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9345 Arbor Creek Drive Charlotte, NC 28269

4 Beds 3 Baths 2,207 sqft Built 2018

$315,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $142.73
  • 4 Days on Market
  • MLS # : 3709929
  • Updated Date : 02/19/2021 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,207 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bespoke Realty

Listing Agent's Description

Better than new construction 4 bed, 2.5 bath home with fabulous open floorplan. Kitchen has expansive eat-up island, granite counters, walk-in pantry with wood shelves, stainless steel appliances and white shaker cabinets. Great room has gas fireplace to cozy up to. Main floor has engineered hardwoods. Baths and laundry have tile. Upstairs has luxury vinyl plank throughout. Master suite is an oversized retreat, with large shower, double vanity and walk-in closet with built-in closet system. Secondary bedrooms are nicely sized. Plenty of storage throughout. Back yard is level, completely fenced and has a deck with gorgeous wood pergola. Outbuilding conveys and provides storage for yard equipment, tools and toys. Bentley is a small, private neighborhood of 4 homes with no HOA. Showings will start Saturday, February 20th.

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: Highland Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Highland Creek

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
Parkside Elementary School Primary Regular NA
Ridge Road Middle School Middle Regular 1,285 65 6
Mallard Creek High School High Regular 2,472 123 6

Parkside Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Ridge Road Middle School

  • Education Level: Middle
  • # of students: 1,285
  • # of teachers: 65
6
GreatSchools Rating

Mallard Creek High School

  • Education Level: High
  • # of students: 2,472
  • # of teachers: 123
6
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,094
Property Tax -$275
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
$154

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.

$315,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.9%
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$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$33,829

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,688

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6453$1,7004$1,7105$1,750
$1,750
RENT COMPS ANALYSIS
  • 9345 Arbor Creek Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,207 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,207 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.77
    •  
  • 9328 Arbor Creek Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,133 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,133 Sqft ∙ Built 2000
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.74
    •  
  • 9115 Gaskill Court Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,045 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,045 Sqft ∙ Built 1998
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.80
    •  
  • 10014 Rocky Ford Club Road Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,267 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,267 Sqft ∙ Built 2009
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.75
    •  
  • 10015 Rocky Ford Club Road Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 2010
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.76
    •  
PROPERTY LISTING DETAILS
Courtney Defruscio
1.704.962.2406
Bespoke Realty
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3709929
Last Updated: 02/19/2021
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