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907 E Ninth Avenue Gastonia, NC 28054

3 Beds 2 Baths 1,551 sqft Built 1965

$234,999

List Price

$1,200

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1965
  • Price/Sqft : $151.51
  • 2 Days on Market
  • MLS # : 3677840
  • Updated Date : 11/02/2020 at 09:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,551 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Premier

Listing Agent's Description

Spacious full brick ranch home with open concept ready for you to move into today. This home offers plenty of space for entertaining inside and out; simply consider the large family room that opens to both the living room and kitchen, or the all season room that leads out to the oversized back porch. With such amenities, you could easily take advantage of some indoor-outdoor living. If cooking is your thing then you do not want to miss out on the new kitchen equipped with all new white, soft close cabinets, stainless steel appliances, and granite countertops. Seeking quiet time in your own personal retreat? Then look no further then the remodeled bathrooms that come with all new custom tile work and flooring. With so much to offer, you make want to take a closer look before the opportunity passes you by.

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: East Gastonia

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k213k

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

Neighborhood: East Gastonia

ZipNIR Market*CityMarket2010Year20002019 Q270075080085090095010001050110011501200125013001350Rent in $6771375

* 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
Sherwood Elementary School Primary Regular 659 38 4
Grier Middle School Middle Regular 679 38 6
Ashbrook High School High Regular 1,436 89 4

Sherwood Elementary School

  • Education Level: Primary
  • # of students: 659
  • # of teachers: 38
4
GreatSchools Rating

Grier Middle School

  • Education Level: Middle
  • # of students: 679
  • # of teachers: 38
6
GreatSchools Rating

Ashbrook High School

  • Education Level: High
  • # of students: 1,436
  • # of teachers: 89
4
GreatSchools Rating
 

$211,499$258,499$234,999

PURCHASE PRICE

$1,080$1,320$1,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,200
EXPENSES Loan Payment -$867
Property Tax -$190
Property Insurance -$56
Property Management Fees -$108
CASH FLOW
-$21

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.

$234,999

PROJECTED PRICE

$1,200

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 6.0%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,249
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$10,183

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,200

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,194

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,2003$1,3004$1,4195$1,500
$1,500
RENT COMPS ANALYSIS
  • 907 E Ninth Avenue Gastonia, NC 2
    • 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 1965
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.77
    •  
  • 1201 Monroe Drive Gastonia, NC 1
    • 3 beds 1 baths ∙ 1,732 Sqft ∙ Built 1965 3 beds 1 baths ∙ 1,732 Sqft ∙ Built 1965
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.69
    •  
  • 325 Columbia Street Gastonia, NC 3
    • 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1920 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1920
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.77
    •  
  • 607 S South Street Gastonia, NC 4
    • 3 beds 1 baths ∙ 1,696 Sqft ∙ Built 1926 3 beds 1 baths ∙ 1,696 Sqft ∙ Built 1926
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,419
    • $0.84
    •  
  • 1539 Georgetowne Drive Gastonia, NC 5
    • 4 beds 3 baths ∙ 1,884 Sqft ∙ Built 1970 4 beds 3 baths ∙ 1,884 Sqft ∙ Built 1970
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.80
    •  
PROPERTY LISTING DETAILS
Jose Sanchez
1.980.285.8093
Keller Williams Premier
BESbswy