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11118 Greenhead View Road Charlotte, NC 28262

4 Beds 3 Baths 2,120 sqft Built 2009

$297,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $140.09
  • 4 Days on Market
  • MLS # : 3709714
  • Updated Date : 02/19/2021 at 11:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,120 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allen Tate Gastonia

Listing Agent's Description

Why sacrifice on location, layout, or neighborhood amenities when you can have them ALL?! Located in the desirable Mallard Lake neighborhood, this stunning home, features an array of perks including an oversized, rear patio covered by an impressive pergola, a fenced yard and a storage building! The HEART of this home is in its welcoming great room, with cozy gas fireplace and cheerful natural light! Entertain your guests in the large, formal dining room or more casually in the open kitchen, featuring a breakfast bar, pantry, and ample counter and cabinet spaces! Working from home? You'll LOVE the HUGE FLEX ROOM off of the master bedroom, which would make a perfect office, workout room, den, craft room... the possibilities are endless! ENJOY your downtime with the numerous neighborhood amenities, including a playground, outdoor pool, pond, walking trails, and more! Close to UNCC, Lynx System, Concord Mills, I-85 and I-485! Don't let this home slip away. Make your appointment TODAY!

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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: 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
Stoney Creek Elementary School Primary Regular 853 50 4
James Martin Middle School Middle Regular 1,113 54 3
Vance High School High Regular 1,714 91 3

Stoney Creek Elementary School

  • Education Level: Primary
  • # of students: 853
  • # of teachers: 50
4
GreatSchools Rating

James Martin Middle School

  • Education Level: Middle
  • # of students: 1,113
  • # of teachers: 54
3
GreatSchools Rating

Vance High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 91
3
GreatSchools Rating
 

$267,300$326,700$297,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,032
Property Tax -$259
Property Insurance -$67
HOA -$47
Property Management Fees -$119
CASH FLOW
$226

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.

$297,000

PROJECTED PRICE

$1,750

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,455

INVESTMENT

$84,455

Down Payment
$74,250
Rehab Estimate
$5,750
Closing Costs
$4,455

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,032

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,250
Loan Amount $222,750
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$39,382

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,723

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7504$1,7955$1,795
$1,795
RENT COMPS ANALYSIS
  • 11118 Greenhead View Road Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,120 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,120 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.83
    •  
  • 1419 Ladora Drive Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,140 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,140 Sqft ∙ Built 2003
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.77
    •  
  • 1102 Garrison Road Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,192 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,192 Sqft ∙ Built 2003
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.77
    •  
  • 10810 Greenhead View Road Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,132 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,132 Sqft ∙ Built 2010
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.84
    •  
  • 13822 Porter Creek Road Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 2012
    LEASED 02/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.87
    •  
PROPERTY LISTING DETAILS
Megan Triplett
1.704.813.7290
Allen Tate Gastonia
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3709714
Last Updated: 02/19/2021
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