Charlotte North Carolina Investment Property

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Charlotte Investment Property
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Overview

Charlotte is a very large city located in the state of North Carolina. With a population of 751,087 people and 200 constituent neighborhoods, Charlotte is the largest community in North Carolina.

Charlotte is neither predominantly blue-collar nor white-collar, instead having a mixed workforce of both blue-collar and white-collar jobs. Overall, Charlotte is a city of sales and office workers, professionals and managers. There are especially a lot of people living in Charlotte who work in office and administrative support (13.90%), sales jobs (13.02%) and management occupations (10.87%).

Also of interest is that Charlotte has more people living here who work in computers and math than 95% of the places in the US.

Charlotte is one of the most attractive larger cities for people who are young, single, educated, and upwardly-mobile career starters. This makes it a good place to live for young singles in their 20s and 30s and who have undergraduate or graduate degrees and are starting their professional careers. Although Charlotte is a large city, this demographic is significant enough that young professionals will find many others like themselves here, with really good opportunities for friendships, recreation, romance, and more.

Of the large cities in America, Charlotte is one of the most car-oriented. This is reflected in the urban landscape, which features highways, wide streets, parking lots, and shopping centers of all sizes. It is also reflected in the statistics: 80.03% of people in Charlotte drive to work in their own car everyday, most often alone. So, if you're going to live in Charlotte, you'll need to learn to love driving. Alternative forms of transportation aren't very widely used or supported.

Charlotte Information and Demographics

The population of Charlotte is very well educated relative to most cities and towns in the nation, where the average community has 21.84% of its adult population holding a 4-year degree or higher: 39.12% of adults in Charlotte have a bachelor's degree or even advanced degree.

The per capita income in Charlotte in 2010 was $30,984, which is wealthy relative to North Carolina and the nation. This equates to an annual income of $123,936 for a family of four. However, Charlotte contains both very wealthy and poor people as well.

Charlotte is an extremely ethnically-diverse city. The people who call Charlotte home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Charlotte residents report their race to be White, followed by Black or African-American. Charlotte also has a sizeable Hispanic population (people of Hispanic origin can be of any race). People of Hispanic or Latino origin account for 13.08% of the city’s residents. Important ancestries of people in Charlotte include German, English, Irish, Italian and Scots-Irish.

The most common language spoken in Charlotte is English. Some people also speak Spanish.


Information by Department of Numbers, Bureau of Labor Statistics, U.S. Census Bureau and Locatoin Incorporated are deemed reliable but not guaranteed.

Statistics for Single Family Homes and Condos in Charlotte, NC
$184,090 36 4,269 18.2%
Median
Listing Price
Median
Days on Market
Active Listings Distressed Listings
(foreclosures & short sales)
Median Price Trends — Charlotte, NC
Market Inventory Trends — Charlotte, NC
Average Days on Market — Charlotte, NC
Market Action Index — Charlotte, NC

Information by realestate.com and altosresearch.com are deemed reliable but not guaranteed.

Additional Statistics for Charlotte, NC
497,297 179,783 32 21 minutes
Number of Homes Homes
with Children
Median Age Average
Commute Time
Unemployment Rate Trends — Charlotte, NC
Unemployment Rate Trends - Charlotte, North Carolina
            Charlotte, North Carolina, National.   (Recessions shown as gray bars.)
Total Employment Trends — Charlotte, NC
Total Employment - Charlotte, North Carolina
            CPS - Current Population Survey,  CES - Current Employment Statistics.
Real Median Household Income Trends — Charlotte, NC
Real Median Household Income Trends - Charlotte, North Carolina
            Charlotte, North Carolina, National.
Home Rent-to-Mortgage Payment Ratio — Charlotte, NC
Home Rent-to-Mortgage Payment Ratio - Charlotte, North Carolina

The rent-to-mortgage payment ratio uses the adjusted market rent against a 100% loan-to-value mortgage (30-year fixed) for the median price home using MLS sales statistics.  A ratio of 1.0 means that annual rent is equivalent to annual mortgage payments.  Values less than 1.0 indicate rents are cheaper, and values greater than 1.0 mean mortgage payments are cheaper.  (Note: taxes are not considered here.)

The rent-to-mortgage payment ratio for Charlotte was 1.04 in December 2012.

Information by Department of Numbers, Bureau of Labor Statistics, U.S. Census Bureau deemed reliable but not guaranteed.

Price Forecast for Charlotte, NC  (MSA)
3.5% 5.4% 7.5% 9.6%
Next 24 Months Next 36 Months Next 48 Months Next 60 Months

Metropolitan Statistical Area (MSA) represents the current U.S. defined sampling area or region for reporting data to various local and state governments.  MSAs may cross county and state lines to form a qualified statistical region.


Basic Purchase Information

Property Value  (est.) $
Purchase Price $
Down Payment  (%) $
Equity at Purchase $

Mortgage Calculation

Interest Rate (%)
Down Payment (%)
Loan Term (Fixed)
Loan Amount: $, Loan Term: yrs, Interest Rate: %
Loan Amount $
Annual Payment $
Monthly Payment $

Cash to Purchase

Down Payment  (%) $
Closing Costs  (%) $
Total Cash Required $
 
    Numbers in blue boxes can be modified.
    Calculations under all tabs update in real-time.
 
 

Calculation Assumptions

Rental Income (mo.) $
Property Taxes $
Insurance (est.) $
Homeowners Assoc. $
Management Fee (%)
Maintenance Reserve (%)
Appreciation Rate (%)
Vacancy Allowance (%)
Rental Income Increase (%)
Property Tax Increase (%)
Closing Costs (Buy) (%)
Closing Costs (Sell) (%)

Cash Flow and Equity Accumulation

CASH FLOW YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 YEAR 10 YEAR 20 YEAR 30
Gross Scheduled Income
  less Vacancy Allowance
Total Operating Income
                 
Property Taxes
Insurance (est.)
Homeowners Association
Maintenance Reserve
Property Management
Total Operating Expenses
                 
Net Operating Income (NOI)
  less Mortgage Expense
ANNUAL CASH FLOW
MONTHLY CASH FLOW
                 
TAX BENEFITS YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 YEAR 10 YEAR 20 YEAR 30
Depreciation
Mortgage Interest
                 
EQUITY ACCUMULATION YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 YEAR 10 YEAR 20 YEAR 30
Property Value
  less Mortgage Balance
EQUITY (WEALTH)
                 
FINANCIAL PERFORMANCE YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 YEAR 10 YEAR 20 YEAR 30
Capitalization (Cap) Rate
Cash on Cash Return (COC)
Return on Investment (ROI)
Internal Rate of Return (IRR)


Note: Google's Street View images may be as much as two years old.





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