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PROPERTY INFO
FACTS
- Single Family
- Built In 1990
- Price/Sqft : $127.42
- 7 Days on Market
- MLS # : 3708729
- Updated Date : 02/20/2021 at 00:05
CONSTRUCTION
- Beds : 4
- Floor Size : 2,589 sqft
- Baths : 2 full , 1 half
Listing Agent
Realty One Group Select
Listing Agent's Description
Beautiful place to call HOME! Easy access to Charlotte, hwy 77, 85, 485, UNCC. In the thought-out Winchester neighborhood in cul-de-sac with easy access to amenities that include entrance to Clarks Creek Greenway. 4 bedrooms w/ 2.5 baths, upgraded kitchen with island, Corinthian counter tops, SS appliances, crown molding on main floor, gas logs fireplace, extended master w/ HEATED FLOORS and over extended shower in master bath. LARGE SCREENED IN PORCH over looking fenced and private backyard. IRRIGATION SYSTEM, workshop in garage and shed on back. Fridge, washer and dryer to stay. Large area for storage in crawl space. Large neighborhood pool, tennis courts, playground and walking trails. This home has it all. Come see it before its gone!
SEE MORE
- 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: Prosperity Church Road
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Prosperity Church Road
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,840 |
| EXPENSES | Loan Payment | -$1,146 |
| Property Tax | -$305 | |
| Property Insurance | -$76 | |
| HOA | -$50 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$144
|
||
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.
$329,900
PROJECTED PRICE
$1,840
PROJECTED RENT
0.56%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 6.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$93,174
LOAN DETAILS
$1,146
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $82,475 |
| Loan Amount | $247,425 |
7.67
YEARS SAVED
$32,536
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,840
LIST RENT -
$0.71
LIST RENT PER SQFT
-
$1,955
COMP ESTIMATED VALUE -
$0.76
COMP AVG. RENT PER SQFT
Comps Range
-
9600 Runswyck Court Charlotte, NC 3
- 4 beds 3 baths ∙ 2,589 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,589 Sqft ∙ Built 1990
![property image]()
- Rent
- Rent Per SQFT
- $1,840
- $0.71
-
10202 Fairbourne Court Charlotte, NC 1
- 4 beds 3 baths ∙ 2,568 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,568 Sqft ∙ Built 1999
![property image]()
LEASED 05/14/20- Rent
- Rent Per SQFT
- $1,750
- $0.68
-
4221 Saxonbury Way Charlotte, NC 2
- 4 beds 3 baths ∙ 2,321 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,321 Sqft ∙ Built 1987
![property image]()
LEASED 05/25/20- Rent
- Rent Per SQFT
- $1,750
- $0.75
-
10761 Tradition View Drive Charlotte, NC 4
- 4 beds 3 baths ∙ 2,678 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,678 Sqft ∙ Built 1999
![property image]()
LEASED 12/16/20- Rent
- Rent Per SQFT
- $2,100
- $0.78
-
4137 Silvermere Way Charlotte, NC 5
- 5 beds 3 baths ∙ 2,635 Sqft ∙ Built 1991 5 beds 3 baths ∙ 2,635 Sqft ∙ Built 1991
![property image]()
LEASED 10/08/20- Rent
- Rent Per SQFT
- $2,130
- $0.81
PROPERTY LISTING DETAILS
1.704.907.6907
Realty One Group Select
MLS #: 3708729
Last Updated: 02/20/2021
