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9631 Loughlin Lane #L63 Charlotte, NC 28273

4 Beds 3 Baths 2,826 sqft Built 2011

$335,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $118.54
  • 8 Days on Market
  • MLS # : 3679446
  • Updated Date : 12/04/2020 at 07:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,826 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Fort Mill

Listing Agent's Description

One owner charming 2-story freshly painted home in Kingsbridge in the sought-after Steele Creek community. Lovely stone and brick accents on exterior. Great open floor-plan! As you enter the home you are welcomed by gleaming hardwood floors that lead through the open, 2-story foyer, formal dining room, kitchen, half bath, and dining area situated at rear of home for tons of natural light and great views of the large backyard. Kitchen features granite counters, tons of upgraded cabinets and eat in bar. Large great room off kitchen is anchored by gas fireplace and perfect for entertaining. Beautiful large dining/living room at front of home. Large master suite downstairs with tray ceiling, large walk-in closet, large shower, garden tub and dual vanities. All secondary bedrooms are good size and bonus/bedroom is super big with access to tons of storage via a full size attic door! The kitchen has lots of cabinets! You will love the flow of this open floor plan.

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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: Yorkshire

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $103k318k

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

Neighborhood: Yorkshire

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
River Gate Elementary School Primary Regular 828 44 7
Southwest Middle School Middle Regular 1,403 72 6
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

River Gate Elementary School

  • Education Level: Primary
  • # of students: 828
  • # of teachers: 44
7
GreatSchools Rating

Southwest Middle School

  • Education Level: Middle
  • # of students: 1,403
  • # of teachers: 72
6
GreatSchools Rating

Math, Engineering, Technology And Science At Olympic High School

  • Education Level: High
  • # of students: 607
  • # of teachers: 28
7
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,236
Property Tax -$299
Property Insurance -$80
HOA -$48
Property Management Fees -$119
CASH FLOW
$137

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.

$335,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.2%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$38,747

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,006

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8753$1,9204$1,9955$2,345
$2,345
RENT COMPS ANALYSIS
  • 9631 Loughlin Lane Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,826 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,826 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.68
    •  
  • 14216 King Eider Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,517 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,517 Sqft ∙ Built 1989
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.71
    •  
  • 9730 Loughlin Lane Charlotte, NC 2
    • 5 beds 3 baths ∙ 2,816 Sqft ∙ Built 2009 5 beds 3 baths ∙ 2,816 Sqft ∙ Built 2009
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.67
    •  
  • 14712 Vaughan Drive Charlotte, NC 4
    • 4 beds 4 baths ∙ 2,786 Sqft ∙ Built 2010 4 beds 4 baths ∙ 2,786 Sqft ∙ Built 2010
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.72
    •  
  • 11402 Scottsman Trace Drive Charlotte, NC 5
    • 5 beds 4 baths ∙ 3,153 Sqft ∙ Built 2010 5 beds 4 baths ∙ 3,153 Sqft ∙ Built 2010
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,345
    • $0.74
    •  
PROPERTY LISTING DETAILS
Terri Young
1.980.202.1769
Keller Williams Fort Mill
BESbswy