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9443 Grand Oaks Street Concord, NC 28027

4 Beds 3 Baths 2,048 sqft Built 2004

$300,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $146.48
  • 4 Days on Market
  • MLS # : 3705219
  • Updated Date : 02/06/2021 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,048 sqft
  • Baths : 2 full , 1 half
Listing Agent

Giving Tree Realty

Listing Agent's Description

Beautiful home in desirable neighborhood of Moss Creek with extended back patio and attention to detail. This will go quick! The living space includes a gas fire place and is open to the kitchen. A separate dining room off the kitchen makes entertaining easy. The laundry room and storage downstairs keeps everything tidy. The use of space is well thought out. The sliding glass doors lead to a fenced in back yard with extended patio and gazebo that will convey. All bedrooms are upstairs. The owner's suite is spacious with enough room for a large bed and sitting area. Double doors lead to the gorgeous bath with separate garden tub and walk-in shower. The walk-in closet is through the bath. Three other large bedrooms give plenty of space for family or guests. Carpets are fresh and clean. Walls have been painted. There are no signs of wear and tear.

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: Moss Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Moss Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8401874

* 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
W R Odell Elementary School Primary Regular 882 52 NA
Harris Road Middle School Middle Regular 1,185 63 9
Cox Mill High School High Regular 1,478 76 7

W R Odell Elementary School

  • Education Level: Primary
  • # of students: 882
  • # of teachers: 52
NA
GreatSchools Rating

Harris Road Middle School

  • Education Level: Middle
  • # of students: 1,185
  • # of teachers: 63
9
GreatSchools Rating

Cox Mill High School

  • Education Level: High
  • # of students: 1,478
  • # of teachers: 76
7
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,042
Property Tax -$331
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
-$7

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.

$300,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.5%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$16,979

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,577

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5503$1,7504$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 9443 Grand Oaks Street Concord, NC 2
    • 4 beds 3 baths ∙ 2,048 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,048 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.76
    •  
  • 1451 Duckhorn Street Nw Concord, NC 1
    • 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 2004
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.73
    •  
  • 1461 Astoria Lane Concord, NC 3
    • 3 beds 3 baths ∙ 2,268 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,268 Sqft ∙ Built 2007
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.77
    •  
  • 9615 Marquette Street Nw Concord, NC 4
    • 3 beds 3 baths ∙ 2,374 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,374 Sqft ∙ Built 2005
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.76
    •  
  • 9655 Widespread Avenue Nw Concord, NC 5
    • 4 beds 3 baths ∙ 2,201 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,201 Sqft ∙ Built 2005
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.84
    •  
PROPERTY LISTING DETAILS
Mary Page Haslett
1.980.298.3791
Giving Tree Realty
BESbswy