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9511 Yearwood Lane Charlotte, NC 28214

4 Beds 3 Baths 2,169 sqft Built 2001

$310,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $142.92
  • 2 Days on Market
  • MLS # : 3707737
  • Updated Date : 02/13/2021 at 14:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,169 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams South Park

Listing Agent's Description

This charming home located directly across from the front recreational area, is ready for immediate occupancy! Entire interior freshly painted including all trim and kitchen cabinets, as well as the screened porch and deck! Brand new manufactured hardwood flooring throughout main level. Carpet just 1 year old, roof 2 years, HVAC compressor 2017 and furnace 2019. Additional floored space in attic for storage. Extra deep lot with wooded area at rear of yard. Wonderful community amenities with low HOA dues.

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: Harwood Lane

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $107k235k

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

Neighborhood: Harwood Lane

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8351518

* 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
Mountain Island Lake Academy Primary Regular 727 47 3
Hopewell High School High Regular 1,653 87 3
Mountain Island Lake Academy Primary Unknown NA

Mountain Island Lake Academy

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 47
3
GreatSchools Rating

Hopewell High School

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

Mountain Island Lake Academy

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

$279,000$341,000$310,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,077
Property Tax -$270
Property Insurance -$68
HOA -$50
Property Management Fees -$119
CASH FLOW
$76

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.

$310,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.4%
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-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$21,838

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,703

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5503$1,6254$1,6605$1,795
$1,795
RENT COMPS ANALYSIS
  • 9511 Yearwood Lane Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,169 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,169 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.77
    •  
  • 9603 Corbett Square Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,022 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,022 Sqft ∙ Built 2002
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.74
    •  
  • 1515 Bitter Creek Drive Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,020 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,020 Sqft ∙ Built 2004
    property image
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.77
    •  
  • 2103 Copper Top Court Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,012 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,012 Sqft ∙ Built 2014
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.81
    •  
  • 2805 Winding River Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 2001
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.77
    •  
PROPERTY LISTING DETAILS
Gaye Vickers
1.704.458.0608
Keller Williams South Park
BESbswy