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9109 E Orchard Lane Charlotte, NC 28210

3 Beds 2 Baths 1,831 sqft Built 1992

$345,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $188.42
  • 4 Days on Market
  • MLS # : 3704483
  • Updated Date : 02/06/2021 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,831 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

Welcome Home! 9109 E. Orchard Lane is an incredible find in the highly desirable neighborhood of Cameron Wood in South Charlotte. With three bedrooms and two full bathrooms, this home offers more than 1800 square feet of living space. With newer stainless steel appliances, a new AC/Furnace installed in July 2020, large pantry, and quartz countertops, this home is sure to please. Numerous windows allow in natural light, making the home's open floor plan feel fresh and bright. The master suite showcases vaulted ceilings and a spacious, upscale master bathroom. Two additional bedrooms and a full guest bathroom can also be found in this home. One of the guest bedrooms is currently used as an office and makes working from home a breeze. Just off the living area, a large, comfortable, screened in porch overlooks the home's generous sized backyard. Don't miss this great find!

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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: Seven Eagles

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $116k420k

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

Neighborhood: Seven Eagles

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8442165

* 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
Smithfield Elementary School Primary Regular 646 44 6
Quail Hollow Middle School Middle Regular 946 51 3
South Mecklenburg High School High Regular 2,913 147 7

Smithfield Elementary School

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 44
6
GreatSchools Rating

Quail Hollow Middle School

  • Education Level: Middle
  • # of students: 946
  • # of teachers: 51
3
GreatSchools Rating

South Mecklenburg High School

  • Education Level: High
  • # of students: 2,913
  • # of teachers: 147
7
GreatSchools Rating
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,198
Property Tax -$317
Property Insurance -$62
HOA -$29
Property Management Fees -$119
CASH FLOW
$5

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.

$345,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 3.4%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$21,092

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,730

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,5504$1,7305$1,795
$1,795
RENT COMPS ANALYSIS
  • 9109 E Orchard Lane Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,831 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,831 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.94
    •  
  • 8729 Timbercrest Circle Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1974
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 3125 Windstream Court Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,532 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,532 Sqft ∙ Built 1987
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.98
    •  
  • 2634 Lytham Drive Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1981
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
  • 3229 Silver Pond Court Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 1989
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.92
    •  
PROPERTY LISTING DETAILS
Brian Casper
1.704.904.8966
Keller Williams Ballantyne Area
BESbswy