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11511 Carnsore Court Charlotte, NC 28214

4 Beds 3 Baths 2,430 sqft Built 2003

$278,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $114.40
  • 5 Days on Market
  • MLS # : 3707490
  • Updated Date : 02/11/2021 at 10:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,430 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Charlotte two-story home offers a two-car garage. This home is vacant and cleaned regularly.

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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: Harwood Lane

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $107k235k

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

Neighborhood: Harwood Lane

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8351518

* 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 Oaks Academy Primary Regular 611 36 5
Coulwood Middle School Middle Regular 694 45 7
West Mecklenburg High School High Regular 2,040 108 1

River Oaks Academy

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 36
5
GreatSchools Rating

Coulwood Middle School

  • Education Level: Middle
  • # of students: 694
  • # of teachers: 45
7
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating
 

$250,200$305,800$278,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$966
Property Tax -$242
Property Insurance -$72
HOA -$16
Property Management Fees -$119
CASH FLOW
$26

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.

$278,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.4%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,420

INVESTMENT

$79,420

Down Payment
$69,500
Rehab Estimate
$5,750
Closing Costs
$4,170

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$966

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,500
Loan Amount $208,500
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$16,285

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $1,544

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,440
1$1,4402$1,5003$1,5004$1,5655$1,595
$1,595
RENT COMPS ANALYSIS
  • 11511 Carnsore Court Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,358 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,358 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.61
    •  
  • 1921 Double Cedar Drive Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 2006
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.65
    •  
  • 711 Pawley Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2001
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.68
    •  
  • 11539 Carnsore Court Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2003
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.66
    •  
  • 1516 Bray Drive Charlotte, NC 5
    • 3 beds 3 baths ∙ 2,542 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,542 Sqft ∙ Built 2007
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.63
    •  
PROPERTY LISTING DETAILS
Verria Hairston
1.704.751.0133
Opendoor Brokerage Llc
BESbswy