$25,292

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,468

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3503$1,4504$1,4755$1,545
$1,545
RENT COMPS ANALYSIS
  • 9003 Newfield Street #53 Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,574 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,574 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6618 Rose Point Lane Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 1998
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.92
    •  
  • 7625 Jenny Ann Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2010
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
  • 8425 Ainsworth Street Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,552 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,552 Sqft ∙ Built 2004
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.95
    •  
  • 8420 Ainsworth Street Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,529 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,529 Sqft ∙ Built 2004
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $1.01
    •  
PROPERTY LISTING DETAILS
Jenny Linich
1.803.372.8033
Keller Williams Ballantyne Area
BESbswy