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9905 Chimney Corner Court Charlotte, NC 28210

4 Beds 3 Baths 2,209 sqft Built 1989

INVESTimate

$399,900

List Price

$2,050

$1,845 - $2,255

Rent Est.

$413,657  ( +3.44%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $181.03
  • 5 Days on Market
  • MLS # : 3654505
  • Updated Date : 08/25/2020 at 13:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,209 sqft
  • Baths : 2 full , 1 half
Listing Agent

Showcase Realty Llc

Listing Agent's Description

Private ranch home on a level, wooded, cul-de-sac lot in popular Cameron Wood. Upgraded fiber cement siding, upgraded flooring throughout main level except Master bedroom, main level Master with walk in closet with custom organizers and huge walk in shower. Enter through 2 story foyer to the spacious and open great room with vaulted ceiling and masonry fireplace with brick surround. Upstairs has larger 2 secondary bedrooms with walk-in closets and 4th BR could be a bonus room with walk in attic access. Entire interior (except foyer) painted Neutral paint 2019 and carpet 2019, encapsulated crawl space with dehumidifier, etc. Heat pump replaced 2018. Architectural roof only 7 years old. High end insulation for attic and crawl. Lot goes past fence. Irrigation with 3 levels front, sides and rear. Huge walk in attic great for storage. Relax in your large screen porch overlooking private and fenced wooded rear yard. Transferable warranties on roof, termite bond, siding and gutter guards.

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: Seven Eagles

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $116k420k

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

Neighborhood: Seven Eagles

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8442165

* 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
Smithfield Elementary School Primary Regular 646 44 6
Quail Hollow Middle School Middle Regular 946 51 3
South Mecklenburg High School High Regular 2,913 147 7

Smithfield Elementary School

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 44
6
GreatSchools Rating

Quail Hollow Middle School

  • Education Level: Middle
  • # of students: 946
  • # of teachers: 51
3
GreatSchools Rating

South Mecklenburg High School

  • Education Level: High
  • # of students: 2,913
  • # of teachers: 147
7
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,475
Property Tax -$373
Property Insurance -$69
HOA -$25
Property Management Fees -$185
CASH FLOW
-$77

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.

$399,900

PROJECTED PRICE

$2,050

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 3.44%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$16,714

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,111

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9503$2,0504$2,2005$2,495
$2,495
RENT COMPS ANALYSIS
  • 9905 Chimney Corner Court Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,216 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,216 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.93
    •  
  • 3229 Silver Pond Court Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 1989
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.92
    •  
  • 9104 Cameron Wood Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,279 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,279 Sqft ∙ Built 1991
    property image
    LEASED 03/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.86
    •  
  • 2939 Notchview Court Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,238 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,238 Sqft ∙ Built 1991
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.98
    •  
  • 5733 Connor Boulevard Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 1978
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.05
    •  
PROPERTY LISTING DETAILS
Nancy Braun
1.704.997.3794
Showcase Realty Llc
BESbswy