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4806 Quail Canyon Drive Charlotte, NC 28226

4 Beds 3 Baths 2,332 sqft Built 1983

$435,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $186.54
  • 2 Days on Market
  • MLS # : 3657504
  • Updated Date : 01/02/2021 at 15:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,332 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Executive

Listing Agent's Description

New Craftsman Style Home UPDATED & Ready for you! Walk onto beautiful engineered wood flooring throughout most of the main living area. Sunken, HUGE Great room w/Accent Beam, Vaulted Ceilings, Stone Accented FP & Ceiling Fan. This Area is OPEN to the Custom Wet-Bar & Dining Area w/Designer light fixture. Walk into the BRAND NEW KITCHEN! Features you will find are: New White Shaker 42"Cabinets,Exotic Granite,NEW SS Appls, Designer Back-splash,Island w/Bar Sitting & Recessed lighting! Kitchen & Breakfast Area is OPEN to the HUGE Family room. Enjoy Nature inside your NEW Screen Porch w/Fan! MASTER is HUGE & on the MAIN Floor! Luxury Master Bath w/NEW Vanity, Sunken Bath-tub, Custom walk-in shower & Walk-in Closet. Laundry is on the Main Floor w/chute from above! UP: 3 Guest Suites all are a GREAT size! Custom Dressing area attached to the Guest Bath w/2 NEW Granite Vanities, Designer Tile Floors, Tub-shower combo w/white subway tile. Backyard is PRIVATE & Fenced! Beautiful Home, Come SEE!

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: Carmel

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $116k374k

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

Neighborhood: Carmel

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8442083

* 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
Beverly Woods Elementary School Primary Regular 758 40 8
Carmel Middle School Middle Regular 1,050 58 7
South Mecklenburg High School High Regular 2,913 147 7

Beverly Woods Elementary School

  • Education Level: Primary
  • # of students: 758
  • # of teachers: 40
8
GreatSchools Rating

Carmel Middle School

  • Education Level: Middle
  • # of students: 1,050
  • # of teachers: 58
7
GreatSchools Rating

South Mecklenburg High School

  • Education Level: High
  • # of students: 2,913
  • # of teachers: 147
7
GreatSchools Rating
 

$391,500$478,500$435,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,605
Property Tax -$379
Property Insurance -$71
HOA -$5
Property Management Fees -$119
CASH FLOW
-$10

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.

$435,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.6%
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

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$121,025

INVESTMENT

$121,025

Down Payment
$108,750
Rehab Estimate
$5,750
Closing Costs
$6,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,605

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,750
Loan Amount $326,250
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$31,645

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,326

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1703$2,3004$2,3505$2,495
$2,495
RENT COMPS ANALYSIS
  • 4806 Quail Canyon Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,332 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,332 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.93
    •  
  • 2939 Notchview Court Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,238 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,238 Sqft ∙ Built 1991
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.94
    •  
  • 4934 Quail Canyon Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 1984
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.06
    •  
  • 4833 Dawnridge Drive Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,640 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,640 Sqft ∙ Built 1986
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.89
    •  
  • 5733 Connor Boulevard Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 1978
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.05
    •  
PROPERTY LISTING DETAILS
Cherie Burris
1.803.370.2426
Re/max Executive
BESbswy