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9008 Steelechase Drive Charlotte, NC 28273

4 Beds 3 Baths 1,988 sqft Built 1998

$305,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $153.42
  • 5 Days on Market
  • MLS # : 3706812
  • Updated Date : 02/12/2021 at 09:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,988 sqft
  • Baths : 2 full , 1 half
Listing Agent

Real Broker Llc

Listing Agent's Description

Beautiful, meticulously maintained home in popular Steele Creek ready for move in! Brick front with a 2 car garage and HUGE backyard ready for entertaining complete with a gazebo and shed. Beautiful bay windows in the kitchen along with tile floors and all brand new appliances. New carpet throughout second floor and new paint throughout the entire home. Master bathroom has separate dual vanities and a Whirl Pool tub. All bathrooms have new lighting fixtures. Closing to shopping, restaurants and more with easy access to 485 and 77. Don't miss this opportunity, 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: Olde Whitehall

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $108k235k

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

Neighborhood: Olde Whitehall

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8201518

* 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
Steele Creek Elementary School Primary Regular 737 43 6
Kennedy Middle School Middle Regular 722 43 4
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

Steele Creek Elementary School

  • Education Level: Primary
  • # of students: 737
  • # of teachers: 43
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
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,059
Property Tax -$266
Property Insurance -$65
HOA -$8
Property Management Fees -$119
CASH FLOW
$133

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$305,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$27,525

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,660

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5503$1,5864$1,6505$1,750
$1,750
RENT COMPS ANALYSIS
  • 9008 Steelechase Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 1,988 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,988 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
  • 11730 Musket Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 1,813 Sqft ∙ Built 1979 4 beds 3 baths ∙ 1,813 Sqft ∙ Built 1979
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.82
    •  
  • 11632 Larix Drive Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,829 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,829 Sqft ∙ Built 1999
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.85
    •  
  • 11410 Larix Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,859 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,859 Sqft ∙ Built 2000
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,586
    • $0.85
    •  
  • 11522 Quiet Pine Court Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,146 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,146 Sqft ∙ Built 1988
    LEASED 02/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.82
    •  
PROPERTY LISTING DETAILS
Zanthia Hastings
1.704.737.6976
Real Broker Llc
BESbswy