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

11415 Mcginns Trace Court Charlotte, NC 28277

4 Beds 3 Baths 2,632 sqft Built 1998

$403,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $153.12
  • 3 Days on Market
  • MLS # : 3700088
  • Updated Date : 03/13/2021 at 17:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,632 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This Beautiful spacious home is located in the Heart of Ballantyne at the end of a private cul-de-sac. Within walking distance to shopping, restaurants and entertainment. This Shea built home has a welcoming covered front porch, two story foyer with beautiful hardwoods. Formal living and dining room. Large Den with fireplace open to kitchen. Kitchen has a large walk-in pantry, island and counters with neutral granite and modern tile back splash. Four bedrooms and a large bonus room that can be utilized as a fifth bedroom. Brand new carpet throughout. This desirable neighborhood has a walking trail, playground and community picnic area. Welcome Home.

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
Ballantyne Elementary School Primary Regular 850 44 9
Community House Middle School Middle Regular 1,750 81 9
Ardrey Kell High School High Regular 2,701 127 9

Ballantyne Elementary School

  • Education Level: Primary
  • # of students: 850
  • # of teachers: 44
9
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
 

$362,700$443,300$403,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,400
Property Tax -$384
Property Insurance -$77
HOA -$48
Property Management Fees -$119
CASH FLOW
-$17

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.

$403,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.3%
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$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$112,545

INVESTMENT

$112,545

Down Payment
$100,750
Rehab Estimate
$5,750
Closing Costs
$6,045

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,400

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,750
Loan Amount $302,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$22,130

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,000

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,888
1$1,8882$1,8953$1,9504$1,9505$2,010
$2,010
RENT COMPS ANALYSIS
  • 11415 Mcginns Trace Court Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.76
    •  
  • 11922 Dupplin Castle Court Charlotte, NC 1
    • 3 beds 4 baths ∙ 2,585 Sqft ∙ Built 2005 3 beds 4 baths ∙ 2,585 Sqft ∙ Built 2005
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,888
    • $0.73
    •  
  • 11427 Mcginns Trace Court Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,482 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,482 Sqft ∙ Built 1998
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.76
    •  
  • 11701 Kingsley View Drive Charlotte, NC 3
    • 4 beds 4 baths ∙ 2,550 Sqft ∙ Built 2002 4 beds 4 baths ∙ 2,550 Sqft ∙ Built 2002
    property image
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.76
    •  
  • 16020 Sunninghill Park Road Charlotte, NC 4
    • 4 beds 4 baths ∙ 2,480 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,480 Sqft ∙ Built 2004
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.79
    •  
PROPERTY LISTING DETAILS
Darlene Putz
1.704.998.7383
Coldwell Banker Realty
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3700088
Last Updated: 03/13/2021
BESbswy