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9332 Windsong Drive Charlotte, NC 28273

3 Beds 2 Baths 1,449 sqft Built 1972

$225,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $155.28
  • 6 Days on Market
  • MLS # : 3683258
  • Updated Date : 11/21/2020 at 18:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,449 sqft
  • Baths : 1 full , 1 half
Listing Agent

National Real Estate

Listing Agent's Description

Adorable ranch home with recent updates situated on a 1/4 acre in South Charlotte. Located at the very end of a dead end street, and adjacent to 60 acre parcel of woods owned by Central Piedmont community college which ensures your privacy and seclusion of your private fenced backyard. This lovely home boasts 3 bedrooms, and 1.5 baths. Once inside you will enjoy a large living room, as well as a dining room and rare additional family room complete with laminate hardwoods throughout the main living areas, carpet in bedrooms and tile flooring in your updated bathrooms. The HVAC, hot water heater, oversized 4+ car concrete driveway, and gutters are all brand new installed in November 2020. The kitchen boasts stainless steel appliances and you will find neutral paint throughout the home. Home is tucked away in an established neighborhood just minutes away from Light Rail Station and Bus Line. Home is also just minutes from I-77 and I-485 and close to shopping and dining.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Montclaire South

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $56k235k

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

Neighborhood: Montclaire South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6691518

* 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
Sterling Elementary School Primary Regular 693 40 3
Quail Hollow Middle School Middle Regular 946 51 3
South Mecklenburg High School High Regular 2,913 147 7

Sterling Elementary School

  • Education Level: Primary
  • # of students: 693
  • # of teachers: 40
3
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
 

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

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$830
Property Tax -$183
Property Insurance -$54
Property Management Fees -$121
CASH FLOW
$152

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

$1,340

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.4%
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$100k$200k$300k$400k$500k$600k$700k$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

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

7.67

YEARS SAVED

$26,786

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,358

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,160
1$1,1602$1,3403$1,3504$1,5505$1,750
$1,750
RENT COMPS ANALYSIS
  • 9332 Windsong Drive Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.92
    •  
  • 445 Short Hills Drive Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,221 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,221 Sqft ∙ Built 1969
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,160
    • $0.95
    •  
  • 1800 Brookdale Avenue Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1962
    property image
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.93
    •  
  • 6918 Woodstock Drive Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 1963
    property image
    LEASED 06/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.90
    •  
  • 7024 Rockledge Drive Charlotte, NC 5
    • 4 beds 2 baths ∙ 1,797 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,797 Sqft ∙ Built 1965
    property image
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
PROPERTY LISTING DETAILS
John Kurtz
1.704.560.1656
National Real Estate
BESbswy