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

11266 Serenity Farm Drive #108 Midland, NC 28107

4 Beds 3 Baths 3,210 sqft Built 2021

$411,965

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $128.34
  • 5 Days on Market
  • MLS # : 3700518
  • Updated Date : 01/21/2021 at 13:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,210 sqft
  • Baths : 3 full
Listing Agent

Ccnc Realty Group Llc

Listing Agent's Description

Popular Providence home design with WATER VIEW OF NEIGHBORHOOD POND. Open main level with study and dining room just off the foyer and butlers panty entry to kitchen from dining room. Casual great room with gas fireplace overlooks island kitchen with 42 inch cabinetry, granite countertops, stainless steel appliance package and tile backsplash. Private guest bedroom and full bath on the main level of the home. Second level owner's suite includes a spacious bathroom with a separate soaking tub and seated tiled shower, dual vanities, private water closet, and generous walk-in closet. Two additional bedrooms with lots of natural light. The second level also features a loft and game room offering tremendous flexibility. Large patio in the rear with view of neighborhood fishing pond. Hickory Ridge Schools.

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

Zip Code: 28107

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $108k240k

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

Zip Code: 28107

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350Rent in $8371375

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$370,769$453,162$411,965

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,431
Property Tax -$207
Property Insurance -$88
HOA -$54
Property Management Fees -$119
CASH FLOW
$441

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$411,965

PROJECTED PRICE

$2,340

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 9.2%
Maintenance Year (1-5) 3.00%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,171

INVESTMENT

$111,171

Down Payment
$102,991
Rehab Estimate
$2,000
Closing Costs
$6,179

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$1,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,991
Loan Amount $308,974
See What Happens When You Reinvest Cash Flow

11.33

YEARS SAVED

$73,635

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,343

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,340
$2,340
RENT COMPS ANALYSIS
  • 11266 Serenity Farm Drive Midland, NC 2
    • 4 beds 3 baths ∙ 3,210 Sqft ∙ Built 2021 4 beds 3 baths ∙ 3,210 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $0.73
    •  
  • 10904 Mccamie Hill Place Concord, NC 1
    • 4 beds 4 baths ∙ 3,140 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,140 Sqft ∙ Built 2005
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.73
    •  
PROPERTY LISTING DETAILS
Dawn Wood
1.704.340.8926
Ccnc Realty Group Llc
BESbswy