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11924 Antebellum Drive Charlotte, NC 28273

4 Beds 3 Baths 1,916 sqft Built 1974

$285,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $148.75
  • 4 Days on Market
  • MLS # : 3681893
  • Updated Date : 12/18/2020 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,916 sqft
  • Baths : 2 full , 1 half
Listing Agent

Joseph Randall Realty Llc

Listing Agent's Description

Renovated and move-in ready! Spacious home with formal dining and separate living and family rooms. Beautiful eat-in kitchen with stainless steel appliances, new quartz countertops and copper accent finishes. Bedrooms are spacious with ample closet space. Plenty of choices for a home office! New lighting, fixtures, flooring, and appliances. Freshly painted throughout. Brand new double-hung vinyl windows! 450 square foot screened in porch with access to kitchen, back yard and parking area, complete with ceiling fans, outlets and indoor/outdoor carpet. Great for entertaining! Huge 2-car garage with workshop space and extra driveway parking. Fenced yard. Close to shopping, freeways, airport, schools, and less than 20 minutes to uptown. Schedule a showing today!

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: Griers Fork

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Griers Fork

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771518

* 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
Lake Wylie Elementary School Primary Regular 632 39 6
Kennedy Middle School Middle Regular 722 43 4
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

Lake Wylie Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 39
6
GreatSchools Rating

Kennedy Middle School

  • Education Level: Middle
  • # of students: 722
  • # of teachers: 43
4
GreatSchools Rating

Math, Engineering, Technology And Science At Olympic High School

  • Education Level: High
  • # of students: 607
  • # of teachers: 28
7
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,052
Property Tax -$248
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$168

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.

$285,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
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$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$36,495

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,605

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4953$1,5504$1,5865$1,650
$1,650
RENT COMPS ANALYSIS
  • 11924 Antebellum Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 1,916 Sqft ∙ Built 1974 4 beds 3 baths ∙ 1,916 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
  • 13933 Brownfield Trail Court Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1998
    LEASED 06/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.83
    •  
  • 11730 Musket Lane Charlotte, NC 2
    • 4 beds 3 baths ∙ 1,813 Sqft ∙ Built 1979 4 beds 3 baths ∙ 1,813 Sqft ∙ Built 1979
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.82
    •  
  • 11632 Larix Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,829 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,829 Sqft ∙ Built 1999
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.85
    •  
  • 11410 Larix Drive Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,859 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,859 Sqft ∙ Built 2000
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,586
    • $0.85
    •  
PROPERTY LISTING DETAILS
Joe Brancatto
1.704.575.5674
Joseph Randall Realty Llc
BESbswy