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6105 Trailwater Road Charlotte, NC 28278

3 Beds 3 Baths 2,789 sqft Built 2014

$369,900

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $132.63
  • 11 Days on Market
  • MLS # : 3686291
  • Updated Date : 12/13/2020 at 20:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,789 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams South Park

Listing Agent's Description

Beautifully maintained home in amenity rich Berewick! Large kitchen with granite countertops, breakfast area and walk in pantry, is open to the spacious family room featuring a beautiful floor to ceiling stone gas fireplace. Walk through the double French doors and onto the stone accented patio - perfect for grilling in your private, landscaped backyard. Main level also features a formal dining room that could double as an office. Upstairs, you will find the master bedroom featuring a large bath with double sinks and a generously sized walk in closet; two additional bedrooms; a full size bathroom and a large laundry room with plenty of storage. Also on this level is a spacious SECOND LIVING AREA featuring a walk in closet - perfect for an office, a game room or could easily be converted to a 4th bedroom. Home is equipped with solar panels which will keep your utility bills lower than you thought possible. A whole house generator is wired to the solar panels and included with the home.

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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: Berewick

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Berewick

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8441914

* 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
Berewick Elementary School Primary Regular 601 38 6
Kennedy Middle School Middle Regular 722 43 4
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

Berewick Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 38
6
GreatSchools Rating

Kennedy Middle School

  • Education Level: Middle
  • # of students: 722
  • # of teachers: 43
4
GreatSchools Rating

Math, Engineering, Technology And Science At Olympic High School

  • Education Level: High
  • # of students: 607
  • # of teachers: 28
7
GreatSchools Rating
 

$332,910$406,890$369,900

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,365
Property Tax -$326
Property Insurance -$80
HOA -$67
Property Management Fees -$119
CASH FLOW
$34

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.

$369,900

PROJECTED PRICE

$1,990

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.0%
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$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$103,774

INVESTMENT

$103,774

Down Payment
$92,475
Rehab Estimate
$5,750
Closing Costs
$5,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,475
Loan Amount $277,425
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$30,070

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,106

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,990
1$1,9902$1,9953$2,0954$2,1755$2,195
$2,195
RENT COMPS ANALYSIS
  • 6105 Trailwater Road Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,789 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,789 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.71
    •  
  • 10109 Halkirk Manor Lane Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,696 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,696 Sqft ∙ Built 2005
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.74
    •  
  • 5908 Bonny Bridge Court Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2006
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.78
    •  
  • 10128 Halkirk Manor Lane Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,917 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,917 Sqft ∙ Built 2008
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.75
    •  
  • 6115 Breckfield Court Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,932 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,932 Sqft ∙ Built 2006
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.75
    •  
PROPERTY LISTING DETAILS
Pat Buff
1.704.617.3404
Keller Williams South Park
BESbswy