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9426 Arcola Lane Charlotte, NC 28277

3 Beds 3 Baths 2,227 sqft Built 2002

$384,900

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $172.83
  • 21 Days on Market
  • MLS # : 3693847
  • Updated Date : 02/13/2021 at 15:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,227 sqft
  • Baths : 3 full
Listing Agent

Keller Williams South Park

Listing Agent's Description

Welcome Home to popular Ashton Grove community with maintained lawncare included in HOA. Welcoming entry boasts 2-story foyer & lots of natural light! This home features 2 bedrooms on the main floor including spacious master suite w/ trey ceiling and walk in closet. Inviting master bath includes walk-in shower + dual sinks. Open kitchen w/ stainless appliances, plenty of counter space & room to entertain. Kitchen is open to breakfast area, family room with vaulted ceiling + gas fireplace and sliding doors to sunroom. Extended patio + flat backyard. Screened porch provides lots of privacy & a welcoming place to take in a good book or have your morning coffee. Lots of storage throughout the home. Guests won't leave with ideal space upstairs featuring large 3rd bedroom, full bath, walk in closet and rec/bonus room. 2 car garage. This beauty is nestled close to all the delicious eateries/shopping that Blakeney, Stonecrest & Waverly have to offer. Move-in ready, don't miss this one!

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: Provincetowne

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $116k363k

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

Neighborhood: Provincetowne

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8442138

* 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
Hawk Ridge Elementary School Primary Regular 881 49 9
Community House Middle School Middle Regular 1,750 81 9
Ardrey Kell High School High Regular 2,701 127 9

Hawk Ridge Elementary School

  • Education Level: Primary
  • # of students: 881
  • # of teachers: 49
9
GreatSchools Rating

Community House Middle School

  • Education Level: Middle
  • # of students: 1,750
  • # of teachers: 81
9
GreatSchools Rating

Ardrey Kell High School

  • Education Level: High
  • # of students: 2,701
  • # of teachers: 127
9
GreatSchools Rating
 

$346,410$423,390$384,900

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,337
Property Tax -$365
Property Insurance -$69
HOA -$97
Property Management Fees -$119
CASH FLOW
-$37

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.

$384,900

PROJECTED PRICE

$1,950

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.4%
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

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,749

INVESTMENT

$107,749

Down Payment
$96,225
Rehab Estimate
$5,750
Closing Costs
$5,774

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,225
Loan Amount $288,675
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$19,069

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,038

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,849
1$1,8492$1,9503$1,9954$2,1505$2,150
$2,150
RENT COMPS ANALYSIS
  • 9426 Arcola Lane Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,227 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,227 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.88
    •  
  • 7117 Felicity Court Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 2003
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,849
    • $0.84
    •  
  • 11714 Borchetta Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,140 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,140 Sqft ∙ Built 1998
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.93
    •  
  • 9448 Willow Tree Lane Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,161 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,161 Sqft ∙ Built 2000
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.99
    •  
  • 8710 Darcy Hopkins Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2002
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.90
    •  
PROPERTY LISTING DETAILS
Kristen Bernard
1.704.300.0855
Keller Williams South Park
BESbswy