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9017 Blue Willow Lane Charlotte, NC 28227

4 Beds 2 Baths 1,581 sqft Built 1985

$210,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $132.83
  • 3 Days on Market
  • MLS # : 3682441
  • Updated Date : 11/14/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,581 sqft
  • Baths : 2 full
Listing Agent

Re/max Leading Edge

Listing Agent's Description

Fully renovated open floor plan, newer roof, new gutters and fascia board, freshly painted exterior, new plumbing/ electrical fixtures, new wood-like flooring and carpet, fresh neutral interior paint, newly done bathroom, granite countertops and painted cabinets, fresh landscaping,

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: Mint Hill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $113k273k

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

Neighborhood: Mint Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8421527

* 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
Lebanon Road Elementary School Primary Regular 781 54 6
Northeast Middle School Middle Regular 739 45 3
Independence High School High Regular 2,349 128 6

Lebanon Road Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 54
6
GreatSchools Rating

Northeast Middle School

  • Education Level: Middle
  • # of students: 739
  • # of teachers: 45
3
GreatSchools Rating

Independence High School

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

$189,000$231,000$210,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$775
Property Tax -$183
Property Insurance -$57
HOA -$12
Property Management Fees -$132
CASH FLOW
$311

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.

$210,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.2%
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$100k$200k$300k$400k$500k$600k$700k$800k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

11.5

YEARS SAVED

$44,027

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,419

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,299
1$1,2992$1,3503$1,4004$1,4005$1,470
$1,470
RENT COMPS ANALYSIS
  • 9017 Blue Willow Lane Charlotte, NC 5
    • 4 beds 2 baths ∙ 1,581 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,581 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.93
    •  
  • 8806 Brass Bell Court Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,476 Sqft ∙ Built 3 beds 3 baths ∙ 1,476 Sqft ∙ Built
    property image
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.88
    •  
  • 8801 Milton Morris Drive Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,465 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,465 Sqft ∙ Built 1986
    property image
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.92
    •  
  • 9301 Chislehurst Road Mint Hill, NC 3
    • 3 beds 3 baths ∙ 1,548 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,548 Sqft ∙ Built 1989
    property image
    LEASED 06/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.90
    •  
  • 8220 Willowlake Court Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 1983
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.86
    •  
PROPERTY LISTING DETAILS
Lisa Carlton
1.704.699.3522
Re/max Leading Edge
BESbswy