
North Carolina
This property is in the Charlotte NC market. We were able to secure it and renovate, adding a signed lease for occupancy before the property was even finished. Take a look at the before/after pictures below, as well as the rehab scope of work & the investor figures at the very bottom!
Street View


Kitchen


Bathroom


Rehab Scope of Work
- Electrical rewiring (light fixtures, washing machine, smoke detectors)
- Tile backsplash
- Pain all interior
- Pain exterior
- New doors
- Re-attach and repair HVAC exhaust vent
- Repair siding & wood exterior
- Re-key
- Downspout & extender installation
- Replace 27 shingles on roof
- Repair crawlspace ventilation
- Clean & repair carpets
- New landscaping
1 year performance projection
Square Feet | 1,179 |
Market Value | $120,000 |
Purchase Price | $120,000 |
Downpayment | $24,000 |
Closing Costs & Fees | $3,000 |
Initial Cash Invested | $24,600 |
Cost Per Square Foot | $102 |
Monthly Rent Per S/F | $0.84 |
Concession/Seller Credit | $2,400 |
Income | Monthly | Annual |
Gross Rent (range 995-1050) | $995 | $11,940 |
Vacancy Losses (Estimate) | -$80 | -$955 |
Operating Income | $915 | $10,985 |
Expenses | Monthly | Annual |
Mortgage Payment | -$560.23 | -$6,722.76 |
Property Taxes | -$60 | -$720 |
Insurance | -$78 | -$936 |
Management | $80 | $955 |
Maintenance (Estimate) | $0 | $0 |
Operating Expenses | -$619 | -$7,424 |
Net Performance (Day 1) | Monthly | Annual |
Net Operating Income | $297 | $3,561 |
Debt Paydown | $100 | $1,203 |
Total Return | $397 | $4,764 |
Concession | $2,400 |
Cash Return (Actual Year 1) | 28.12% |
Cash Return (Estimated w/ Vacancy) | 24.23% |
Cash Return (Year Over Year) | 18.36% |
Mortgage Info
Loan-to-Value Ratio | 80% |
Loan Amount | $96,000 |
Monthly Payment | -$560.23 |
Ammortization Months | 360 |
Loan Term | 30 |
Interest Rate | 5.75% |
Assumptions
Appreciation Rate | 5% |
Vacancy Rate | 8% |
Maintenance Rate | 0% |
5yr Value | $150,000 |
Profit If Sold | $53,820 |
Included
1 Yr Maintenance Warranty | $500 |

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