Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

11214 Blue Heron Drive Charlotte, NC 28226

3 Beds 2 Baths 1,410 sqft Built 1978

$239,900

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $170.14
  • 5 Days on Market
  • MLS # : 3681732
  • Updated Date : 11/14/2020 at 07:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,410 sqft
  • Baths : 2 full
Listing Agent

Austin Banks Real Estate Company Llc

Listing Agent's Description

***WILL GO LIVE ON 11/14. PROFESSIONAL PICS AND MEASUREMENT COMING!!! Don't miss this home, move in ready with a fresh cosmetic renovation! Welcoming entry greets you with an expansive vaulted living room perfect for large gatherings with family, friends or your pals of choice (Furry friends included). The focus is the fireplace, ripe for a flat screen installation. The large eat-in kitchen is adjacent with fresh countertops and gleaming stainless steel appliances. New durable LVP flooring throughout living areas with new carpet in the bedrooms. Generous Master bedroom has ensuite bathroom and walk-in closet with new vanity. Two generously bedrooms complete the interior package. Complete the tour through the kitchen to the rear covered porch overlooking the large fenced rear yard. Plenty of space around the back yard fire-pit to enjoy the finest of smores. Home also features a large storage shed in the rear yard with wiring-Half with insulation, perfect for Mancave or She-shed setup!

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: Hwy 51 - Park Road

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $102k235k

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

Neighborhood: Hwy 51 - Park Road

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8421518

* 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
Pineville Elementary School Primary Regular 811 45 7
Quail Hollow Middle School Middle Regular 946 51 3
South Mecklenburg High School High Regular 2,913 147 7

Pineville Elementary School

  • Education Level: Primary
  • # of students: 811
  • # of teachers: 45
7
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
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$885
Property Tax -$235
Property Insurance -$54
Property Management Fees -$113
CASH FLOW
-$36

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.

$239,900

PROJECTED PRICE

$1,250

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 7.7%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$8,463

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,378

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3823$1,4454$1,4505$1,495
$1,495
RENT COMPS ANALYSIS
  • 11214 Blue Heron Drive Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.89
    •  
  • 11712 Rimrock Canyon Drive Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 1980
    property image
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,382
    • $0.98
    •  
  • 8020 Park Vista Circle Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1979
    property image
    LEASED 01/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $1.04
    •  
  • 8729 Timbercrest Circle Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1974
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 11205 Vintage Lane Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 1978
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
PROPERTY LISTING DETAILS
Steve Casselman
1.704.773.4345
Austin Banks Real Estate Company Llc
BESbswy