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9853 Shearwater Avenue Concord, NC 28027

6 Beds 3 Baths 3,720 sqft Built 2012

$449,900

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $120.94
  • 3 Days on Market
  • MLS # : 3712427
  • Updated Date : 02/27/2021 at 19:20
CONSTRUCTION
  • Beds : 6
  • Floor Size : 3,720 sqft
  • Baths : 3 full
Listing Agent

The Clark Group Real Estate Service Llc

Listing Agent's Description

Former Cannon Crossing Model Home with beautiful features & upgrades throughout. Interior upgrades include Plantation Shutters Throughout Home ($10,000), Custom Neutral Window Treatments ($12,000), OnQ Structured Wiring Panel, Built-in Surround Sound Speaker System throughout downstairs, bonus room & master bedroom. Exterior upgrades-$30K Landscaping Package, including zoned irrigation, timed landscape lighting around home & stone fire pit, paver patio with brick and stone. Main level office with french doors, a guest bedroom with adjoining full bath, formal dining, gourmet kitchen with a large island opening to a morning room, and inviting family room. Upstairs features master suite with french doors & tray ceiling, gentlemen height vanities in master bath,4 additional bedrooms including the bonus/bed room. HVAC with 3 zones. Garage includes an 8-foot door, recessed lighting, abundant electrical, cable and CAT5 outlets, side-entry exterior door, and adjustable overhead storage racks.

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: Cannon Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $118k408k

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

Neighborhood: Cannon Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200Rent in $8402309

* 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
W R Odell Elementary School Primary Regular 882 52 NA
Harris Road Middle School Middle Regular 1,185 63 9
Cox Mill High School High Regular 1,478 76 7

W R Odell Elementary School

  • Education Level: Primary
  • # of students: 882
  • # of teachers: 52
NA
GreatSchools Rating

Harris Road Middle School

  • Education Level: Middle
  • # of students: 1,185
  • # of teachers: 63
9
GreatSchools Rating

Cox Mill High School

  • Education Level: High
  • # of students: 1,478
  • # of teachers: 76
7
GreatSchools Rating
 

$404,910$494,890$449,900

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,563
Property Tax -$520
Property Insurance -$97
Property Management Fees -$119
CASH FLOW
$31

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.

$449,900

PROJECTED PRICE

$2,330

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 3.6%
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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$28,279

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $2,399

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,3303$2,600
$2,600
RENT COMPS ANALYSIS
  • 9853 Shearwater Avenue Concord, NC 2
    • 6 beds 3 baths ∙ 3,720 Sqft ∙ Built 2012 6 beds 3 baths ∙ 3,720 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.63
    •  
  • 10685 Skipping Rock Lane Nw Concord, NC 1
    • 6 beds 5 baths ∙ 3,440 Sqft ∙ Built 2015 6 beds 5 baths ∙ 3,440 Sqft ∙ Built 2015
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.60
    •  
  • 9887 Fern Dancer Court Concord, NC 3
    • 5 beds 3 baths ∙ 3,783 Sqft ∙ Built 2009 5 beds 3 baths ∙ 3,783 Sqft ∙ Built 2009
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.69
    •  
PROPERTY LISTING DETAILS
Kelly Clark
1.704.791.4701
The Clark Group Real Estate Service Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3712427
Last Updated: 02/27/2021
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