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905 Sw Littleton Drive Concord, NC 28025

3 Beds 3 Baths 2,341 sqft Built 2006

$250,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $106.79
  • 2 Days on Market
  • MLS # : 3716952
  • Updated Date : 03/13/2021 at 13:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,341 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

This spacious 2 story home located in sought after Cabarrus county is ready for you to move right in and make it your own! Entry opens to the generously sized great room which leads to the kitchen, half bath, pantry, laundry and 1-car garage. Home offers updated flooring, backsplash and stainless steel appliances. Fridge, W/D convey with the property.  Upstairs has a large owners suite with a walk-in closet along with a loft.  Home is conveniently located close to 601 and 49. Hurry, this one will go fast!

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: Brandon Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210kPrice in $113k216k

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

Neighborhood: Brandon Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400Rent in $8401412

* 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
A T Allen Elementary School Primary Regular 925 59 5
C C Griffin Middle School Middle Regular 1,092 70 4
Central Cabarrus High School High Regular 1,416 88 4

A T Allen Elementary School

  • Education Level: Primary
  • # of students: 925
  • # of teachers: 59
5
GreatSchools Rating

C C Griffin Middle School

  • Education Level: Middle
  • # of students: 1,092
  • # of teachers: 70
4
GreatSchools Rating

Central Cabarrus High School

  • Education Level: High
  • # of students: 1,416
  • # of teachers: 88
4
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$868
Property Tax -$278
Property Insurance -$71
HOA -$19
Property Management Fees -$119
CASH FLOW
$204

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.

$250,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.9%
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

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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$30,564

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,738

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5603$1,6004$1,6995$1,850
$1,850
RENT COMPS ANALYSIS
  • 905 Sw Littleton Drive Concord, NC 2
    • 3 beds 3 baths ∙ 2,341 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,341 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.67
    •  
  • 926 Littleton Drive Concord, NC 1
    • 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 2006
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.73
    •  
  • 1537 Piney Church Road Concord, NC 3
    • 4 beds 3 baths ∙ 2,177 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,177 Sqft ∙ Built 2005
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.73
    •  
  • 1133 Manston Place Sw Concord, NC 4
    • 4 beds 3 baths ∙ 2,305 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,305 Sqft ∙ Built 2013
    LEASED 02/23/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.74
    •  
  • 1122 Manston Place Concord, NC 5
    • 3 beds 3 baths ∙ 2,403 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,403 Sqft ∙ Built 2015
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.77
    •  
PROPERTY LISTING DETAILS
Sylvia Gause
1.704.806.6779
Exp Realty Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3716952
Last Updated: 03/13/2021
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