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11715 Planters Estates Drive Charlotte, NC 28278

4 Beds 3 Baths 2,238 sqft Built 2002

$287,900

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $128.64
  • 3 Days on Market
  • MLS # : 3680080
  • Updated Date : 11/06/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,238 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bipin Parekh Realty, Llc

Listing Agent's Description

Wonderful home in a sought after location! Come and see this well maintained two story open floor plan for a cozy and comfortable lifestyle. Home features two story foyer, upgraded recessed lighting in kitchen; Master bedroom has tray ceiling, luxury bath with tile surround shower, garden tub, double vanity and walk-in closet. Home has an abundance of Natural Light, making it a bright and cheerful environment. Community is only minutes away from local dining, shopping, close to schools, shopping, parks, and Lake Wylie. Communities amenities include trails, outdoor pool and playground. Home has large backyard.

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: Steele Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Steele Creek

NeighborhoodNIR 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
 

$259,110$316,690$287,900

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,062
Property Tax -$251
Property Insurance -$69
HOA -$36
Property Management Fees -$151
CASH FLOW
$110

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.

$287,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,044

INVESTMENT

$82,044

Down Payment
$71,975
Rehab Estimate
$5,750
Closing Costs
$4,319

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,062

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,975
Loan Amount $215,925
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$27,237

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,751

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6803$1,7454$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 11715 Planters Estates Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,238 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,238 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.75
    •  
  • 13421 Stones Landing Street Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,057 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,057 Sqft ∙ Built 2005
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.78
    •  
  • 13117 Fenceline Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 2007
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.75
    •  
  • 12723 Winget Road Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,240 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,240 Sqft ∙ Built 2000
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.78
    •  
  • 9008 Griers Pasture Drive Charlotte, NC 5
    • 4 beds 2 baths ∙ 2,250 Sqft ∙ Built 2011 4 beds 2 baths ∙ 2,250 Sqft ∙ Built 2011
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.80
    •  
PROPERTY LISTING DETAILS
Sam Chhatrala
1.980.253.3504
Bipin Parekh Realty, Llc
BESbswy