Investment Property Spotlight - Charlotte, North Carolina

Every month we take a look at investment properties in various markets throughout the country. This go around we chose Charlotte, North Carolina. The spotlight property is a duplex listed for $375,000 at 1801 Runnymede Lane in the Barclay Downs neighborhood. The 3200-3900 sq/ft. property, built in 1978, has three bedrooms and 4 baths. According to the listing description on RealEstateNorthCarolina.com, the property is in a great location and it has a large front porch, tile foyer, and a back deck. Both units have similar floor plans plus the 2nd unit has a small basement area.

Let's do a little math (making some very broad assumptions):

Listing Price: $375,000
Let's just say you could get the home for $365,000
25% down on $365,000 = $91,250.
This would leave a loan balance of $273,750
If you could get a 5.000% note rate on a 30 year fixed rate mortgage, your monthly principal and interest payment would be $1,469.55

For more Charlotte mortgage information, you can contact American Bank's Charlotte branch at 877-215-2290.

Please keep in mind that we are only using the number above for example purposes only. We are not mortgage or financial professionals and we encourage you to speak with a licensed professional for assistance.

MLS number used in the search was: 973147