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11907 Downy Birch Road Charlotte, NC 28227

4 Beds 3 Baths 2,280 sqft Built 2014

$255,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $111.84
  • 2 Days on Market
  • MLS # : 3682777
  • Updated Date : 11/21/2020 at 11:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,280 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams University City

Listing Agent's Description

Well maintained 2 story home in the Woodbury subdivision. This home features stainless steel appliances and granite counter tops in the kitchen along with dinning area that connects to living room. The main level also features the laundry room and 1 bedroom/office on the main level along with half bathroom. The 2nd level features 3 bedrooms including the master bedroom. The home also features 2 car garage and nicely sized back yard.

SEE MORE

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: Bradfield Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230kPrice in $113k235k

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

Neighborhood: Bradfield Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8421518

* 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
J.h. Gunn Elementary School Primary Regular 695 42 2
Albemarle Road Middle School Middle Regular 1,198 64 2
Rocky River High School High Regular 1,710 90 3

J.h. Gunn Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 42
2
GreatSchools Rating

Albemarle Road Middle School

  • Education Level: Middle
  • # of students: 1,198
  • # of teachers: 64
2
GreatSchools Rating

Rocky River High School

  • Education Level: High
  • # of students: 1,710
  • # of teachers: 90
3
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$941
Property Tax -$244
Property Insurance -$70
HOA -$40
Property Management Fees -$148
CASH FLOW
$197

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.

$255,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.9%
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$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$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$30,774

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,659

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,6404$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 11907 Downy Birch Road Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,280 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,280 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.72
    •  
  • 9828 Aventide Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,275 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,275 Sqft ∙ Built 2000
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.68
    •  
  • 8609 Balsam Bay Road Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2015
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.71
    •  
  • 12926 Longstraw Road Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2015
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.73
    •  
  • 11815 Bending Branch Road Charlotte, NC 5
    • 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 2008
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.77
    •  
PROPERTY LISTING DETAILS
Kenyon Harris
1.980.477.0769
Keller Williams University City
BESbswy