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6000 Sharon Road Charlotte, NC 28210

3 Beds 2 Baths 2,461 sqft Built 1946

$490,000

List Price

$2,590

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1946
  • Price/Sqft : $199.11
  • 11 Days on Market
  • MLS # : 3676062
  • Updated Date : 10/30/2020 at 09:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,461 sqft
  • Baths : 2 full
Listing Agent

Cottingham Chalk

Listing Agent's Description

Lovely Beverly Woods home loaded with character! This spacious 3 bedroom, 2 bath home features 9 ft ceilings, beautiful hardwoods and molding throughout main level. Inviting foyer leads to spacious formal spaces and sunlit kitchen with white cabinetry, granite countertops, tile backsplash and gas range. Second floor bonus area perfect for play room, work from home, or additional living space. All nestled on large lot with fenced in backyard, patio, and 2 car garage. Minutes to shopping, dining, entertainment, and highways!

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: Beverly Woods

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k462k

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

Neighborhood: Beverly Woods

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $8442403

* 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
 

$441,000$539,000$490,000

PURCHASE PRICE

$2,331$2,849$2,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,590
EXPENSES Loan Payment -$1,808
Property Tax -$450
Property Insurance -$73
Property Management Fees -$233
CASH FLOW
$26

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.

$490,000

PROJECTED PRICE

$2,590

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.8%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,600

INVESTMENT

$135,600

Down Payment
$122,500
Rehab Estimate
$5,750
Closing Costs
$7,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,500
Loan Amount $367,500
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$31,915

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,590

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,615

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5903$2,7954$2,8505$2,900
$2,900
RENT COMPS ANALYSIS
  • 6000 Sharon Road Charlotte, NC 2
    • 3 beds 2 baths ∙ 2,461 Sqft ∙ Built 1946 3 beds 2 baths ∙ 2,461 Sqft ∙ Built 1946
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $1.05
    •  
  • 3335 Knob Hill Court Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,557 Sqft ∙ Built 1960 4 beds 3 baths ∙ 2,557 Sqft ∙ Built 1960
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.94
    •  
  • 3811 Ashton Drive Charlotte, NC 3
    • 3 beds 2 baths ∙ 2,526 Sqft ∙ Built 1967 3 beds 2 baths ∙ 2,526 Sqft ∙ Built 1967
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.11
    •  
  • 3801 Ashton Drive Charlotte, NC 4
    • 3 beds 2 baths ∙ 2,646 Sqft ∙ Built 1967 3 beds 2 baths ∙ 2,646 Sqft ∙ Built 1967
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.08
    •  
  • 6232 Sharon Road Charlotte, NC 5
    • 3 beds 4 baths ∙ 2,616 Sqft ∙ Built 1959 3 beds 4 baths ∙ 2,616 Sqft ∙ Built 1959
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.11
    •  
PROPERTY LISTING DETAILS
Heather Montgomery
1.704.288.6690
Cottingham Chalk
BESbswy