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916 Harrier Road Charlotte, NC 28216

3 Beds 3 Baths 2,148 sqft Built 2014

$245,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $114.06
  • 3 Days on Market
  • MLS # : 3695428
  • Updated Date : 01/09/2021 at 14:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,148 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Prepare to be impressed when you enter this superbly maintained home in the Raven Ridge Community. Constructed over two levels, this home enjoys abundant natural light and a layout designed for easy living and entertaining. The ground floor incorporates an open floor plan which includes a generously proportioned family room, inviting kitchen, mud room, office and laundry room. Upstairs you will find three dreamy split bedrooms, family sized bathroom and a loft to unwind. The master bathroom suite with walk-in closet and bathroom encourages relaxation. Located in a friendly neighborhood, this home is close to local attractions and easy access to 485 and I-85. Be prepared to fall in love at first sight!!

SEE MORE

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: Oakdale South

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $90k235k

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

Neighborhood: Oakdale South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7831518

* 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
Oakdale Elementary School Primary Regular 646 38 2
Ranson Middle School Middle Regular 1,138 57 3
West Charlotte High School High Regular 1,777 109 3

Oakdale Elementary School

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 38
2
GreatSchools Rating

Ranson Middle School

  • Education Level: Middle
  • # of students: 1,138
  • # of teachers: 57
3
GreatSchools Rating

West Charlotte High School

  • Education Level: High
  • # of students: 1,777
  • # of teachers: 109
3
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$851
Property Tax -$215
Property Insurance -$68
HOA -$16
Property Management Fees -$119
CASH FLOW
$261

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.

$245,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.0%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

10.42

YEARS SAVED

$37,871

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,568

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,449
1$1,4492$1,5303$1,5994$1,6005$1,700
$1,700
RENT COMPS ANALYSIS
  • 916 Harrier Road Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,148 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,148 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.71
    •  
  • 2414 Dewey Creek Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,092 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,092 Sqft ∙ Built 2017
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.69
    •  
  • 625 Rook Road Charlotte, NC 3
    • 3 beds 3 baths ∙ 2,109 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,109 Sqft ∙ Built 2013
    property image
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.76
    •  
  • 423 Mountain Quail Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 2006
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.71
    •  
  • 802 Dale Avenue Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,226 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,226 Sqft ∙ Built 2012
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.76
    •  
PROPERTY LISTING DETAILS
Veronica Boyd
1.704.685.5858
Keller Williams Realty
BESbswy