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6009 Hyde Park Drive Indian Trail, NC 28079

3 Beds 2 Baths 2,456 sqft Built 2013

$419,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $170.60
  • 6 Days on Market
  • MLS # : 3718401
  • Updated Date : 03/19/2021 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,456 sqft
  • Baths : 2 full
Listing Agent

Wilkinson Era Real Estate

Listing Agent's Description

Move-in ready, well maintain home. One level living at its best with front porch and covered back porch with fan. Great location with nearby restaurants and shopping. Upon entry note the beautiful moulding and columns. A living room/office/flex space is to your right. Additional bedrooms with large guest bath.. Bdrm2 has its own entry to this bath via a pocket door. Bdrm3 light and bright. Both bedrooms are sizable with walk-in closets. Formal dining room is just to your left and grand family room with stone fireplace is an awesome space for entertaining or chilling. Surround sound. The well appointed kitchen with a 9' island and prep space, lots of storage, pantry and separate dining area should make the perfect place to not only prepare meals but enjoy the meals. Double doors to the owner suite and bath just highlights the beautiful architect of this home. The owner's bath has a water closet, jacuzzi tub, tiled shower and double sink vanity. The XL closet comes with organizers.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Crismark

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $118k324k

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

Neighborhood: Crismark

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8441917

* 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
Hemby Bridge Elementary School Primary Regular 496 31 6
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Hemby Bridge Elementary School

  • Education Level: Primary
  • # of students: 496
  • # of teachers: 31
6
GreatSchools Rating

Porter Ridge Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 72
7
GreatSchools Rating

Porter Ridge High School

  • Education Level: High
  • # of students: 1,591
  • # of teachers: 77
7
GreatSchools Rating
 

$377,100$460,900$419,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,455
Property Tax -$274
Property Insurance -$73
HOA -$42
Property Management Fees -$119
CASH FLOW
-$104

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.

$419,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

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$116,785

INVESTMENT

$116,785

Down Payment
$104,750
Rehab Estimate
$5,750
Closing Costs
$6,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,455

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,750
Loan Amount $314,250
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$17,819

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,971

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8603$1,9504$2,1455$2,150
$2,150
RENT COMPS ANALYSIS
  • 6009 Hyde Park Drive Indian Trail, NC 2
    • 3 beds 2 baths ∙ 2,456 Sqft ∙ Built 2013 3 beds 2 baths ∙ 2,456 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.76
    •  
  • 6003 Paddle Wheel Lane Indian Trail, NC 1
    • 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 2004
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.74
    •  
  • 3017 Early Rise Avenue Indian Trail, NC 3
    • 4 beds 3 baths ∙ 2,580 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,580 Sqft ∙ Built 2003
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.76
    •  
  • 6005 Centerview Drive Indian Trail, NC 4
    • 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 2009
    LEASED 02/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $0.85
    •  
  • 2045 Caernarfon Lane Matthews, NC 5
    • 3 beds 3 baths ∙ 2,507 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,507 Sqft ∙ Built 1997
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.86
    •  
PROPERTY LISTING DETAILS
Yvette Rayford-cobb
1.704.393.0048
Wilkinson Era Real Estate
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3718401
Last Updated: 03/19/2021
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