Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

4605 Sunburst Lane Charlotte, NC 28213

4 Beds 3 Baths 1,938 sqft Built 2017

$310,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

December 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $159.96
  • 2 Days on Market
  • MLS # : 3692696
  • Updated Date : 12/19/2020 at 21:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,938 sqft
  • Baths : 2 full , 1 half
Listing Agent

Clickit Realty

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: Back Creek Church Road

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Back Creek Church Road

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
Stoney Creek Elementary School Primary Regular 853 50 4
James Martin Middle School Middle Regular 1,113 54 3
Vance High School High Regular 1,714 91 3

Stoney Creek Elementary School

  • Education Level: Primary
  • # of students: 853
  • # of teachers: 50
4
GreatSchools Rating

James Martin Middle School

  • Education Level: Middle
  • # of students: 1,113
  • # of teachers: 54
3
GreatSchools Rating

Vance High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 91
3
GreatSchools Rating
 

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

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,144
Property Tax -$270
Property Insurance -$64
HOA -$32
Property Management Fees -$119
CASH FLOW
-$19

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.

$310,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.4%
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

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 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$21,173

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,584

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5503$1,5954$1,6105$1,675
$1,675
RENT COMPS ANALYSIS
  • 4605 Sunburst Lane Charlotte, NC 4
    • 4 beds 3 baths ∙ 1,938 Sqft ∙ Built 2017 4 beds 3 baths ∙ 1,938 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.83
    •  
  • 4010 Woolcott Avenue Charlotte, NC 1
    • 4 beds 3 baths ∙ 1,829 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,829 Sqft ∙ Built 2001
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.79
    •  
  • 5939 Aldersgate Avenue Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,961 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,961 Sqft ∙ Built 2005
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.79
    •  
  • 4928 Abendego Road Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 2018
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.82
    •  
  • 1118 Rankin Oaks Street Charlotte, NC 5
    • 4 beds 3 baths ∙ 1,956 Sqft ∙ Built 2018 4 beds 3 baths ∙ 1,956 Sqft ∙ Built 2018
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.86
    •  
PROPERTY LISTING DETAILS
Susan Ayers
1.888.875.4218
Clickit Realty
BESbswy