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9131 Seamill Road Charlotte, NC 28278

3 Beds 3 Baths 2,603 sqft Built 2007

$320,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $122.94
  • 10 Days on Market
  • MLS # : 3677188
  • Updated Date : 11/14/2020 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,603 sqft
  • Baths : 2 full , 1 half
Listing Agent

U Realty

Listing Agent's Description

Well maintained 3BD/2.5BA home features an open floor plan, spacious living room, family room with gas fireplace and gorgeous kitchen with spacious island. Large master bedroom with sitting area and a huge walk in closet. Large master bath with double vanities. Two oversized bedrooms upstairs. A loft that can be converted to a 4th bedroom if needed. This home also has a flat, wooded and fully fenced-in backyard. Berewick is an amenity-rich community. It offers clubhouse with fitness center, pools, playground, volleyball courts and walking trails. Conveniently located near I-485, minutes to Charlotte Premium outlet, lake Wylie and much more! Home is freshly painted.

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: Berewick

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Berewick

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8441914

* 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
Berewick Elementary School Primary Regular 601 38 6
Kennedy Middle School Middle Regular 722 43 4
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

Berewick Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 38
6
GreatSchools Rating

Kennedy Middle School

  • Education Level: Middle
  • # of students: 722
  • # of teachers: 43
4
GreatSchools Rating

Math, Engineering, Technology And Science At Olympic High School

  • Education Level: High
  • # of students: 607
  • # of teachers: 28
7
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,181
Property Tax -$280
Property Insurance -$76
HOA -$67
Property Management Fees -$163
CASH FLOW
$43

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.

$320,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.0%
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

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$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$21,708

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,881

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7753$1,8104$1,8505$1,995
$1,995
RENT COMPS ANALYSIS
  • 9131 Seamill Road Charlotte, NC 3
    • 3 beds 3 baths ∙ 2,603 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,603 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.70
    •  
  • 6633 Evanton Loch Road Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,585 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,585 Sqft ∙ Built 2005
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.68
    •  
  • 10631 Bedlington Road Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 2007
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.70
    •  
  • 9034 Seamill Road Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,490 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,490 Sqft ∙ Built 2007
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.74
    •  
  • 10109 Halkirk Manor Lane Charlotte, NC 5
    • 3 beds 3 baths ∙ 2,696 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,696 Sqft ∙ Built 2005
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.74
    •  
PROPERTY LISTING DETAILS
Bryan Tan
1.704.248.6159
U Realty
BESbswy