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9104 Brightleaf Place Charlotte, NC 28269

4 Beds 3 Baths 2,432 sqft Built 1990

$295,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $121.30
  • 2 Days on Market
  • MLS # : 3685542
  • Updated Date : 11/21/2020 at 17:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,432 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

Cul-de-sac lot located in desirable Davis Lake community. Great open floor plan w/ 2 story great room & foyer. Spacious kitchen w/granite counters & oversized island, stainless steel appliances including a double wall oven. The kitchen has a breakfast area that opens up to the family room w/ masonry fireplace. Large master suite w/tray ceiling, walk-in closet, dual sinks w/ vanity area, tile floors, jetted garden tub & separate shower. Wide plank wood floors in foyer, hall, family room, kitchen, half bath, great room & dining area. The 4th bedroom has a closet, & an access door but currently set up as a loft. Nice stone patio w/small pond semi-private backyard. The roof replaced in 2013, and the water heater was replaced around 2016 (per the previous owner).

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: Davis Lake - Eastfield

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Davis Lake - Eastfield

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Croft Community School Primary Regular 644 35 NA
J.m. Alexander Middle School Middle Regular 865 40 4
North Mecklenburg High School High Regular 1,881 101 3

Croft Community School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 35
NA
GreatSchools Rating

J.m. Alexander Middle School

  • Education Level: Middle
  • # of students: 865
  • # of teachers: 40
4
GreatSchools Rating

North Mecklenburg High School

  • Education Level: High
  • # of students: 1,881
  • # of teachers: 101
3
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,088
Property Tax -$274
Property Insurance -$73
HOA -$63
Property Management Fees -$149
CASH FLOW
$4

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.

$295,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$16,211

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,733

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,635
1$1,6352$1,6503$1,7254$1,7455$1,800
$1,800
RENT COMPS ANALYSIS
  • 9104 Brightleaf Place Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,432 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,432 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.68
    •  
  • 4801 Canipe Drive Charlotte, NC 1
    • 5 beds 3 baths ∙ 2,258 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,258 Sqft ∙ Built 2006
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,635
    • $0.72
    •  
  • 9118 Laurel Ridge Trail Charlotte, NC 3
    • 3 beds 3 baths ∙ 2,510 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,510 Sqft ∙ Built 1991
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.69
    •  
  • 9229 Heritage Woods Place Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,550 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,550 Sqft ∙ Built 1990
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.68
    •  
  • 9733 Harris Glen Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,363 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,363 Sqft ∙ Built 1992
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.76
    •  
PROPERTY LISTING DETAILS
Dwayne Hunter
1.704.622.9914
Keller Williams Ballantyne Area
BESbswy