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9045 Harrisburg Road #1-B Charlotte, NC 28215

4 Beds 3 Baths 2,370 sqft Built 1990

$310,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $130.80
  • 4 Days on Market
  • MLS # : 3709006
  • Updated Date : 02/20/2021 at 17:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,370 sqft
  • Baths : 2 full , 1 half
Listing Agent

Reino Company, Llc

Listing Agent's Description

DON’T MISS THIS OPPORTUNITY!!!! Completely renovated in 2018: new roof, new windows, new flooring, new kitchen, new deck, new appliances, new bathrooms, Fiber Cement Exterior. Freshly painted this year. A great opportunity to have a piece of countryside closed to uptown. Enough land for a garden and some chickens. No HOA. The property is on city water and a septic tank, but sewer is available with a tap fee.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Silverwood

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230kPrice in $113k235k

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

Neighborhood: Silverwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8421518

* 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
Reedy Creek Elementary School Primary Regular 730 44 6
Northridge Middle School Middle Regular 779 43 3
Rocky River High School High Regular 1,710 90 3

Reedy Creek Elementary School

  • Education Level: Primary
  • # of students: 730
  • # of teachers: 44
6
GreatSchools Rating

Northridge Middle School

  • Education Level: Middle
  • # of students: 779
  • # of teachers: 43
3
GreatSchools Rating

Rocky River High School

  • Education Level: High
  • # of students: 1,710
  • # of teachers: 90
3
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,077
Property Tax -$270
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
$62

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.

$310,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.1%
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-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$21,298

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,730

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,7254$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 9045 Harrisburg Road Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.68
    •  
  • 6011 Timbertop Lane Charlotte, NC 2
    • 3 beds 4 baths ∙ 2,366 Sqft ∙ Built 2004 3 beds 4 baths ∙ 2,366 Sqft ∙ Built 2004
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.70
    •  
  • 4217 Stockbrook Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 2,202 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,202 Sqft ∙ Built 2020
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.78
    •  
  • 4213 Stockbrook Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2020
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.73
    •  
  • 4225 Stockbrook Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2020
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.73
    •  
PROPERTY LISTING DETAILS
Eliseo Pascual
1.704.713.9346
Reino Company, Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3709006
Last Updated: 02/20/2021
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