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11017 Ogden Lane #254 Crosby Tudor Charlotte, NC 28278

5 Beds 5 Baths 3,222 sqft Built 2020

$411,707

List Price

$3,030

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $127.78
  • 3 Days on Market
  • MLS # : 3680288
  • Updated Date : 11/06/2020 at 15:58
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,222 sqft
  • Baths : 4 full , 1 half
Listing Agent

Mattamy Carolina Corporation

Listing Agent's Description

Crosby Floor plan. This home includes 5 spacious bedroom and 4 full baths and flex room plus large loft. Upgrading flooring throughout, oversize island ,granite countertops, stainless steel appliances with upgraded cabinets, tiled master shower. Tons of upgrades. Close to Charlotte Douglas Airport, Uptown Charlotte and Fort Mill. Low Taxes.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Pleasant Hill Road

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $116k346k

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

Neighborhood: Pleasant Hill Road

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441854

* 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
Palisades Park Elementary School Primary Unknown 687 36 NA
Southwest Middle School Middle Regular 1,403 72 6
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

Palisades Park Elementary School

  • Education Level: Primary
  • # of students: 687
  • # of teachers: 36
NA
GreatSchools Rating

Southwest Middle School

  • Education Level: Middle
  • # of students: 1,403
  • # of teachers: 72
6
GreatSchools Rating

Math, Engineering, Technology And Science At Olympic High School

  • Education Level: High
  • # of students: 607
  • # of teachers: 28
7
GreatSchools Rating
 

$370,536$452,878$411,707

PURCHASE PRICE

$2,727$3,333$3,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,030
EXPENSES Loan Payment -$1,519
Property Tax -$340
Property Insurance -$88
HOA -$67
Property Management Fees -$273
CASH FLOW
$744

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$411,707

PROJECTED PRICE

$3,030

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 3.00%
Vacancy 6.31%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,102

INVESTMENT

$111,102

Down Payment
$102,927
Rehab Estimate
$2,000
Closing Costs
$6,176

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$1,519

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,927
Loan Amount $308,780
See What Happens When You Reinvest Cash Flow

13.92

YEARS SAVED

$111,732

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,030

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,980

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$3,0003$3,030
$3,030
RENT COMPS ANALYSIS
  • 11017 Ogden Lane Charlotte, NC 3
    • 5 beds 5 baths ∙ 3,222 Sqft ∙ Built 2020 5 beds 5 baths ∙ 3,222 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $3,030
    • $0.94
    •  
  • 13620 Glen Abbey Drive Charlotte, NC 1
    • 5 beds 4 baths ∙ 3,255 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,255 Sqft ∙ Built 2006
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.83
    •  
  • 9069 Tulagi Court Tega Cay, SC 2
    • 4 beds 4 baths ∙ 3,242 Sqft ∙ Built 1977 4 beds 4 baths ∙ 3,242 Sqft ∙ Built 1977
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.93
    •  
PROPERTY LISTING DETAILS
John George
1.704.309.6173
Mattamy Carolina Corporation
BESbswy