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930 Traditions Park Drive Pineville, NC 28134

4 Beds 3 Baths 2,568 sqft Built 2008

$380,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $147.98
  • 4 Days on Market
  • MLS # : 3722408
  • Updated Date : 03/25/2021 at 21:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,568 sqft
  • Baths : 3 full
Listing Agent

My Townhome

Listing Agent's Description

UNIQUE Four Bedroom home in the heart of Pineville! This home features an open floorplan, spacious living areas and a second floor bonus room perfect for a second living quarters or place to entertain! Spend some time in your back yard under the canopy or next to the fire!

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: Pineville

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $108k251k

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

Neighborhood: Pineville

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8421652

* 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
Pineville Elementary School Primary Regular 811 45 7
Quail Hollow Middle School Middle Regular 946 51 3
South Mecklenburg High School High Regular 2,913 147 7

Pineville Elementary School

  • Education Level: Primary
  • # of students: 811
  • # of teachers: 45
7
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
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,320
Property Tax -$314
Property Insurance -$76
HOA -$20
Property Management Fees -$119
CASH FLOW
$22

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.

$380,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 9.2%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$21,497

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,054

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,8504$1,8705$2,000
$2,000
RENT COMPS ANALYSIS
  • 930 Traditions Park Drive Pineville, NC 4
    • 4 beds 3 baths ∙ 2,568 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,568 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.73
    •  
  • 840 Pelican Bay Drive Pineville, NC 1
    • 4 beds 4 baths ∙ 2,442 Sqft ∙ Built 2000 4 beds 4 baths ∙ 2,442 Sqft ∙ Built 2000
    property image
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.74
    •  
  • 10235 Enniscrone Road Pineville, NC 2
    • 4 beds 3 baths ∙ 2,233 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,233 Sqft ∙ Built 2010
    property image
    LEASED 03/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.83
    •  
  • 349 Primrose Walk Fort Mill, SC 3
    • 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 2009
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.77
    •  
  • 903 Traditions Park Drive Pineville, NC 5
    • 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 2011
    property image
    LEASED 02/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.82
    •  
PROPERTY LISTING DETAILS
Andrea Jones
1.704.408.9787
My Townhome
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3722408
Last Updated: 03/25/2021
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