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11827 Springpoint Lane #56 Charlotte, NC 28278

5 Beds 4 Baths 2,539 sqft Built 2015

$415,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

December 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $163.45
  • 8 Days on Market
  • MLS # : 3692755
  • Updated Date : 12/22/2020 at 19:06
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,539 sqft
  • Baths : 4 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Welcome Home to the highly sought after Riverwood Community close to the Premium Outlets, Rivergate I-485 and Charlotte Douglas! A community that offers PRIVATE community access to Lake Wylie Complete with a picnic area. This spacious yet inviting home boasts 5 bedrooms, 4 bathrooms AND a completely finished basement. This home has it ALL - an open floor plan, a gas log fireplace, SS appliances, an extensive breakfast bar, a spacious master with walk in closet and en suite bathroom, a large loft, tray ceilings in several rooms, a walk out balcony, deck and fenced backyard. Live, Shop, Eat and Entertain! This home has it all! Schedule your showing today!

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: Dixie - Berryhill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $113k283k

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

Neighborhood: Dixie - Berryhill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8421595

* 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
 

$373,500$456,500$415,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,531
Property Tax -$362
Property Insurance -$73
HOA -$45
Property Management Fees -$119
CASH FLOW
$10

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.

$415,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 4.6%
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$1.2M

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$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$26,884

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,731

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,7504$1,7755$2,140
$2,140
RENT COMPS ANALYSIS
  • 11827 Springpoint Lane Charlotte, NC 5
    • 5 beds 4 baths ∙ 2,429 Sqft ∙ Built 2015 5 beds 4 baths ∙ 2,429 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.88
    •  
  • 10826 Mountain Springs Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2005
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.71
    •  
  • 10705 Mountain Springs Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,273 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,273 Sqft ∙ Built 2004
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.73
    •  
  • 6633 Evanton Loch Road Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,585 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,585 Sqft ∙ Built 2005
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.68
    •  
  • 10631 Bedlington Road Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 2007
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.70
    •  
PROPERTY LISTING DETAILS
Tiffany Cherry
1.704.712.4999
Exp Realty Llc
BESbswy