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9412 Rosalyn Glen Road Cornelius, NC 28031

4 Beds 3 Baths 3,003 sqft Built 2005

$475,000

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $158.18
  • 4 Days on Market
  • MLS # : 3717325
  • Updated Date : 03/13/2021 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,003 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group Select

Listing Agent's Description

Charming 4 bedroom, 2.5 bathroom home with a rocking chair front porch, office, upstairs bonus & 3 car garage in highly desirable tree lined Westmoreland community. Perfect location near Ramsey Creek and Jetton park, shopping, entertainment, new restaurants, Lake Norman & countless public boat launches. This home has endless southern charm w/ a first floor office w/ french glass doors, dining room w/ crown molding, open layout kitchen & family room w/ corner gas fireplace, powder room, large laundry/mud room & hardwoods in main living areas on first floor. You will fall in love with the upstairs loft as well as the 4 bedrooms (including an oversized master with sitting area) & 2 full bathrooms. Tons of storage & closets. Incredible location in community across the street from green park area. Fenced backyard oasis near neighborhood pool and playground. Freshly refinished & painted back deck & landscaping. Amenities include a pool w/ clubhouse, playground & common areas w/ benches.

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: Westmoreland

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $118k354k

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

Neighborhood: Westmoreland

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8441937

* 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
J.v. Washam Elementary School Primary Regular 992 49 8
Bailey Middle School Middle Regular 1,616 77 9
William Amos Hough High School High Regular 2,453 120 8

J.v. Washam Elementary School

  • Education Level: Primary
  • # of students: 992
  • # of teachers: 49
8
GreatSchools Rating

Bailey Middle School

  • Education Level: Middle
  • # of students: 1,616
  • # of teachers: 77
9
GreatSchools Rating

William Amos Hough High School

  • Education Level: High
  • # of students: 2,453
  • # of teachers: 120
8
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$1,650
Property Tax -$350
Property Insurance -$84
HOA -$53
Property Management Fees -$119
CASH FLOW
$125

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.

$475,000

PROJECTED PRICE

$2,380

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.4%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$40,706

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,590

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,380
1$2,3802$2,5003$2,6954$2,7505$2,750
$2,750
RENT COMPS ANALYSIS
  • 9412 Rosalyn Glen Road Cornelius, NC 1
    • 4 beds 3 baths ∙ 3,003 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,003 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $0.79
    •  
  • 8923 Magnolia Estates Drive Cornelius, NC 2
    • 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 1996
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.91
    •  
  • 19730 Charles Towne Lane Cornelius, NC 3
    • 4 beds 3 baths ∙ 3,275 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,275 Sqft ∙ Built 2002
    property image
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.82
    •  
  • 21221 Harken Drive Cornelius, NC 4
    • 4 beds 3 baths ∙ 3,254 Sqft ∙ Built 1994 4 beds 3 baths ∙ 3,254 Sqft ∙ Built 1994
    property image
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.85
    •  
  • 18615 The Commons Boulevard Cornelius, NC 5
    • 4 beds 4 baths ∙ 3,051 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,051 Sqft ∙ Built 2003
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.90
    •  
PROPERTY LISTING DETAILS
Lauren Knerl
1.704.579.1646
Realty One Group Select
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3717325
Last Updated: 03/13/2021
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