Mallard Lake is a new home community just off 485 at Rt 29 by McCar Homes-
Mallard Lake is super convenient location-wise, and is a collection of townhomes and single families that is selling quite well despite the downturn elsewhere. Saturday, I came across this Inventory townhome, and as the year end approaches, and books have to be accounted for by the builders, the deals get better. See if you don’t agree, pricing is for closing by year end:
The 4br/3.5 bath unit is price at $159,900, however, they will take a discount on the HUD of 5,000, so your net price is 154,900 on 1970 square feet, or $79/sf. did I mention they’ll pay up 3,000 in closing using their lender- Sun Trust?
The floor plan is pretty cool too with a one car garage, plus bedroom/bath and rear entrance, then on the 3nd floor, 3 bedrooms 2 bath.
Now lets look at the options included:
Its and End Unit, with a large deck off the middle floor
Hardwood floors are the in downstairs hall, the kitchen and bath
Granite counters, tile back splash, upgraded gas range
All stainlees appliances included, including refigerator
Washer and Dryer included
Here are a few more pics, they are thumnails, click to enlarge
This is a move in ready, virtually rent ready (3 renters ideal), near the University.
Lets do the numbers for an investment- since there isn’t 10% investor money any more, Look at this:
Purchase price $155,000
20% deposit 31,000
Loan Amount $124,000
Mortgage, 30yr fixed 7% P + I = 824
Taxes and insurance = $175, HOA $150 Total PITI + HOA $1125
Rental at $500 per person per month, or $1500 rent, 325/mo positive cash flow. Immediate cash on cash return of 12.5%, before depreciation. Move-in ready, upgraded, new for $79.sf, the average sales price, cost per sf for not new, partially upgraded is $83/sf of Novemeber 2008. And HOA fees include lawn maintenance. Not too shabby!
———————–
The McDonald Team represent buyers and sellers throughout the
Charlotte area. With over 500 unique search-able keywords, and more
than 8000 visitors per month to our blog websites, we are the #1Team on
the Internet in Charlotte NC.
If you’re thinking of selling your Charlotte home, send us a request
for a more detailed report of homes sold in your neighborhood!
Know your home value and lower your real estate selling stress! No
obligaton. Or Call us direct at 704-351-1519.
Charlotte Zip Code 28269 Recent Homes Sold Report
3 Essentials to Selling Your Home NOW
Charlotte Home Search- map/community based
You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.