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9613 Watergate Road Charlotte, NC 28270

3 Beds 2 Baths 1,417 sqft Built 1977

$295,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $208.19
  • 4 Days on Market
  • MLS # : 3719630
  • Updated Date : 03/20/2021 at 12:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,417 sqft
  • Baths : 2 full
Listing Agent

Kindred Realty Llc

Listing Agent's Description

Charming brick ranch home in booming Sardis Woods. Walk to McAlpine Creek Greenway via walking trails within the neighborhood. 3 bedrooms, 2 full baths, .27 acres, and 1400 plus square feet. Wood floors in dining, family room and hallway. Open kitchen with dining space, stainless refrigerator, laundry, and lots of windows. Large private, fenced in backyard with large patio.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sardis Woods

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $110k318k

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

Neighborhood: Sardis Woods

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Greenway Park Elementary School Primary Regular 605 38 3
Mcclintock Middle School Middle Regular 855 55 3
East Mecklenburg High School High Regular 1,840 111 6

Greenway Park Elementary School

  • Education Level: Primary
  • # of students: 605
  • # of teachers: 38
3
GreatSchools Rating

Mcclintock Middle School

  • Education Level: Middle
  • # of students: 855
  • # of teachers: 55
3
GreatSchools Rating

East Mecklenburg High School

  • Education Level: High
  • # of students: 1,840
  • # of teachers: 111
6
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$1,025
Property Tax -$257
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$5

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.

$295,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.9%
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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$17,863

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,346

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,4503$1,4504$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 9613 Watergate Road Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,417 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,417 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.02
    •  
  • 7726 Surreywood Place Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1973
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.91
    •  
  • 6432 Tivoli Court Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1985
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.96
    •  
  • 6221 Round Hill Road Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1986
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.97
    •  
  • 7609 Winterset Drive Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1976
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
PROPERTY LISTING DETAILS
Anne Monsted
1.704.968.0379
Kindred Realty Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3719630
Last Updated: 03/20/2021
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