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9221 Stone Abbey Place Charlotte, NC 28215

3 Beds 3 Baths 1,652 sqft Built 1993

$289,900

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $175.48
  • MLS # : CAR3761686
  • Updated Date : 07/12/2021 at 22:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,652 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dm Properties & Associates

Listing Agent's Description

***Agent Owned*** This home is located in the back of the neighborhood in a quiet culdesac. Fully fenced in backyard that backs up to a private wooded area that showcases some pretty spectacular sunsets. Inside you will see an updated kitchen with granite countertops, shaker style cabinets (with a soft close feature) and a good sized island (with ample storage). Dining room is being used as a playroom but could easily be an office. HVAC was replaced in 2020. Laundry room upstairs with shelves/rack for extra storage. Secondary bedrooms have lots of closet space. Large master bedroom with sitting area/nook. Neighborhood pool (with slide), tennis/basketball courts and playground are some of the amenities that make this such a great neighborhood! Close to I485.

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: Silverwood

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230kPrice in $113k235k

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

Neighborhood: Silverwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8421518

* 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
Reedy Creek Elementary School Primary Regular 730 44 6
Northridge Middle School Middle Regular 779 43 3
Rocky River High School High Regular 1,710 90 3

Reedy Creek Elementary School

  • Education Level: Primary
  • # of students: 730
  • # of teachers: 44
6
GreatSchools Rating

Northridge Middle School

  • Education Level: Middle
  • # of students: 779
  • # of teachers: 43
3
GreatSchools Rating

Rocky River High School

  • Education Level: High
  • # of students: 1,710
  • # of teachers: 90
3
GreatSchools Rating
 

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

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$1,007
Property Tax -$253
Property Insurance -$58
HOA -$28
Property Management Fees -$119
CASH FLOW
-$5

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.

$289,900

PROJECTED PRICE

$1,460

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.1%
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-$2.0k$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$200k$400k$600k$800k

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 50% 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

5

YEARS SAVED

$14,590

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,528

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3753$1,3954$1,4955$1,595
$1,595
RENT COMPS ANALYSIS
  • 9221 Stone Abbey Place Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,652 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,652 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 9388 Hamel Street Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,522 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,522 Sqft ∙ Built 2017
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.90
    •  
  • 8548 Langley Mill Court Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,477 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,477 Sqft ∙ Built 1992
    LEASED 03/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.94
    •  
  • 8823 Kishorn Court Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 1994
    LEASED 07/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 10100 Brawley Lane Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1993
    LEASED 01/23/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.90
    •  
PROPERTY LISTING DETAILS
Aj Jackson
1.704.352.1074
Dm Properties & Associates
BESbswy