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11115 Cypress View Drive Charlotte, NC 28262

4 Beds 3 Baths 2,347 sqft Built 2006

$305,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $129.95
  • 3 Days on Market
  • MLS # : 3690017
  • Updated Date : 12/11/2020 at 16:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,347 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mark Spain Real Estate

Listing Agent's Description

Come check out this beautifully maintained 4 bedroom 2/1 bath in the highly sought after Arbor Hills neighborhood. Very close to the Goddard School of Charlotte(Mallard Creek)

SEE MORE

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: Mallard Creek - Withrow Downs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Mallard Creek - Withrow Downs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Mallard Creek Elementary School Primary Regular 803 46 3
Ridge Road Middle School Middle Regular 1,285 65 6
Mallard Creek High School High Regular 2,472 123 6

Mallard Creek Elementary School

  • Education Level: Primary
  • # of students: 803
  • # of teachers: 46
3
GreatSchools Rating

Ridge Road Middle School

  • Education Level: Middle
  • # of students: 1,285
  • # of teachers: 65
6
GreatSchools Rating

Mallard Creek High School

  • Education Level: High
  • # of students: 2,472
  • # of teachers: 123
6
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,125
Property Tax -$270
Property Insurance -$71
HOA -$52
Property Management Fees -$119
CASH FLOW
$163

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$305,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.6%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$39,587

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,795

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,7993$1,8004$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 11115 Cypress View Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,347 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,347 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.77
    •  
  • 10540 Adlin Avenue Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 2004
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.72
    •  
  • 1934 Arbor Crest Court Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2005
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.72
    •  
  • 1905 Arbor Crest Court Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,309 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,309 Sqft ∙ Built 2006
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.78
    •  
  • 10820 Fountaingrove Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,339 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,339 Sqft ∙ Built 2004
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.79
    •  
PROPERTY LISTING DETAILS
Rachel Alles
1.855.299.7653
Mark Spain Real Estate
BESbswy