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9810 Steele Meadow Road Charlotte, NC 28273

4 Beds 3 Baths 2,875 sqft Built 2001

$319,900

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $111.27
  • 4 Days on Market
  • MLS # : 3700984
  • Updated Date : 01/21/2021 at 19:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,875 sqft
  • Baths : 2 full , 1 half
Listing Agent

Citywide Group Inc.

Listing Agent's Description

Huge master with 3 large guest bedrooms. New carpet, new flooring. Remodeled. Great location

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Steele Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Steele Creek

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
Berewick Elementary School Primary Regular 601 38 6
Kennedy Middle School Middle Regular 722 43 4
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

Berewick Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 38
6
GreatSchools Rating

Kennedy Middle School

  • Education Level: Middle
  • # of students: 722
  • # of teachers: 43
4
GreatSchools Rating

Math, Engineering, Technology And Science At Olympic High School

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

$287,910$351,890$319,900

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,111
Property Tax -$279
Property Insurance -$81
HOA -$12
Property Management Fees -$119
CASH FLOW
$308

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.

$319,900

PROJECTED PRICE

$1,910

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.0%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$50,223

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $2,092

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9103$2,1004$2,1505$2,195
$2,195
RENT COMPS ANALYSIS
  • 9810 Steele Meadow Road Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,875 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,875 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.66
    •  
  • 7315 Agnew Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,747 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,747 Sqft ∙ Built 2016
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.67
    •  
  • 6124 Rock Island Road Charlotte, NC 3
    • 5 beds 3 baths ∙ 2,898 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,898 Sqft ∙ Built 2016
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.72
    •  
  • 7303 Rupell Drive Charlotte, NC 4
    • 4 beds 4 baths ∙ 2,800 Sqft ∙ Built 4 beds 4 baths ∙ 2,800 Sqft ∙ Built
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.77
    •  
  • 6115 Breckfield Court Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,932 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,932 Sqft ∙ Built 2006
    property image
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.75
    •  
PROPERTY LISTING DETAILS
Juan Guzman
1.980.328.5626
Citywide Group Inc.
BESbswy