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9126 E Orchard Lane Charlotte, NC 28210

3 Beds 2 Baths 1,744 sqft Built 1991

$340,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $194.95
  • 3 Days on Market
  • MLS # : 3687819
  • Updated Date : 12/05/2020 at 13:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,744 sqft
  • Baths : 2 full
Listing Agent

Prostead Realty

Listing Agent's Description

Charming Ranch home on quiet cul-de-sac street & large .33 acre lot. Open floor plan with soaring ceilings & tons of natural light. Large Great Room with cozy wood burning fireplace. Spacious owner's suite with tray ceiling, dual vanity, walk-in shower, garden tub & walk-in closet. Large screened porch & oversized patio overlooking private, tranquil back yard. Range & dishwasher 2019; HVAC system 2018; garage door & opener 2015; architectural roof 2010; and vinyl siding & replacement windows 2007. Minutes from South Park, Ballantyne, Quail Hollow & McAlpine Greenway. Easy drive to I-485, light rail, Pineville & Uptown.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,254
Property Tax -$312
Property Insurance -$60
HOA -$25
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 14% of earned rent to cover both maintenance and periods of vacancy.

$340,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.54%

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$0.0$5.0k$10k$15k

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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$30,109

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,844

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5503$1,8004$1,8205$1,850
$1,850
RENT COMPS ANALYSIS
  • 9126 E Orchard Lane Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $1.04
    •  
  • 3125 Windstream Court Charlotte, NC 1
    • 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 2
    • 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
    •  
  • 9249 Essen Lane Charlotte, NC 3
    • 4 beds 3 baths ∙ 1,575 Sqft ∙ Built 1983 4 beds 3 baths ∙ 1,575 Sqft ∙ Built 1983
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.14
    •  
  • 3209 Silver Pond Court Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,608 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,608 Sqft ∙ Built 1989
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.15
    •  
PROPERTY LISTING DETAILS
Ty Witmer
1.704.909.9531
Prostead Realty
BESbswy