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11332 Warfield Avenue Huntersville, NC 28078

4 Beds 2 Baths 2,954 sqft Built 2008

$434,900

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $147.22
  • 7 Days on Market
  • MLS # : 3702076
  • Updated Date : 01/30/2021 at 00:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,954 sqft
  • Baths : 2 full
Listing Agent

The Alexander Realty Group

Listing Agent's Description

Don’t miss your opportunity to own a David Weekly home in the sought-after community of Vermillion! Sip your morning coffee overlooking your large, private backyard facing the wooded creek area from your screened porch. Enjoy open living space enhanced by 10’ soaring ceilings and crown molding throughout, granite countertops, stainless-steel appliances and tons of cabinet space. The main level features the master bedroom and two additional bedrooms plus a playroom/second living space. Upstairs you will find a large, open loft area pre-wired for surround sound that could serve as an office, rec room or an additional bedroom – lots of possibilities. Exterior is outfitted with gutter guards. In addition to all that this home has to offer, you will love the family-friendly community of Vermillion, featuring saltwater pool, greenspace, covered playground, walking trails, lighted sidewalks and two neighborhood restaurants - book your showing today!

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: Vermillion

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $118k359k

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

Neighborhood: Vermillion

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8442195

* 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
Blythe Elementary School Primary Regular 1,038 67 5
J.m. Alexander Middle School Middle Regular 865 40 4
North Mecklenburg High School High Regular 1,881 101 3

Blythe Elementary School

  • Education Level: Primary
  • # of students: 1,038
  • # of teachers: 67
5
GreatSchools Rating

J.m. Alexander Middle School

  • Education Level: Middle
  • # of students: 865
  • # of teachers: 40
4
GreatSchools Rating

North Mecklenburg High School

  • Education Level: High
  • # of students: 1,881
  • # of teachers: 101
3
GreatSchools Rating
 

$391,410$478,390$434,900

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,511
Property Tax -$376
Property Insurance -$83
HOA -$46
Property Management Fees -$119
CASH FLOW
$35

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.

$434,900

PROJECTED PRICE

$2,170

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.7%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

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$120,999

INVESTMENT

$120,999

Down Payment
$108,725
Rehab Estimate
$5,750
Closing Costs
$6,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,511

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $108,725
Loan Amount $326,175
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$29,023

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,186

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,045
1$2,0452$2,1453$2,1704$2,1955$2,295
$2,295
RENT COMPS ANALYSIS
  • 11332 Warfield Avenue Huntersville, NC 3
    • 4 beds 2 baths ∙ 2,954 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,954 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.73
    •  
  • 12803 Regent Grove Lane Huntersville, NC 1
    • 4 beds 3 baths ∙ 2,893 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,893 Sqft ∙ Built 2005
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $0.71
    •  
  • 13305 Banner Court Lane Huntersville, NC 2
    • 4 beds 3 baths ∙ 2,818 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,818 Sqft ∙ Built 2009
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $0.76
    •  
  • 15913 Oxford Glenn Drive Huntersville, NC 4
    • 4 beds 3 baths ∙ 2,974 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,974 Sqft ∙ Built 2010
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.74
    •  
  • 11603 Warfield Avenue Huntersville, NC 5
    • 4 beds 3 baths ∙ 3,053 Sqft ∙ Built 2013 4 beds 3 baths ∙ 3,053 Sqft ∙ Built 2013
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.75
    •  
PROPERTY LISTING DETAILS
Vanessa Faulk
1.704.412.9937
The Alexander Realty Group
BESbswy