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6111 Yellowood Road Charlotte, NC 28210

4 Beds 3 Baths 2,260 sqft Built 1968

$490,000

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $216.81
  • 3 Days on Market
  • MLS # : 3682386
  • Updated Date : 11/13/2020 at 16:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,260 sqft
  • Baths : 2 full , 1 half
Listing Agent

Hl Real Estate Group, Llc

Listing Agent's Description

Tucked away in Southpark you'll find Sharon Hills - minutes from shopping & dining, Quail Hollow golf course, Ballantyne and Uptown! This two story home gives you lots of extra space in the basement! Hardwoods throughout entire home, no carpet. Updated Quartz countertops with white cabinets. Fireplace in the family! Expand your entertaining space out to the vast patio overlooking amazing private back yard. The basement/garage has 1,500+ sq ft that can easily be converted into anything!

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: 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

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,808
Property Tax -$496
Property Insurance -$70
Property Management Fees -$225
CASH FLOW
-$99

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

$2,500

PROJECTED RENT

0.51%

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

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$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 55% 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

3.67

YEARS SAVED

$20,373

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $2,605

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,5003$2,5004$2,6955$2,950
$2,950
RENT COMPS ANALYSIS
  • 6111 Yellowood Road Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 1968
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.11
    •  
  • 3038 Markworth Road Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,226 Sqft ∙ Built 1971 4 beds 3 baths ∙ 2,226 Sqft ∙ Built 1971
    property image
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.01
    •  
  • 4101 Bramwyck Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,242 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,242 Sqft ∙ Built 1979
    property image
    LEASED 06/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.12
    •  
  • 3806 Bridgewood Lane Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,311 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,311 Sqft ∙ Built 1977
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.17
    •  
  • 3842 Rhodes Avenue Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,257 Sqft ∙ Built 1961 4 beds 3 baths ∙ 2,257 Sqft ∙ Built 1961
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.31
    •  
PROPERTY LISTING DETAILS
Magan Johnson
1.803.524.4518
Hl Real Estate Group, Llc
BESbswy