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11121 Winding Way Road Charlotte, NC 28226

3 Beds 3 Baths 2,341 sqft Built 1977

$320,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $136.69
  • 2 Days on Market
  • MLS # : 3693589
  • Updated Date : 12/26/2020 at 11:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,341 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allen Tate Fort Mill

Listing Agent's Description

Don't miss out on this amazing home in a great Charlotte location. Quick access to shopping and dining. This is a super cool floor plan with a large recreational room, separate family room with stone fireplace. Vaulted ceilings, dining room and a large kitchen with breakfast area. This home has so much potential. The current owners weren't able to get to all the things they wanted to do before getting a job transfer. This is the time for you to come and make this the dream home you have been looking for. The back yard is huge! So much running around space with a great back deck.

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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: McAlpine

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $94k318k

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

Neighborhood: McAlpine

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
Endhaven Elementary School Primary Regular 713 41 6
Quail Hollow Middle School Middle Regular 946 51 3
South Mecklenburg High School High Regular 2,913 147 7

Endhaven Elementary School

  • Education Level: Primary
  • # of students: 713
  • # of teachers: 41
6
GreatSchools Rating

Quail Hollow Middle School

  • Education Level: Middle
  • # of students: 946
  • # of teachers: 51
3
GreatSchools Rating

South Mecklenburg High School

  • Education Level: High
  • # of students: 2,913
  • # of teachers: 147
7
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,181
Property Tax -$309
Property Insurance -$71
HOA -$54
Property Management Fees -$119
CASH FLOW
$96

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.

$320,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 8.8%
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$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$32,819

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,037

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7953$1,8304$1,9505$2,180
$2,180
RENT COMPS ANALYSIS
  • 11121 Winding Way Road Charlotte, NC 3
    • 3 beds 3 baths ∙ 2,341 Sqft ∙ Built 1977 3 beds 3 baths ∙ 2,341 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.78
    •  
  • 11533 Five Cedars Road Charlotte, NC 1
    • 3 beds 2 baths ∙ 2,068 Sqft ∙ Built 1982 3 beds 2 baths ∙ 2,068 Sqft ∙ Built 1982
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.80
    •  
  • 11208 Harrowfield Road Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,016 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,016 Sqft ∙ Built 1980
    LEASED 08/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.89
    •  
  • 6808 Porterfield Road Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,334 Sqft ∙ Built 1979 3 beds 3 baths ∙ 2,334 Sqft ∙ Built 1979
    LEASED 09/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.84
    •  
  • 11714 Harrowfield Road Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,374 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,374 Sqft ∙ Built 1979
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.92
    •  
PROPERTY LISTING DETAILS
Kelly Cahill
1.803.389.0080
Allen Tate Fort Mill
BESbswy