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11919 Mourning Dove Lane #128 Charlotte, NC 28269

4 Beds 2 Baths 1,953 sqft Built 1997

$260,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $133.13
  • 3 Days on Market
  • MLS # : 3679607
  • Updated Date : 11/07/2020 at 16:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,953 sqft
  • Baths : 2 full
Listing Agent

Wilson Realty

Listing Agent's Description

Beautifully updated 4 bedroom 2 bathroom home in sought after Robyns Glen. Fresh grey paint palette throughout the home. Kitchen renovation features new granite countertops, under cabinet lighting, new tile backsplash and large pantry with shelving. Bright dining room with classic wainscoting flows into the great room. The spacious great room is equipped with built-ins and a gas fireplace. Master suite has vaulted ceilings, large master closet with custom shelving installed. Gorgeous master bath with updated luxury walk-in shower, new tile throughout and dual vanity. This home has 3 additional spacious bedrooms, one of which has French doors and can be utilized as an office depending on your needs. The HVAC system was replaced less than 5 years ago. The house is equipped with a sprinkler system, fully fenced in backyard with mature trees and landscaping. This quiet and friendly neighborhood is just a short distance to a beautiful park, close access to 485, shopping and restaurants.

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: Highland Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Highland 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
Parkside Elementary School Primary Regular NA
Ridge Road Middle School Middle Regular 1,285 65 6
Mallard Creek High School High Regular 2,472 123 6

Parkside Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Ridge Road Middle School

  • Education Level: Middle
  • # of students: 1,285
  • # of teachers: 65
6
GreatSchools Rating

Mallard Creek High School

  • Education Level: High
  • # of students: 2,472
  • # of teachers: 123
6
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$959
Property Tax -$227
Property Insurance -$64
HOA -$15
Property Management Fees -$140
CASH FLOW
$155

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.

$260,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.9%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$30,951

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,611

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5503$1,5604$1,5655$1,735
$1,735
RENT COMPS ANALYSIS
  • 11919 Mourning Dove Lane Charlotte, NC 3
    • 4 beds 2 baths ∙ 1,953 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,953 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.80
    •  
  • 12033 Mourning Dove Lane Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 1996
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.80
    •  
  • 12714 Candle Leaf Court Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,917 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,917 Sqft ∙ Built 2001
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.81
    •  
  • 3408 Balsam Tree Drive Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 2001
    property image
    LEASED 01/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.84
    •  
  • 6115 Downfield Wood Drive Charlotte, NC 5
    • 3 beds 3 baths ∙ 2,034 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,034 Sqft ∙ Built 1995
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,735
    • $0.85
    •  
PROPERTY LISTING DETAILS
Michael Mcquirk
1.214.960.6784
Wilson Realty
BESbswy