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11330 Wagonford Lane Charlotte, NC 28273

4 Beds 3 Baths 1,900 sqft Built 1994

$295,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $155.26
  • 3 Days on Market
  • MLS # : 3696940
  • Updated Date : 01/08/2021 at 22:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,900 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

Ideally located in the desirable Yorkshire subdivision, just minutes from all your shopping needs, this 4 bedroom, 2.5 bath home could be exactly what you're looking for. The family room provides ample space for entertaining, yet keeps a cozy feel. The back yard is a great, fenced-in gathering space with a large back-deck. There are many aspects of this home that you can not help but fall in love with!

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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: Yorkshire

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $103k318k

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

Neighborhood: Yorkshire

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
River Gate Elementary School Primary Regular 828 44 7
Southwest Middle School Middle Regular 1,403 72 6
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

River Gate Elementary School

  • Education Level: Primary
  • # of students: 828
  • # of teachers: 44
7
GreatSchools Rating

Southwest Middle School

  • Education Level: Middle
  • # of students: 1,403
  • # of teachers: 72
6
GreatSchools Rating

Math, Engineering, Technology And Science At Olympic High School

  • Education Level: High
  • # of students: 607
  • # of teachers: 28
7
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,025
Property Tax -$257
Property Insurance -$63
HOA -$33
Property Management Fees -$119
CASH FLOW
$123

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.

$295,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.2%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$29,039

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,606

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6203$1,6954$1,6955$1,695
$1,695
RENT COMPS ANALYSIS
  • 11330 Wagonford Lane Charlotte, NC 2
    • 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.85
    •  
  • 13415 Kibworth Lane Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,010 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,010 Sqft ∙ Built 1995
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.80
    •  
  • 11202 Livingston Mill Road Charlotte, NC 3
    • 4 beds 2 baths ∙ 1,906 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,906 Sqft ∙ Built 1998
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.89
    •  
  • 11314 Bumpious Court Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,016 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,016 Sqft ∙ Built 1994
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.84
    •  
  • 14801 Asheton Creek Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,099 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,099 Sqft ∙ Built 2003
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.81
    •  
PROPERTY LISTING DETAILS
Josh Kelly
1.704.421.4960
Keller Williams Ballantyne Area
BESbswy