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

9008 Gladden Court Charlotte, NC 28227

3 Beds 2 Baths 1,206 sqft Built 1990

$225,000

List Price

$1,200

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $186.57
  • 4 Days on Market
  • MLS # : 3694329
  • Updated Date : 12/31/2020 at 21:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,206 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

Currently under remodel! 3 bedroom/2 bath house. Inside pictures will be updated as soon as the remodel is complete! *Heated SQ FT currently is from the tax records and will be updated when we receive an updated floor plan/house measurement.

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: Becton Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Becton Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771518

* 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
J.h. Gunn Elementary School Primary Regular 695 42 2
Albemarle Road Middle School Middle Regular 1,198 64 2
Independence High School High Regular 2,349 128 6

J.h. Gunn Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 42
2
GreatSchools Rating

Albemarle Road Middle School

  • Education Level: Middle
  • # of students: 1,198
  • # of teachers: 64
2
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 2,349
  • # of teachers: 128
6
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,080$1,320$1,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,200
EXPENSES Loan Payment -$830
Property Tax -$196
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
$5

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.

$225,000

PROJECTED PRICE

$1,200

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$15,696

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,200

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,025

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,2003$1,2004$1,2495$1,375
$1,375
RENT COMPS ANALYSIS
  • 9008 Gladden Court Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.00
    •  
  • 9614 Fir Knoll Road Mint Hill, NC 1
    • 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1977
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.83
    •  
  • 8729 Pence Road Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,407 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,407 Sqft ∙ Built 2019
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.85
    •  
  • 6313 Harrisburg Road Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1979
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $0.82
    •  
  • 6728 Raeburn Lane Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1986
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.90
    •  
PROPERTY LISTING DETAILS
Thomas Elrod
1.704.228.6900
Keller Williams Ballantyne Area
BESbswy