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902 E Harrison Avenue 
Gastonia, NC
28054
3 Beds 2 Baths 1,337 sqft
Built 2020
INVESTimate
$210,000
List Price
$57,650
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PROPERTY INFO
FACTS
- Built In 2020
- Price/Sqft : $157.07
- 2 Days on Market
- MLS # : 3653943
- Updated Date : 08/25/2020 at 15:32
CONSTRUCTION
- Beds : 3
- Floor Size : 1,337 sqft
- Baths : 2 full
Listing Agent
Keller Williams Ballantyne Area
Listing Agent's Description
Beautiful new home near Harrison Avenue. It takes less than 7 mins to Q.T, Mall, Family Dollar. 13 min away from CLT airport. There are Plenty of side yard space to put Deck. Modern kitchen! A must see!
SEE MORE
- 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
Zip Code: 28054
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28054
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,150 |
| EXPENSES | Loan Payment | -$775 |
| Property Tax | -$170 | |
| Property Insurance | -$52 | |
| Property Management Fees | -$104 | |
|
CASH FLOW
$50
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.
$210,000
PROJECTED PRICE
$1,150
PROJECTED RENT
0.55%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.94% |
| Appreciation Year (1-5) | 5.95% |
| Maintenance Year (1-5) | 3.00% |
| Vacancy | 6.02% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$57,650
LOAN DETAILS
$775
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $52,500 |
| Loan Amount | $157,500 |
5.5
YEARS SAVED
$14,992
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,150
LIST RENT -
$0.86
LIST RENT PER SQFT
-
$1,230
COMP ESTIMATED VALUE -
$0.92
COMP AVG. RENT PER SQFT
Comps Range
-
902 E Harrison Avenue Gastonia, NC 3
- 3 beds 2 baths ∙ 1,337 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,337 Sqft ∙ Built 2020
- Rent
- Rent Per SQFT
- $1,150
- $0.86
-
200 E Page Avenue Gastonia, NC 1
- 3 beds 1 baths ∙ 1,155 Sqft ∙ Built 1965 3 beds 1 baths ∙ 1,155 Sqft ∙ Built 1965
LEASED 04/30/20- Rent
- Rent Per SQFT
- $899
- $0.78
-
811 Circle View Gastonia, NC 2
- 3 beds 1 baths ∙ 1,008 Sqft ∙ Built 1959 3 beds 1 baths ∙ 1,008 Sqft ∙ Built 1959
LEASED 01/15/20- Rent
- Rent Per SQFT
- $950
- $0.94
-
836 Raindrops Road Gastonia, NC 4
- 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 2003
LEASED 03/01/20- Rent
- Rent Per SQFT
- $1,295
- $0.98
-
1217 Bicycle Court Gastonia, NC 5
- 3 beds 3 baths ∙ 1,450 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,450 Sqft ∙ Built 2006
LEASED 05/19/20- Rent
- Rent Per SQFT
- $1,350
- $0.93
PROPERTY LISTING DETAILS
1.704.228.6900
Keller Williams Ballantyne Area
