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11274 Serenity Farm Drive #106 Midland, NC 28107

4 Beds 4 Baths 3,066 sqft Built 2021

$402,914

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $131.41
  • 2 Days on Market
  • MLS # : 3699326
  • Updated Date : 01/16/2021 at 12:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,066 sqft
  • Baths : 3 full , 1 half
Listing Agent

Ccnc Realty Group Llc

Listing Agent's Description

New Hibiscus home design with a THREE CAR GARAGE and Guest Suite on the first floor! Boasting open concept living. Large kitchen with granite counter tops, island perfect for entertaining, and plentiful 42 inch cabinetry. Great room anchored by a gas fireplace with a mantle. Guest suite with full bath on main. Second level owner's suite with dual vanities and massive walk in closet. Two additional Secondary bedrooms upstairs offer tremendous storage with ample closets. Second level laundry and loft area. This home offers plentiful natural light throughout. Enjoy the rear extended patio overlooking this wooded lot!!!! Hickory Ridge Schools! This Three Car Garage Home is a must see!

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.
 

$362,623$443,205$402,914

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,399
Property Tax -$203
Property Insurance -$85
HOA -$54
Property Management Fees -$119
CASH FLOW
$380

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.

$402,914

PROJECTED PRICE

$2,240

PROJECTED RENT

0.56%

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,772

INVESTMENT

$108,772

Down Payment
$100,729
Rehab Estimate
$2,000
Closing Costs
$6,044

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,399

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,729
Loan Amount $302,186
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$66,663

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,223

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,025
1$2,0252$2,2403$2,300
$2,300
RENT COMPS ANALYSIS
  • 11274 Serenity Farm Drive Midland, NC 2
    • 4 beds 4 baths ∙ 3,066 Sqft ∙ Built 2021 4 beds 4 baths ∙ 3,066 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.73
    •  
  • 11374 Cedarvale Farm Parkway Midland, NC 1
    • 4 beds 3 baths ∙ 2,795 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,795 Sqft ∙ Built 2016
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $0.72
    •  
  • 10904 Mccamie Hill Place Concord, NC 3
    • 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
Mike Sanacore
1.518.796.7735
Ccnc Realty Group Llc
BESbswy