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9315 Haywain Court Charlotte, NC 28213

4 Beds 3 Baths 1,954 sqft Built 1987

$175,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $89.56
  • 68 Days on Market
  • MLS # : 3679248
  • Updated Date : 01/09/2021 at 17:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,954 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Leading Edge

Listing Agent's Description

This home would be appropriate for an investors. It was tenant/owner occupied and needs TLC. It needs flooring, paint, trim work. The seller had divided two of the bedrooms with temporary walls. I got a quote of $750 to remove both of the walls. It is being sold as-is. It is an estate and seller has never lived in the home.

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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: Newell

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $108k235k

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

Neighborhood: Newell

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8261518

* 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
University Meadows Elementary School Primary Regular 657 45 4
James Martin Middle School Middle Regular 1,113 54 3
Vance High School High Regular 1,714 91 3

University Meadows Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 45
4
GreatSchools Rating

James Martin Middle School

  • Education Level: Middle
  • # of students: 1,113
  • # of teachers: 54
3
GreatSchools Rating

Vance High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 91
3
GreatSchools Rating
 

$157,500$192,500$175,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$608
Property Tax -$185
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$555

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.

$175,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.87%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 7.5%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$608

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

17.08

YEARS SAVED

$50,386

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,505

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,5003$1,5304$1,5955$1,695
$1,695
RENT COMPS ANALYSIS
  • 9315 Haywain Court Charlotte, NC 3
    • 4 beds 3 baths ∙ 1,954 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,954 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.78
    •  
  • 10103 Faires Farm Road Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,958 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,958 Sqft ∙ Built 2002
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.75
    •  
  • 9824 Aaronda Court Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,014 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,014 Sqft ∙ Built 1997
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.74
    •  
  • 9608 Kayce Lane Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,012 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,012 Sqft ∙ Built 1989
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.79
    •  
  • 11114 Amherst Glen Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,122 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,122 Sqft ∙ Built 2000
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.80
    •  
PROPERTY LISTING DETAILS
Cindy Snyder
1.704.699.7282
Re/max Leading Edge
BESbswy