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11251 Blue Cedar Lane Charlotte, NC 28277

3 Beds 3 Baths 1,683 sqft Built 1998

$342,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $203.21
  • 3 Days on Market
  • MLS # : 3718003
  • Updated Date : 03/12/2021 at 21:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,683 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Charlotte two-story home offers a patio, and granite countertops.

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: Ballantyne West

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Ballantyne West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8442026

* 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
Community House Middle School Middle Regular 1,750 81 9
Ardrey Kell High School High Regular 2,701 127 9

Endhaven Elementary School

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

Community House Middle School

  • Education Level: Middle
  • # of students: 1,750
  • # of teachers: 81
9
GreatSchools Rating

Ardrey Kell High School

  • Education Level: High
  • # of students: 2,701
  • # of teachers: 127
9
GreatSchools Rating
 

$307,800$376,200$342,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,188
Property Tax -$298
Property Insurance -$59
HOA -$33
Property Management Fees -$119
CASH FLOW
-$57

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.

$342,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.3%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$96,380

INVESTMENT

$96,380

Down Payment
$85,500
Rehab Estimate
$5,750
Closing Costs
$5,130

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,188

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,500
Loan Amount $256,500
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$16,068

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,687

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,640
1$1,6402$1,6953$1,7004$1,7955$1,895
$1,895
RENT COMPS ANALYSIS
  • 11251 Blue Cedar Lane Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,683 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,683 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.97
    •  
  • 13523 Gatestone Lane Pineville, NC 2
    • 3 beds 3 baths ∙ 1,717 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,717 Sqft ∙ Built 1990
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.99
    •  
  • 12520 Diamond Drive Pineville, NC 3
    • 3 beds 2 baths ∙ 1,701 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,701 Sqft ∙ Built 1992
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.00
    •  
  • 14917 Edindale Drive Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,831 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,831 Sqft ∙ Built 1998
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.98
    •  
  • 12100 Winghurst Drive Pineville, NC 5
    • 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 1998
    LEASED 01/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.04
    •  
PROPERTY LISTING DETAILS
Verria Hairston
1.704.751.0133
Opendoor Brokerage Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3718003
Last Updated: 03/12/2021
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