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9730 Harris Glen Drive Charlotte, NC 28269

3 Beds 3 Baths 1,798 sqft Built 1992

$259,999

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $144.60
  • 4 Days on Market
  • MLS # : 3696231
  • Updated Date : 01/09/2021 at 09:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,798 sqft
  • Baths : 2 full , 1 half
Listing Agent

America's Real Estate Group Inc

Listing Agent's Description

Welcome Home!! Wonderful Davis Lake Community with access to walking trails, lake, fitness center, pools, tennis court, club house, and playground. This beautifully updated home has it all!! Elegant vinyl plank floors, neutral color pain, gourmet kitchen with granite countertops and black appliances. Open Floorplan to formal dinning, kitchen, breakfast and great room featuring a cozy fireplace and French doors to a two level deck and a large backyard, leveled and private perfect for family time and entertainment. Large 3 bedrooms and laundry upstairs. Cathedral ceilings in master suite, with ample walk-in closet and master bath with garden tub and stand-up shower. Conveniently located near highways, restaurants, shopping and entertainment.

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: Davis Lake - Eastfield

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Davis Lake - Eastfield

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
Croft Community School Primary Regular 644 35 NA
J.m. Alexander Middle School Middle Regular 865 40 4
North Mecklenburg High School High Regular 1,881 101 3

Croft Community School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 35
NA
GreatSchools Rating

J.m. Alexander Middle School

  • Education Level: Middle
  • # of students: 865
  • # of teachers: 40
4
GreatSchools Rating

North Mecklenburg High School

  • Education Level: High
  • # of students: 1,881
  • # of teachers: 101
3
GreatSchools Rating
 

$233,999$285,999$259,999

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$903
Property Tax -$227
Property Insurance -$61
HOA -$62
Property Management Fees -$119
CASH FLOW
$168

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.

$259,999

PROJECTED PRICE

$1,540

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.3%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $194,999
See What Happens When You Reinvest Cash Flow

8.75

YEARS SAVED

$31,099

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,533

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4503$1,4954$1,5005$1,540
$1,540
RENT COMPS ANALYSIS
  • 9730 Harris Glen Drive Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.86
    •  
  • 8413 Cleve Brown Road Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,683 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,683 Sqft ∙ Built 2003
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.85
    •  
  • 8425 Newfane Road Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2005
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
  • 4902 Windchase Lane Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1998
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.90
    •  
  • 9522 Saddle Run Trail Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,849 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,849 Sqft ∙ Built 1991
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.81
    •  
PROPERTY LISTING DETAILS
Cecilia Carbajal
1.704.519.9199
America's Real Estate Group Inc
BESbswy