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9211 Darbyshire Place Charlotte, NC 28216

3 Beds 3 Baths 1,620 sqft Built 1996

$230,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $141.98
  • 2 Days on Market
  • MLS # : 3678754
  • Updated Date : 11/02/2020 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,620 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lantern Realty & Development Llc

Listing Agent's Description

Well kept home located in a quiet cul-de-sac less than 5 minutes from Hwy 485 and 77. When you walk into this you're greeted by the large family room and cozy fireplace, beyond that you will find a formal sitting/dining area. Upstairs you will find a large owners suite with walk in closet as well as two other generously sized bedrooms. The flooring in both upstairs bathrooms as well as the kitchen have recently been replaced. Out the back door there is a well maintained back yard with a nice sized patio area for relaxing.

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: Northlake

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $107k318k

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

Neighborhood: Northlake

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
Long Creek Elementary School Primary Regular 455 31 6
Francis Bradley Middle School Middle Regular 1,140 59 6
Hopewell High School High Regular 1,653 87 3

Long Creek Elementary School

  • Education Level: Primary
  • # of students: 455
  • # of teachers: 31
6
GreatSchools Rating

Francis Bradley Middle School

  • Education Level: Middle
  • # of students: 1,140
  • # of teachers: 59
6
GreatSchools Rating

Hopewell High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 87
3
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$849
Property Tax -$201
Property Insurance -$58
HOA -$12
Property Management Fees -$118
CASH FLOW
$73

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.

$230,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 8.9%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$20,076

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,365

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,310
1$1,3102$1,3953$1,3954$1,3955$1,420
$1,420
RENT COMPS ANALYSIS
  • 9211 Darbyshire Place Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.81
    •  
  • 8922 Trentsby Place Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,781 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,781 Sqft ∙ Built 1997
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.78
    •  
  • 9100 Shenington Place Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,602 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,602 Sqft ∙ Built 1998
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.87
    •  
  • 7925 Ambleside Drive Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1996
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.85
    •  
  • 8126 Belmont Stables Drive Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,640 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,640 Sqft ∙ Built 2005
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.87
    •  
PROPERTY LISTING DETAILS
Ethan Stillinger
1.704.957.1282
Lantern Realty & Development Llc
BESbswy