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Archived almost 5 years ago

$169,900

4 bd 2 ba 1100 sqft

9548 University Terrace Dr., Charlotte, NC 28262

Residential Condo Occupied Off MLS

Current Rent **

$1,400

Projected Rent **

$1,640

Estimated Cap Rate *

Pro Only

Estimated Cash on Cash ROI *

Pro Only

UNCC Student Housing!!!

This condo is located right across from campus at University Terrace. This four bedroom, lower level condo is rarely ever vacant. We chose to rent on one master lease to four roommates at $1400 per month ($350 each). However, if you choose to rent by the room, that rate can easily jump up to $1640 monthly. This is a gated community with video surveillance. Featuring adequately sized bedrooms and two full baths, these units do not come available very often. Built in 1991, the HOA dues are $220 per month and includes trash pickup, basic cable and internet. This is an excellent opportunity to invest in affordable student housing, of which there always seems to be a shortage. Current property manager is us, First Investor Realty & Management, LLC. We would love to stay on and manage as we have been dealing with these units for over 15 years, off and on. The current tenants lease does run out mid May, and they do not intend to stay, so timing is good if you want to make a change and increase rents. Since the property is occupied, we will need at least 24 hours notice to view. Feel free to let me know if you have any questions.

Location:

9548 University Terrace Dr., Charlotte, NC 28262

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* The cap rate and cash on cash return calculations found on BiggerPockets Listings are estimated and designed to be used for informational and educational purposes only, and when used alone, do not constitute investment advice. They assume 3 months worth of expenses and estimate taxes and insurance. BiggerPockets recommends that you seek the advice of a real estate professional before making any type of investment. The results presented may not reflect the actual return of your own investments. BiggerPockets is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Furthermore, BiggerPockets is not responsible for any human or mechanical errors or omissions.

** Current rent and projected rent are provided by the lister.

† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.

‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.