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11825 Withers Mill Drive Charlotte, NC 28278

4 Beds 3 Baths 2,125 sqft Built 1998

$334,900

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $157.60
  • 2 Days on Market
  • MLS # : 3696803
  • Updated Date : 01/09/2021 at 12:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,125 sqft
  • Baths : 2 full , 1 half
Listing Agent

National Real Estate

Listing Agent's Description

Gorgeous 4 Bedroom MOVE IN READY HOME with Brand New Pool and Back Yard Oasis!! All Updates are Recent inside !New Roof in 2011,New HVAC Complete in 2015,New High Capacity Water Heater in 2018,New Laminate Hardwood floors added upstairs Completely in 2018,New Granite ,Back splash, SS Appliances and Complete Paint in 2018! Pool and Deck installed August 2020 ! Homes Shows Extremely Well! This Home is Tucked Away in Quiet Subdivision and Backs Up to TM Winget Park with Private Entrance To Walking Trails! Minutes Away From Shopping ,Restaurants, Rivergate and Premium Outlets! Will Not Last!

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
 

$301,410$368,390$334,900

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,163
Property Tax -$292
Property Insurance -$67
HOA -$22
Property Management Fees -$119
CASH FLOW
$87

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.

$334,900

PROJECTED PRICE

$1,750

PROJECTED RENT

0.52%

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$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$94,499

INVESTMENT

$94,499

Down Payment
$83,725
Rehab Estimate
$5,750
Closing Costs
$5,024

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,163

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,725
Loan Amount $251,175
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$28,190

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,812

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7253$1,7254$1,7505$1,850
$1,850
RENT COMPS ANALYSIS
  • 11825 Withers Mill Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,125 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,125 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.82
    •  
  • 12723 Walking Stick Drive Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,001 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,001 Sqft ∙ Built 2002
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.80
    •  
  • 13223 Planters Row Drive Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,026 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,026 Sqft ∙ Built 2001
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.85
    •  
  • 12929 Beddingfield Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,956 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,956 Sqft ∙ Built 2004
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.88
    •  
  • 13221 Winslow Hills Drive Charlotte, NC 5
    • 3 beds 2 baths ∙ 2,066 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,066 Sqft ∙ Built 2005
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.90
    •  
PROPERTY LISTING DETAILS
John Dietrich
1.704.724.5907
National Real Estate
BESbswy