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11841 Royal Castle Court Charlotte, NC 28277

3 Beds 3 Baths 2,433 sqft Built 2003

$380,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $156.19
  • 6 Days on Market
  • MLS # : 3700197
  • Updated Date : 01/22/2021 at 10:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,433 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Charlotte two-story home offers granite countertops and 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: Ballantyne West

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Ballantyne West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8442026

* 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
Ballantyne Elementary School Primary Regular 850 44 9
Community House Middle School Middle Regular 1,750 81 9
Ardrey Kell High School High Regular 2,701 127 9

Ballantyne Elementary School

  • Education Level: Primary
  • # of students: 850
  • # of teachers: 44
9
GreatSchools Rating

Community House Middle School

  • Education Level: Middle
  • # of students: 1,750
  • # of teachers: 81
9
GreatSchools Rating

Ardrey Kell High School

  • Education Level: High
  • # of students: 2,701
  • # of teachers: 127
9
GreatSchools Rating
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,320
Property Tax -$345
Property Insurance -$73
HOA -$70
Property Management Fees -$119
CASH FLOW
-$6

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.

$380,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.3%
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$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$21,627

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,001

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,920
1$1,9202$1,9503$1,9504$2,0005$2,250
$2,250
RENT COMPS ANALYSIS
  • 11841 Royal Castle Court Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,433 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,433 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.79
    •  
  • 11701 Kingsley View Drive Charlotte, NC 2
    • 4 beds 4 baths ∙ 2,550 Sqft ∙ Built 2002 4 beds 4 baths ∙ 2,550 Sqft ∙ Built 2002
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.76
    •  
  • 16020 Sunninghill Park Road Charlotte, NC 3
    • 4 beds 4 baths ∙ 2,480 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,480 Sqft ∙ Built 2004
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.79
    •  
  • 11729 Royal Castle Court Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,452 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,452 Sqft ∙ Built 2004
    LEASED 01/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.82
    •  
  • 16143 Lost Canyon Way Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 2016
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.92
    •  
PROPERTY LISTING DETAILS
Verria Hairston
1.704.751.0133
Opendoor Brokerage Llc
BESbswy