Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

9936 Barrands Lane Charlotte, NC 28278

5 Beds 3 Baths 2,354 sqft Built 2006

$315,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $133.81
  • 12 Days on Market
  • MLS # : 3691205
  • Updated Date : 12/31/2020 at 14:46
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,354 sqft
  • Baths : 3 full
Listing Agent

First Properties Of The Carolinas Inc

Listing Agent's Description

This spacious home is located on a quiet, cul-de-sac street in popular Berewick. Relax on the covered front porch overlooking grassy common area. Open floor plan with beautiful HWs in foyer, dining, kitchen, and breakfast nook. Kitchen has good prep space, tall cabinetry w/ crown, pantry, smooth cooktop range, Corian countertops, & tile backsplash. Convenient 1st floor guest bdrm/full bath, also makes a great home office. HUGE Owners Suite up w/ sitting area, tray ceiling, garden tub, sep shower, tall dual sink vanity & room-sized WIC. Three large secondary bedrooms + laundry room on 2nd level. Freshly painted neutral interior, smooth ceilings, upgraded light fixtures. Ready for you to move right in! Crown and picture molding in the dining room. Fenced yard is perfect for pets. Enjoy all the great amenities in Berewick, plus close proximity to Lake Wylie, Charlotte Premium Outlets, and interstates. Welcome home!

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: Berewick

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Berewick

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8441914

* 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
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,162
Property Tax -$276
Property Insurance -$71
HOA -$67
Property Management Fees -$119
CASH FLOW
$264

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.

$315,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.0%
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

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

9.83

YEARS SAVED

$51,990

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,771

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7754$1,9605$2,045
$2,045
RENT COMPS ANALYSIS
  • 9936 Barrands Lane Charlotte, NC 4
    • 5 beds 3 baths ∙ 2,354 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,354 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.83
    •  
  • 10705 Mountain Springs Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,273 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,273 Sqft ∙ Built 2004
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.73
    •  
  • 6432 Hermsley Road Charlotte, NC 2
    • 5 beds 3 baths ∙ 2,424 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,424 Sqft ∙ Built 2007
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.70
    •  
  • 10631 Bedlington Road Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 2007
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.70
    •  
  • 6524 Hermsley Road Charlotte, NC 5
    • 5 beds 3 baths ∙ 2,398 Sqft ∙ Built 2008 5 beds 3 baths ∙ 2,398 Sqft ∙ Built 2008
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $0.85
    •  
PROPERTY LISTING DETAILS
Karen Glenn
1.704.996.8804
First Properties Of The Carolinas Inc
BESbswy