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9216 Knotty Pine Circle Charlotte, NC 28227

3 Beds 2 Baths 1,512 sqft Built 1977

$225,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $148.81
  • 4 Days on Market
  • MLS # : 3693491
  • Updated Date : 12/25/2020 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,512 sqft
  • Baths : 2 full
Listing Agent

Bright House Real Estate Llc

Listing Agent's Description

1-1/2 story Cape Cod style home, close to shopping, grocery, medical & much more. Conveniently located near main roads for easy access to I-485 & Albemarle Rd. Mature Timber Creek community highlights this nice home featuring a covered front porch, freshly aerated & seeded fenced back yard, trimmed trees, locked exterior storage room & storage shed. Move-in ready w/2 beds on main and master suite including bonus area on the upper floor. The eat-in kitchen hosts under cabinet lighting, stainless appliances, disposal, microwave & refrigerator. Full bath on main includes tub/shower combo. Master bath on upper level sports tile flooring, tile shower & walk-in master closet. Enjoy the chilly evenings in the living room warming up by the wood burning fire place. Great home, great price, good location....come see for yourself. Please follow Covid guidelines. No more that 3 people at a time in the home. Wear your mask & remove shoes upon entering. Booties provided for feet.

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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: Becton Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Becton Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771518

* 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.h. Gunn Elementary School Primary Regular 695 42 2
Albemarle Road Middle School Middle Regular 1,198 64 2
Independence High School High Regular 2,349 128 6

J.h. Gunn Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 42
2
GreatSchools Rating

Albemarle Road Middle School

  • Education Level: Middle
  • # of students: 1,198
  • # of teachers: 64
2
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 2,349
  • # of teachers: 128
6
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$830
Property Tax -$196
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$89

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.

$225,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$23,944

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,281

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,1953$1,2494$1,2905$1,295
$1,295
RENT COMPS ANALYSIS
  • 9216 Knotty Pine Circle Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1977
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.85
    •  
  • 9614 Fir Knoll Road Mint Hill, NC 1
    • 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1977
    property image
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.83
    •  
  • 5932 Loch Arbor Lane Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1987
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.82
    •  
  • 6313 Harrisburg Road Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1979
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $0.82
    •  
  • 6021 Scots Bluff Drive Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1992
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.92
    •  
PROPERTY LISTING DETAILS
Jolie Ferrier
1.704.340.4177
Bright House Real Estate Llc
BESbswy