I hope everyone had a Merry Christmas and is
looking forward to a happy, healthy and prosperous 2014. Those of us who know
Charlotte well know that there remains a wealth of potential investment-grade
real estate to match a variety of strategies and geographical preferences. My
first investor suggestion list of 2014 gives you a cross section of currently
available property with good potential for upside. There is probably a bit more
buyer interest than good inventory to match it at the moment, so the "best"
values still go under contract quickly. But there is also a constant stream of
inventory entering the market, and there are always good values to choose
from-- if you are able to identify them and are able to act quickly enough.
There are 16 properties on this current list, and I will let the individual MLS report for each speak for itself. You can access those reports via the link at the bottom of this page. I will summarize five below, just to underscore the notion that there remain properties that match most investor strategies:
#1 on the list - MLS 2195818 - this is a 3BR/1BA in the older, established Starmount neighborhood, not far from Uptown and Charlotte's light rail system. Many of these older 3/1's can be easily converted to 3/2's because most are built on crawl spaces and floorplans are often relatively easy to reconfigure to allow for an additional bath. Many are also full brick construction, and lot sizes are decent. These can make nice fast flip properties when "bought right." This home is an REO (foreclosure) and has been reduced to $102,900, with a tax assessed value of $141,300. As a 3/2, ARV could be over $150,000.
#5 on the list - MLS 2197646 - this is a 4/2.5 VA REO in The Oaks on Providence, a very nice Waxhaw community assigned to the highly desirable Cuthbertson schools. Most foreclosures and short sales have been absorbed back into the market in this community, and prices have generally stabilized nicely above that $205,000-$210,000 range. This home is listed at $188,000 and has a tax value of $220,380.
#7 on the list - MLS 2156360 - this is a duplex in the Carmel Station subdivision. There is one 2/1.5 unit apparently rented at $850/month and one 2/1 rented at $600/month. The seller is "motivated" and asking $171,900. The property has a tax assessed value of $300,800, but this may include vacant lots at the front of the property.
#10 on the list - MLS 2183786 - this is a 4/3 Fannie Mae REO in the Lexington subdivision of Charlotte. It has been reduced to $305,900 and has a tax value of $374,300.
#16 on the list - MLS 2199885 - this is a "no frills" 3/2.5 in north Charlotte that would almost certainly generate that rental yield above 10% most investors are looking for. It was built in 2004 and is listed at $119,000, with a tax value of $153,200.
As always, if you have any questions or would like more information on any of the properties on this list-- or any other properties in the Charlotte metropolitan area-- please don't hesitate to contact me. Best wishes for a productive and prosperous 2014!
Click the Hyperlink below to link to and view property listing(s) of interest. If after clicking the link, your Internet browser does not launch, right click on the link and Copy the Shortcut. Then paste the Shortcut into your browser's Address Field.
XPROP - Customer
Eric J. Dorer, B.S., J.D.
NC/SC Broker/Realtor®
Eric J. Dorer Real Estate
2740 Oxborough Drive
Matthews, NC 28105
Tel: (980)875-0950
There are 16 properties on this current list, and I will let the individual MLS report for each speak for itself. You can access those reports via the link at the bottom of this page. I will summarize five below, just to underscore the notion that there remain properties that match most investor strategies:
#1 on the list - MLS 2195818 - this is a 3BR/1BA in the older, established Starmount neighborhood, not far from Uptown and Charlotte's light rail system. Many of these older 3/1's can be easily converted to 3/2's because most are built on crawl spaces and floorplans are often relatively easy to reconfigure to allow for an additional bath. Many are also full brick construction, and lot sizes are decent. These can make nice fast flip properties when "bought right." This home is an REO (foreclosure) and has been reduced to $102,900, with a tax assessed value of $141,300. As a 3/2, ARV could be over $150,000.
#5 on the list - MLS 2197646 - this is a 4/2.5 VA REO in The Oaks on Providence, a very nice Waxhaw community assigned to the highly desirable Cuthbertson schools. Most foreclosures and short sales have been absorbed back into the market in this community, and prices have generally stabilized nicely above that $205,000-$210,000 range. This home is listed at $188,000 and has a tax value of $220,380.
#7 on the list - MLS 2156360 - this is a duplex in the Carmel Station subdivision. There is one 2/1.5 unit apparently rented at $850/month and one 2/1 rented at $600/month. The seller is "motivated" and asking $171,900. The property has a tax assessed value of $300,800, but this may include vacant lots at the front of the property.
#10 on the list - MLS 2183786 - this is a 4/3 Fannie Mae REO in the Lexington subdivision of Charlotte. It has been reduced to $305,900 and has a tax value of $374,300.
#16 on the list - MLS 2199885 - this is a "no frills" 3/2.5 in north Charlotte that would almost certainly generate that rental yield above 10% most investors are looking for. It was built in 2004 and is listed at $119,000, with a tax value of $153,200.
As always, if you have any questions or would like more information on any of the properties on this list-- or any other properties in the Charlotte metropolitan area-- please don't hesitate to contact me. Best wishes for a productive and prosperous 2014!
Click the Hyperlink below to link to and view property listing(s) of interest. If after clicking the link, your Internet browser does not launch, right click on the link and Copy the Shortcut. Then paste the Shortcut into your browser's Address Field.
XPROP - Customer
Eric J. Dorer, B.S., J.D.
NC/SC Broker/Realtor®
Eric J. Dorer Real Estate
2740 Oxborough Drive
Matthews, NC 28105
Tel: (980)875-0950
