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9604 Margrave Drive Gastonia, NC 28056

4 Beds 2 Baths 1,764 sqft Built 2021

$269,990

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $153.06
  • 5 Days on Market
  • MLS # : 3692512
  • Updated Date : 12/23/2020 at 10:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,764 sqft
  • Baths : 2 full
Listing Agent

Dr Horton Inc

Listing Agent's Description

This one-story home features an open living concept with 9 foot ceilings on the first floor. Gorgeous wood laminate flooring throughout the main living areas. Enjoy your open kitchen with granite, a large island with seating for four, tile backsplash, and stainless steel appliances. Come home and relax in your gorgeous master suite. You will never run out of space in the amazing master closet!! Enjoy your backyard your spacious covered porch! This home has all of the amenities you would expect in a BRAND NEW home!

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: Presley

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $81k433k

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

Neighborhood: Presley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500160017001800Rent in $6901854

* 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.a. Bess Elementary School Primary Regular 551 32 8
Cramerton Middle School Middle Regular 833 42 8
Forestview High School High Regular 1,143 63 7

W.a. Bess Elementary School

  • Education Level: Primary
  • # of students: 551
  • # of teachers: 32
8
GreatSchools Rating

Cramerton Middle School

  • Education Level: Middle
  • # of students: 833
  • # of teachers: 42
8
GreatSchools Rating

Forestview High School

  • Education Level: High
  • # of students: 1,143
  • # of teachers: 63
7
GreatSchools Rating
 

$242,991$296,989$269,990

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$996
Property Tax -$174
Property Insurance -$60
HOA -$70
Property Management Fees -$119
CASH FLOW
$91

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$269,990

PROJECTED PRICE

$1,510

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,547

INVESTMENT

$73,547

Down Payment
$67,498
Rehab Estimate
$2,000
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,498
Loan Amount $202,493
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$26,924

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,482

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,348
1$1,3482$1,5103$1,635
$1,635
RENT COMPS ANALYSIS
  • 9604 Margrave Drive Gastonia, NC 2
    • 4 beds 2 baths ∙ 1,764 Sqft ∙ Built 2021 4 beds 2 baths ∙ 1,764 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.86
    •  
  • 211 Valleydale Drive Gastonia, NC 1
    • 4 beds 2 baths ∙ 1,777 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,777 Sqft ∙ Built 1960
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,348
    • $0.76
    •  
  • 2540 Glyncastle Way Gastonia, NC 3
    • 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 2007
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,635
    • $0.92
    •  
PROPERTY LISTING DETAILS
Liza Barroso
1.704.343.1553
Dr Horton Inc
BESbswy