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11211 Tristan Court Charlotte, NC 28213

3 Beds 3 Baths 2,375 sqft Built 2007

$280,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2007
  • Price/Sqft : $117.89
  • 23 Days on Market
  • MLS # : 3673475
  • Updated Date : 11/03/2020 at 13:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,375 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lantern Realty & Development Llc

Listing Agent's Description

Great University location! Master on Main! 3 bedrooms 2.5 baths on a quiet clu de sac. A large entry way greets you as you enter. To the right is the eat in kitchen with island and ample dark cabinets for plenty of storage. The kitchen is open to the spacious dining room and family room with gas fireplace. The large master bedroom connects to the ensuite with soaker tub, separate stand up shower, dual sinks, water closet, linen closet and a large walk in closet. Laundry and a half bath are also located on the main floor. Upstairs you will find a great loft area over looking the family room, 2 Spacious bedrooms and a full bath. One of the bedrooms has carpet and one has lamanent floors. 2 car attached garage. Paver patio out back perfect to sit and listen to the birds in the tree filled natural buffer making the back yard private from the neighbors behind you.

SEE MORE

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: Newell

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $108k235k

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

Neighborhood: Newell

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8261518

* 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
University Meadows Elementary School Primary Regular 657 45 4
James Martin Middle School Middle Regular 1,113 54 3
Vance High School High Regular 1,714 91 3

University Meadows Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 45
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
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,033
Property Tax -$244
Property Insurance -$72
Property Management Fees -$141
CASH FLOW
$80

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.

$280,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
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-$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$20,678

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,627

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5703$1,5954$1,5955$1,695
$1,695
RENT COMPS ANALYSIS
  • 11211 Tristan Court Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,375 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,375 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.66
    •  
  • 2622 Billings Park Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 1997
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.69
    •  
  • 11624 Erwin Ridge Avenue Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,386 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,386 Sqft ∙ Built 2002
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.67
    •  
  • 10528 Pickerel Lane Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 2003
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.70
    •  
  • 10440 Henbane Court Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 1996
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.68
    •  
PROPERTY LISTING DETAILS
April Bird
1.901.569.3161
Lantern Realty & Development Llc
BESbswy