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11502 Whimbrel Court Charlotte, NC 28278

3 Beds 4 Baths 3,241 sqft Built 2017

$499,900

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $154.24
  • 19 Days on Market
  • MLS # : 3686971
  • Updated Date : 01/08/2021 at 00:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,241 sqft
  • Baths : 3 full , 1 half
Listing Agent

U Realty

Listing Agent's Description

Stunning & level 3241sf like-new ranch home with all necessary living spaces on the main floor. Great for buyers wanting to avoid stairs yet, wish to have extra space for their children and grandchildren. 3-car garage with extra large driveway to welcome many visitors and not worry about parking. This astonishing home features open floor plan with cozy family room. Gourmet kitchen with a massive island and a Breakfast nook and an office or study. Guest suite with full bath on main. Master suite on main designed to provide relaxation & privacy, features dual vanity, Large walk-in closet, oversized shower enclosure. 2nd floor features a 2nd large living space/game room and a private 3rd bedroom suite with walk-in closet & full bath. The community features clubhouse with pool & fitness center, walking trails, lake access for kayaks, playground, basketball & tennis courts. Minutes from many shoppings, restaurants, grocery stores, Charlotte Premium Outlets and McDowell Nature Preserve.

SEE MORE

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: Chapel Cove

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Chapel Cove

ZipNIR 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
Winget Park Elementary School Primary Regular 451 28 4
Southwest Middle School Middle Regular 1,403 72 6
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

Winget Park Elementary School

  • Education Level: Primary
  • # of students: 451
  • # of teachers: 28
4
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
 

$449,910$549,890$499,900

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$1,736
Property Tax -$495
Property Insurance -$88
HOA -$93
Property Management Fees -$119
CASH FLOW
$28

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.

$499,900

PROJECTED PRICE

$2,560

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.9%
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$1.6M

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,736

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$30,876

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,895

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,5003$2,5604$3,700
$3,700
RENT COMPS ANALYSIS
  • 11502 Whimbrel Court Charlotte, NC 3
    • 3 beds 4 baths ∙ 3,241 Sqft ∙ Built 2017 3 beds 4 baths ∙ 3,241 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $0.79
    •  
  • 13815 Allison Forest Trail Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,983 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,983 Sqft ∙ Built 2008
    property image
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.69
    •  
  • 13209 Horned Lark Drive Charlotte, NC 2
    • 4 beds 4 baths ∙ 3,003 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,003 Sqft ∙ Built 2014
    property image
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.83
    •  
  • 10108 Saw Mill Road Charlotte, NC 4
    • 3 beds 4 baths ∙ 3,200 Sqft ∙ Built 2017 3 beds 4 baths ∙ 3,200 Sqft ∙ Built 2017
    property image
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.16
    •  
PROPERTY LISTING DETAILS
Bryan Tan
1.704.248.6159
U Realty
BESbswy