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9237 Stonecrop Court Charlotte, NC 28210

4 Beds 3 Baths 2,110 sqft Built 1987

$407,900

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $193.32
  • 3 Days on Market
  • MLS # : 3703943
  • Updated Date : 02/06/2021 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,110 sqft
  • Baths : 2 full , 1 half
Listing Agent

Geoff Campbell Realty Inc

Listing Agent's Description

Welcome Home to Cameron Wood! You're going to love this traditional 2 story home located on a cul-de -sac. Main floor feature formal living and dining rooms with crown moldings and chair rail moldings. Den with raised hearth masonry fireplace. Kitchen with light cabinets and tile floor opens to fabulous screened porch with vaulted ceilings. Screened porch overlooks stone patio and fenced yard. Don't miss the beautiful Koi Pond!. Upstairs you'll find 3 nicely sized secondary bedrooms and Master bedroom with cathedral ceilings. Master bedroom has a walk in closet and large Master bath with soaking tub and separate shower. Home has Hardie Plank exterior, commercial sized gutters and an Architectural roof. Plenty of storage in the oversized 2 car garage. Lots of community amenities and a great South Charlotte location. Showings start 2/6/21 Don't miss out! Schedule a tour today.

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: Seven Eagles

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $116k420k

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

Neighborhood: Seven Eagles

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8442165

* 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
Smithfield Elementary School Primary Regular 646 44 6
Quail Hollow Middle School Middle Regular 946 51 3
South Mecklenburg High School High Regular 2,913 147 7

Smithfield Elementary School

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 44
6
GreatSchools Rating

Quail Hollow Middle School

  • Education Level: Middle
  • # of students: 946
  • # of teachers: 51
3
GreatSchools Rating

South Mecklenburg High School

  • Education Level: High
  • # of students: 2,913
  • # of teachers: 147
7
GreatSchools Rating
 

$367,110$448,690$407,900

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,417
Property Tax -$375
Property Insurance -$67
HOA -$29
Property Management Fees -$119
CASH FLOW
-$87

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.

$407,900

PROJECTED PRICE

$1,920

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 3.4%
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-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$113,844

INVESTMENT

$113,844

Down Payment
$101,975
Rehab Estimate
$5,750
Closing Costs
$6,119

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,417

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $101,975
Loan Amount $305,925
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$17,443

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,084

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9203$2,1004$2,3005$2,495
$2,495
RENT COMPS ANALYSIS
  • 9237 Stonecrop Court Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,110 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,110 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.91
    •  
  • 3229 Silver Pond Court Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 1989
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.92
    •  
  • 2939 Notchview Court Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,238 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,238 Sqft ∙ Built 1991
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.94
    •  
  • 9905 Chimney Corner Court Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,216 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,216 Sqft ∙ Built 1989
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.04
    •  
  • 5733 Connor Boulevard Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 1978
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.05
    •  
PROPERTY LISTING DETAILS
Geoff Campbell
1.704.400.1644
Geoff Campbell Realty Inc
BESbswy