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

11417 Park Road Charlotte, NC 28226

3 Beds 2 Baths 1,416 sqft Built 1979

$314,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $221.75
  • 7 Days on Market
  • MLS # : 3712476
  • Updated Date : 03/06/2021 at 11:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,416 sqft
  • Baths : 2 full
Listing Agent

Realty One Group Revolution

Listing Agent's Description

Don’t miss this beautiful, completely renovated home featuring 3 Beds and 2 Baths off of 485, exit 64A. The home boasts new everything, including kitchen cabinets, counters, appliances, floors, HVAC and roof! This is living new and custom in the best possible way. This home is the perfect home for any family and won’t be on the market long. Fireplace selling " As is" Listing agent related to seller.

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: Hwy 51 - Park Road

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $102k235k

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

Neighborhood: Hwy 51 - Park Road

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8421518

* 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
Pineville Elementary School Primary Regular 811 45 7
Quail Hollow Middle School Middle Regular 946 51 3
South Mecklenburg High School High Regular 2,913 147 7

Pineville Elementary School

  • Education Level: Primary
  • # of students: 811
  • # of teachers: 45
7
GreatSchools Rating

Quail Hollow Middle School

  • Education Level: Middle
  • # of students: 946
  • # of teachers: 51
3
GreatSchools Rating

South Mecklenburg High School

  • Education Level: High
  • # of students: 2,913
  • # of teachers: 147
7
GreatSchools Rating
 

$282,600$345,400$314,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,091
Property Tax -$288
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
-$81

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$314,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$88,960

INVESTMENT

$88,960

Down Payment
$78,500
Rehab Estimate
$5,750
Closing Costs
$4,710

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,091

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,500
Loan Amount $235,500
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$10,656

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,471

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4503$1,4704$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 11417 Park Road Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $1.06
    •  
  • 8205 Meadowind Circle Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 3 beds 2 baths ∙ 1,404 Sqft ∙ Built
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.00
    •  
  • 11800 Mirror Lake Drive Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1974
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.12
    •  
  • 11205 Vintage Lane Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 1978
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 10932 Copper Field Drive Pineville, NC 5
    • 3 beds 2 baths ∙ 1,297 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,297 Sqft ∙ Built 1981
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.16
    •  
PROPERTY LISTING DETAILS
Alexandra Leal
1.803.487.5851
Realty One Group Revolution
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3712476
Last Updated: 03/06/2021
BESbswy