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9912 Empire Woods Court Charlotte, NC 28277

5 Beds 3 Baths 2,664 sqft Built 2001

$415,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $155.78
  • 5 Days on Market
  • MLS # : 3716406
  • Updated Date : 03/13/2021 at 00:05
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,664 sqft
  • Baths : 3 full
Listing Agent

Keller Williams South Park

Listing Agent's Description

LOCATION! This house is located in a great neighborhood and a great area!!! Ready to move-in, this house has 5 bedrooms, 3 bathrooms and a very nice bonus rooms upstairs, which can be used as a bedroom, if needed. Great open space on the main floor, with a kitchen overlooking dining areas and family room, which has a cozy gas fireplace. Brand new dishwasher recently installed. Master bedroom has a nice walk-in closet, private master bathroom with a double sink, tub and shower. Home Warranty purchased by seller and will be transferred to buyer. This is an amazing opportunity!

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: Southampton

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $116k329k

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

Neighborhood: Southampton

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441882

* 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
Elon Park Elementary School Primary Regular 1,115 62 9
Community House Middle School Middle Regular 1,750 81 9
Ardrey Kell High School High Regular 2,701 127 9

Elon Park Elementary School

  • Education Level: Primary
  • # of students: 1,115
  • # of teachers: 62
9
GreatSchools Rating

Community House Middle School

  • Education Level: Middle
  • # of students: 1,750
  • # of teachers: 81
9
GreatSchools Rating

Ardrey Kell High School

  • Education Level: High
  • # of students: 2,701
  • # of teachers: 127
9
GreatSchools Rating
 

$373,500$456,500$415,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,441
Property Tax -$362
Property Insurance -$77
HOA -$46
Property Management Fees -$119
CASH FLOW
$225

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.

$415,000

PROJECTED PRICE

$2,270

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.8%
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$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$46,420

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,251

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2503$2,2504$2,2655$2,270
$2,270
RENT COMPS ANALYSIS
  • 9912 Empire Woods Court Charlotte, NC 5
    • 5 beds 3 baths ∙ 2,664 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,664 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.85
    •  
  • 9928 Empire Woods Court Charlotte, NC 1
    • 5 beds 3 baths ∙ 2,662 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,662 Sqft ∙ Built 2001
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.82
    •  
  • 10803 Chamberlain Hall Court Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,662 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,662 Sqft ∙ Built 2001
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.85
    •  
  • 11111 Travis Gulch Drive Charlotte, NC 3
    • 5 beds 3 baths ∙ 2,573 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,573 Sqft ∙ Built 2001
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.87
    •  
  • 17307 Commons Crossing Drive Charlotte, NC 4
    • 5 beds 3 baths ∙ 2,698 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,698 Sqft ∙ Built 1999
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,265
    • $0.84
    •  
PROPERTY LISTING DETAILS
Veronica Diquez
1.561.809.1769
Keller Williams South Park
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3716406
Last Updated: 03/13/2021
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