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11013 Dipali Court Charlotte, NC 28214

3 Beds 3 Baths 2,362 sqft Built 2000

INVESTimate

$285,000

List Price

$1,630

$1,467 - $1,793

Rent Est.

$308,085  ( +8.10%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $120.66
  • 7 Days on Market
  • MLS # : 3653921
  • Updated Date : 08/23/2020 at 23:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,362 sqft
  • Baths : 2 full , 1 half
Listing Agent

Carolinas Realty Connection Llc

Listing Agent's Description

Beautiful custom-built brick home, cul-de-sac close to US National Whitewater Center. Home features soaring two story foyer, hardwood flooring on main & heavy molding throughout. Spacious owner’s suite w/trey ceiling. Bath w/ walk in closet, double vanities w/granite countertops, separate soaking tub w/tile surround & Tiled Shower w/ seamless glass doors & private water closet. Eat in kitchen w/ custom cabinetry, stainless appliances & granite countertops & island. Family room w/ gas FP, FDR on main level along w/ flex space currently used as an office but has endless possibilities. Spacious bonus room w/ additional side storage on second level. Home features a fully fence back yard w/ storage shed. Spacious yard; bi-level deck perfect for entertaining. Recent updates include upgraded energy efficient Low E glass windows throughout, privacy glass in owner’s bath. New Roof in 2018. New Gutters in 2018 & 1 new HVAC system installed approx. 2019. No HOA. Owner is a license broker.

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MARKET HIGHLIGHTS

  • Corporate Fortune 500 headquarters: Bank of America, Lowe’s, Duke Energy, Nucor, Family Dollar Stores, Sonic Automotive, Domtar
  • #3 fastest-growing big city in US with more than 15,000 people added in 2017 (US Census, 2018)
  • Charlotte metro has 65.8% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • Charlotte attracted more than $325 million in capital investments in 2018Q2 (Meckelenburg county, June 2018)
  • Charlotte metro's economy is worth $181 billion in Gross Metro Product and projected to grow to $192 billion in 2019 (USMayors.org, 2018)
  • #1 Millenial Moving destination city (Smart Asset)

PRICE & RENT TRENDS

Neighborhood: Coulwood West

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $104k235k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Coulwood West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350140014501500Rent in $7871518

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
River Oaks Academy Primary Regular 611 36 5
Coulwood Middle School Middle Regular 694 45 7
West Mecklenburg High School High Regular 2,040 108 1

River Oaks Academy

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 36
5
GreatSchools Rating

Coulwood Middle School

  • Education Level: Middle
  • # of students: 694
  • # of teachers: 45
7
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,052
Property Tax -$264
Property Insurance -$72
Property Management Fees -$147
CASH FLOW
$96

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$285,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.10%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$22,298

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,630

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,547

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,5653$1,5954$1,6255$1,630
$1,630
RENT COMPS ANALYSIS
  • 11013 Dipali Court Charlotte, NC 5
    • 3 beds 3 baths ∙ 2,362 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,362 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.69
    •  
  • 11402 Hawk Roost Court Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,254 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,254 Sqft ∙ Built 2002
    property image
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.62
    •  
  • 11539 Carnsore Court Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2003
    property image
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.66
    •  
  • 1516 Bray Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 2,542 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,542 Sqft ∙ Built 2007
    property image
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.63
    •  
  • 2328 Harwood Hills Lane Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,366 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,366 Sqft ∙ Built 2004
    property image
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.69
    •  
PROPERTY LISTING DETAILS
Kim Ward
1.704.577.2168
Carolinas Realty Connection Llc
BESbswy