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9017 Sharpes Circle Charlotte, NC 28214

4 Beds 3 Baths 2,028 sqft Built 2017

$249,900

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $123.22
  • 3 Days on Market
  • MLS # : 3690724
  • Updated Date : 12/18/2020 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,028 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

Lovely 2-story home in Waldon Ridge community. It features welcoming covered front porch, foyer, dining area, spacious living room, kitchen w/island, black appliances, plenty of space to spread out w/tons of counter & cabinet space (great space for prep/cooking/baking) & powder room on the main level. Upstairs you will find the large Owner's Suite w/sitting area, ceiling fan, private bath & walk-in closet. There are 3 additional bedrooms, a full bathroom & laundry area upstairs as well. Relax & unwind on the HUGE deck overlooking the fenced-in backyard. You will love the convenient 1-car garage too. Amazing location! Close to everything! Commuting is easy w/nearby access to 485, Uptown Charlotte & the airport. No HOA! a Nice walking trail is close. Very close to the National Whitewater center.

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: Wildwood

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Wildwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6661518

* 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
Whitewater Academy Primary Unknown 756 45 NA
Whitewater Middle School Middle Regular 924 53 5
West Mecklenburg High School High Regular 2,040 108 1

Whitewater Academy

  • Education Level: Primary
  • # of students: 756
  • # of teachers: 45
NA
GreatSchools Rating

Whitewater Middle School

  • Education Level: Middle
  • # of students: 924
  • # of teachers: 53
5
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$922
Property Tax -$218
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$126

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.

$249,900

PROJECTED PRICE

$1,450

PROJECTED RENT

0.58%

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$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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

7.75

YEARS SAVED

$29,363

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,496

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3953$1,3994$1,4505$1,499
$1,499
RENT COMPS ANALYSIS
  • 9017 Sharpes Circle Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,028 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,028 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.71
    •  
  • 10239 Apple Dove Court Charlotte, NC 1
    • 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 2004
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.72
    •  
  • 1941 Pheasant Glen Road Charlotte, NC 2
    • 4 beds 3 baths ∙ 1,832 Sqft ∙ Built 2008 4 beds 3 baths ∙ 1,832 Sqft ∙ Built 2008
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.76
    •  
  • 7823 Euler Way Charlotte, NC 3
    • 4 beds 3 baths ∙ 1,836 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,836 Sqft ∙ Built 2000
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.76
    •  
  • 8001 Pawtuckett Road Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2016
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.68
    •  
PROPERTY LISTING DETAILS
John Dicristo
1.704.576.6234
Keller Williams Ballantyne Area
BESbswy