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9336 White Aspen Place Charlotte, NC 28269

4 Beds 2 Baths 1,848 sqft Built 2019

$275,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $148.81
  • 2 Days on Market
  • MLS # : 3701494
  • Updated Date : 01/23/2021 at 19:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,848 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

Looking for a brand new home? This is it!!! Rebuilt from the ground up due to fire. Due to be completed February 10, 2021. Open & spacious 4 bedroom, 2 baths floor plan. The main living area offers an open gathering room and breakfast area. The gourmet kitchen features a large island, granite countertops, breakfast bar with a walk-in pantry. Pre-finished wood flooring throughout the home. Situated on a great level lot. Community pool. Convenient to I-77 & I-85, shopping and entertainment

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: Davis Lake - Eastfield

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Davis Lake - Eastfield

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Blythe Elementary School Primary Regular 1,038 67 5
J.m. Alexander Middle School Middle Regular 865 40 4
North Mecklenburg High School High Regular 1,881 101 3

Blythe Elementary School

  • Education Level: Primary
  • # of students: 1,038
  • # of teachers: 67
5
GreatSchools Rating

J.m. Alexander Middle School

  • Education Level: Middle
  • # of students: 865
  • # of teachers: 40
4
GreatSchools Rating

North Mecklenburg High School

  • Education Level: High
  • # of students: 1,881
  • # of teachers: 101
3
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$955
Property Tax -$240
Property Insurance -$62
HOA -$37
Property Management Fees -$119
CASH FLOW
$157

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.

$275,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.3%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$31,345

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,635

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,5054$1,5705$1,850
$1,850
RENT COMPS ANALYSIS
  • 9336 White Aspen Place Charlotte, NC 4
    • 4 beds 2 baths ∙ 1,848 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,848 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.85
    •  
  • 12013 Evergreen Hollow Drive Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1997
    property image
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
  • 9225 White Aspen Place Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2000
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
  • 9026 Sanders Creek Court Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,677 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,677 Sqft ∙ Built 2002
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,505
    • $0.90
    •  
  • 11418 Fox Hill Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,035 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,035 Sqft ∙ Built 1998
    property image
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.91
    •  
PROPERTY LISTING DETAILS
Jane Cross
1.704.608.0228
Keller Williams Ballantyne Area
BESbswy