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9812 Rocky Ford Club Road Charlotte, NC 28269

4 Beds 3 Baths 2,248 sqft Built 2009

$289,900

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $128.96
  • 4 Days on Market
  • MLS # : 3709667
  • Updated Date : 02/19/2021 at 00:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,248 sqft
  • Baths : 2 full , 1 half
Listing Agent

Prostead Realty

Listing Agent's Description

Charming home conveniently located near I-485 in the Prosperity Ridge community! Welcoming cozy front porch leads to entrance into Living Room or Office space. Open Kitchen with beautiful painted cabinets, generous cabinets and countertop space, large peninsula/ breakfast bar, plus pantry. Spacious family room and dining area. Wide staircase leads to the upper level and nice wall niche perfect for desk or furniture piece. Large walk in laundry room upstairs. Gracious master suite with private bathroom, dual sinks, huge garden tub, shower and large walk-in closet with custom built ins. All additional bedrooms are generous in size and have large closets. Enjoy the large level backyard with rear patio area, detached covered pergola sold as is and fire pit which backs up to wooded common area, perfect for entertaining. Washer, Dryer and Refrigerator included

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: Highland Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Highland 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
Parkside Elementary School Primary Regular NA
Ridge Road Middle School Middle Regular 1,285 65 6
Mallard Creek High School High Regular 2,472 123 6

Parkside Elementary School

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

Ridge Road Middle School

  • Education Level: Middle
  • # of students: 1,285
  • # of teachers: 65
6
GreatSchools Rating

Mallard Creek High School

  • Education Level: High
  • # of students: 2,472
  • # of teachers: 123
6
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,007
Property Tax -$261
Property Insurance -$69
HOA -$36
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.

$289,900

PROJECTED PRICE

$1,660

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.9%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$33,070

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,703

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,660
1$1,6602$1,7003$1,7504$1,7955$1,845
$1,845
RENT COMPS ANALYSIS
  • 9812 Rocky Ford Club Road Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.74
    •  
  • 10014 Rocky Ford Club Road Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,267 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,267 Sqft ∙ Built 2009
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.75
    •  
  • 10015 Rocky Ford Club Road Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 2010
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.76
    •  
  • 6619 Ridgeview Commons Drive Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 2007
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.76
    •  
  • 6211 Ash Cove Lane Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 1992
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.76
    •  
PROPERTY LISTING DETAILS
Emily Huffstetler
1.704.219.1765
Prostead Realty
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3709667
Last Updated: 02/19/2021
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