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96 Stonecrest Circle Concord, NC 28027

3 Beds 2 Baths 1,250 sqft Built 1950

$220,000

List Price

$1,200

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1950
  • Price/Sqft : $176.00
  • 3 Days on Market
  • MLS # : 3686941
  • Updated Date : 11/27/2020 at 14:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,250 sqft
  • Baths : 1 full , 1 half
Listing Agent

Team Thomas & Associates Realty Inc.

Listing Agent's Description

HONEY STOP THE CAR! This beautifully renovated maintained home offers a 3 bedroom, 2 bath, split floor plan. The "Center" of the home is perfect for entertaining and the "wall of windows" overlooks the huge yard. Neutral wall color, tile floors, granite in spacious kitchen and a amazing bathroom. Enjoy the spacious deck, extended driveway, 2 car carport, fenced backyard, NO HOA, 2019 roof and .41 AC

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: Whitehall

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200kPrice in $54k216k

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

Neighborhood: Whitehall

NeighborhoodNIR Market*CityMarket2010Year20002019 Q26007008009001000110012001300Rent in $5631375

* 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
Wolf Meadow Elementary School Primary Regular 594 42 3
Central Cabarrus High School High Regular 1,416 88 4

Wolf Meadow Elementary School

  • Education Level: Primary
  • # of students: 594
  • # of teachers: 42
3
GreatSchools Rating

Central Cabarrus High School

  • Education Level: High
  • # of students: 1,416
  • # of teachers: 88
4
GreatSchools Rating
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,080$1,320$1,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,200
EXPENSES Loan Payment -$812
Property Tax -$232
Property Insurance -$51
Property Management Fees -$108
CASH FLOW
-$3

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.

$220,000

PROJECTED PRICE

$1,200

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$10,044

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,200

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,200

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2753$1,2994$1,3255$1,350
$1,350
RENT COMPS ANALYSIS
  • 96 Stonecrest Circle Concord, NC 1
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1950
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.96
    •  
  • 2875 Rockingham Court Concord, NC 2
    • 3 beds 2 baths ∙ 1,273 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,273 Sqft ∙ Built 2000
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $1.00
    •  
  • 2872 Rockingham Court Sw Concord, NC 3
    • 3 beds 3 baths ∙ 1,396 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,396 Sqft ∙ Built 1999
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.93
    •  
  • 2985 Champion Lane Concord, NC 4
    • 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 1999
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.95
    •  
  • 3084 Parade Lane Concord, NC 5
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1997
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.96
    •  
PROPERTY LISTING DETAILS
Leslie Harrison
1.704.402.9785
Team Thomas & Associates Realty Inc.
BESbswy