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9105 Gray Willow Road Charlotte, NC 28227

3 Beds 2 Baths 1,393 sqft Built 2008

$252,500

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $181.26
  • 21 Days on Market
  • MLS # : 3710924
  • Updated Date : 03/13/2021 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,393 sqft
  • Baths : 2 full
Listing Agent

Team Thomas & Associates Realty Inc.

Listing Agent's Description

THE PLACE TO BE!! Beautiful ranch in the Desirable Community of Woodbury in Mint Hill! 3 BR, 2 BA with a open floor plan where the spacious kitchen with granite, SS appliances, backsplash overlooks the family room for great entertainment. Neutral paint throughout, LTV flooring, over-sized master Ste. The Solar panel saves money on your power Bill and the one of the amazing features of the house is the HOA handles the landscaping plus this house is on a corner lot. Great Amenities such has walk to the Jr Olympic pool w/ waterpark, playground, Huge clubhouse, waling trails and athletic fields. Close to I-485, University and Concord Mills. Come Quick!!! Wont last long.

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: Bradfield Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230kPrice in $113k235k

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

Neighborhood: Bradfield Farms

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
J.h. Gunn Elementary School Primary Regular 695 42 2
Albemarle Road Middle School Middle Regular 1,198 64 2
Rocky River High School High Regular 1,710 90 3

J.h. Gunn Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 42
2
GreatSchools Rating

Albemarle Road Middle School

  • Education Level: Middle
  • # of students: 1,198
  • # of teachers: 64
2
GreatSchools Rating

Rocky River High School

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

$227,250$277,750$252,500

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$877
Property Tax -$220
Property Insurance -$53
HOA -$90
Property Management Fees -$119
CASH FLOW
-$49

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.

$252,500

PROJECTED PRICE

$1,310

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.9%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,663

INVESTMENT

$72,663

Down Payment
$63,125
Rehab Estimate
$5,750
Closing Costs
$3,788

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$877

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,125
Loan Amount $189,375
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$8,880

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,309

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3103$1,4004$1,4505$1,550
$1,550
RENT COMPS ANALYSIS
  • 9105 Gray Willow Road Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,393 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,393 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.94
    •  
  • 11812 Downy Birch Road Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 2009
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.93
    •  
  • 11623 Stewarts Crossing Drive Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2000
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.93
    •  
  • 9510 Abson Court Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 2000
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 10010 Bristley Road Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 2010
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.95
    •  
PROPERTY LISTING DETAILS
Leslie Harrison
1.704.402.9785
Team Thomas & Associates Realty Inc.
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3710924
Last Updated: 03/13/2021
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