Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

9164 Glenashley Drive Cornelius, NC 28031

3 Beds 3 Baths 1,672 sqft Built 2005

$289,900

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $173.39
  • 3 Days on Market
  • MLS # : 3706014
  • Updated Date : 02/06/2021 at 11:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,672 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mg Real Estate Group

Listing Agent's Description

Don't miss out on this beautiful home in desirable Cornelius and Heritage Green. Shows well, Interior updates include updated flooring on the mail level, new light fixtures, stainless steel appliances, updated lighting & under cabinet lighting.Open kitchen, 2nd floor laundry, spacious master with garden tub & walk-in closet. Lots of storage. Brand new water heater installed. Detached 1 car garage with green area and mature tree.

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: Heritage Green

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Heritage Green

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441891

* 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.v. Washam Elementary School Primary Regular 992 49 8
Bailey Middle School Middle Regular 1,616 77 9
William Amos Hough High School High Regular 2,453 120 8

J.v. Washam Elementary School

  • Education Level: Primary
  • # of students: 992
  • # of teachers: 49
8
GreatSchools Rating

Bailey Middle School

  • Education Level: Middle
  • # of students: 1,616
  • # of teachers: 77
9
GreatSchools Rating

William Amos Hough High School

  • Education Level: High
  • # of students: 2,453
  • # of teachers: 120
8
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,007
Property Tax -$214
Property Insurance -$59
HOA -$49
Property Management Fees -$119
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.

$289,900

PROJECTED PRICE

$1,490

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.2%
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$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$21,572

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,488

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4903$1,5854$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 9164 Glenashley Drive Cornelius, NC 2
    • 3 beds 3 baths ∙ 1,672 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,672 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.89
    •  
  • 9046 Glenashley Drive Cornelius, NC 1
    • 3 beds 3 baths ∙ 1,696 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,696 Sqft ∙ Built 2005
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.80
    •  
  • 9111 Glenashley Drive Cornelius, NC 3
    • 3 beds 3 baths ∙ 1,791 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,791 Sqft ∙ Built 2006
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $0.88
    •  
  • 11512 Heritage Green Drive Cornelius, NC 4
    • 3 beds 3 baths ∙ 1,715 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,715 Sqft ∙ Built 2005
    LEASED 02/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.93
    •  
  • 9188 Glenashley Drive Cornelius, NC 5
    • 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 2005
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.93
    •  
PROPERTY LISTING DETAILS
Hoover Gutierrez
1.704.287.2969
Mg Real Estate Group
BESbswy