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6005 Brookfield Court Matthews, NC 28104

4 Beds 3 Baths 2,314 sqft Built 2005

$360,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $155.57
  • 6 Days on Market
  • MLS # : 3721364
  • Updated Date : 03/26/2021 at 15:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,314 sqft
  • Baths : 2 full , 1 half
Listing Agent

Helen Adams Realty

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: Chestnut Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $118k338k

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

Neighborhood: Chestnut Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8441905

* 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
Indian Trail Elementary School Primary Regular 682 41 9
Sun Valley Middle School Middle Regular 1,365 69 6
Sun Valley High School High Regular 1,306 76 7

Indian Trail Elementary School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 41
9
GreatSchools Rating

Sun Valley Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 69
6
GreatSchools Rating

Sun Valley High School

  • Education Level: High
  • # of students: 1,306
  • # of teachers: 76
7
GreatSchools Rating
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,250
Property Tax -$239
Property Insurance -$71
HOA -$48
Property Management Fees -$119
CASH FLOW
$363

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.

$360,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 8.9%
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$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

11

YEARS SAVED

$59,400

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,083

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,845
1$1,8452$2,0003$2,0904$2,1505$2,300
$2,300
RENT COMPS ANALYSIS
  • 6005 Brookfield Court Matthews, NC 3
    • 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.90
    •  
  • 1323 Privett Park Place Matthews, NC 1
    • 3 beds 3 baths ∙ 2,130 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,130 Sqft ∙ Built 2018
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.87
    •  
  • 5132 Craftsman Ridge Drive Stallings, NC 2
    • 4 beds 3 baths ∙ 2,289 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,289 Sqft ∙ Built 2006
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.87
    •  
  • 4125 Cedar Point Avenue Matthews, NC 4
    • 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 2005
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.94
    •  
  • 6122 Hampstead Pond Lane Matthews, NC 5
    • 4 beds 4 baths ∙ 2,498 Sqft ∙ Built 2021 4 beds 4 baths ∙ 2,498 Sqft ∙ Built 2021
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.92
    •  
PROPERTY LISTING DETAILS
Joel Bennett
1.704.519.9977
Helen Adams Realty
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3721364
Last Updated: 03/26/2021
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