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5503 Fulton Ridge Drive 
Indian Trail, NC
28079
4 Beds 3 Baths 2,580 sqft
Built 2003
INVESTimate
$300,000
List Price
$85,250
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PROPERTY INFO
FACTS
- Built In 2003
- Price/Sqft : $116.28
- 15 Days on Market
- MLS # : 3649903
- Updated Date : 08/25/2020 at 18:07
CONSTRUCTION
- Beds : 4
- Floor Size : 2,580 sqft
- Baths : 2 full , 1 half
Listing Agent
Better Homes And Gardens Real Estate Paracle
Listing Agent's Description
Drive up to your new home and enjoy brand new professional landscaping! Walk through the front door to a wide open 2-story foyer embellished in new hardwood floors throughout (2019). You'll also find a formal dining and living room to each side of the foyer. A private office on the main level is great for working from home. Get cozy in the spacious 2-story family room perfect for entertaining as it is open to the chef's kitchen which features granite countertops, custom backsplash, an oversized island, and cabinets galore. Step out back to a bright and cheery sunroom and enjoy some of Carolina's best sunsets from your own backyard. Upstairs is an incredibly spacious owner's suite complete with deep tray ceilings. The master bath boasts granite countertops, dual vanity sinks, a stand-up shower, and garden tub. Upstairs you will also find the convenience of the laundry room and 3 additional bedrooms. Moments away from Sun Valley, this home benefits from LOW Union County taxes only!
SEE MORE
- 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
Zip Code: 28079
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28079
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,620 |
| EXPENSES | Loan Payment | -$1,107 |
| Property Tax | -$196 | |
| Property Insurance | -$76 | |
| HOA | -$54 | |
| Property Management Fees | -$146 | |
|
CASH FLOW
$41
|
||
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.
$300,000
PROJECTED PRICE
$1,620
PROJECTED RENT
0.54%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 6.34% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$85,250
LOAN DETAILS
$1,107
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $75,000 |
| Loan Amount | $225,000 |
5.5
YEARS SAVED
$21,465
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,620
LIST RENT -
$0.63
LIST RENT PER SQFT
-
$1,780
COMP ESTIMATED VALUE -
$0.69
COMP AVG. RENT PER SQFT
Comps Range
-
5503 Fulton Ridge Drive Indian Trail, NC 1
- 4 beds 3 baths ∙ 2,580 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,580 Sqft ∙ Built 2003
- Rent
- Rent Per SQFT
- $1,620
- $0.63
-
5817 Lindley Crescent Drive Indian Trail, NC 2
- 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 2005
LEASED 12/12/19- Rent
- Rent Per SQFT
- $1,645
- $0.65
-
5908 Lindley Crescent Drive Indian Trail, NC 3
- 4 beds 3 baths ∙ 2,506 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,506 Sqft ∙ Built 2005
LEASED 12/19/19- Rent
- Rent Per SQFT
- $1,695
- $0.68
-
2005 Brook Valley Run Monroe, NC 4
- 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 2003
LEASED 04/01/20- Rent
- Rent Per SQFT
- $1,750
- $0.70
-
1001 Marcell Lane Indian Trail, NC 5
- 5 beds 3 baths ∙ 2,660 Sqft ∙ Built 2008 5 beds 3 baths ∙ 2,660 Sqft ∙ Built 2008
LEASED 01/13/20- Rent
- Rent Per SQFT
- $1,950
- $0.73
PROPERTY LISTING DETAILS
1.803.280.3833
Better Homes And Gardens Real Estate Paracle
