Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6126 Sid Crane Drive Charlotte, NC 28216

3 Beds 2 Baths 1,400 sqft Built 2005

$215,200

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $153.71
  • 4 Days on Market
  • MLS # : 3694521
  • Updated Date : 01/08/2021 at 07:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,400 sqft
  • Baths : 2 full
Listing Agent

Elite Team Realty

Listing Agent's Description

Walnut Creek Home!!! 1.5 story home. 3 bed 2 full bath. Loft above 2 car garage. Home is currently tenant occupied. Home is being sold "AS IS". Seller is not looking to make any repairs. More pics to be added when able. Home will be measured within 2 weeks. Pic of front of home is an older pic.

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: Oakdale North

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $97k235k

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

Neighborhood: Oakdale North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350140014501500Rent in $7901518

* 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
Oakdale Elementary School Primary Regular 646 38 2
Ranson Middle School Middle Regular 1,138 57 3
West Charlotte High School High Regular 1,777 109 3

Oakdale Elementary School

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 38
2
GreatSchools Rating

Ranson Middle School

  • Education Level: Middle
  • # of students: 1,138
  • # of teachers: 57
3
GreatSchools Rating

West Charlotte High School

  • Education Level: High
  • # of students: 1,777
  • # of teachers: 109
3
GreatSchools Rating
 

$193,680$236,720$215,200

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$747
Property Tax -$188
Property Insurance -$54
HOA -$17
Property Management Fees -$119
CASH FLOW
$136

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$215,200

PROJECTED PRICE

$1,260

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 9.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,778

INVESTMENT

$62,778

Down Payment
$53,800
Rehab Estimate
$5,750
Closing Costs
$3,228

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,800
Loan Amount $161,400
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$23,092

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,274

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,249
1$1,2492$1,2603$1,2994$1,3505$1,450
$1,450
RENT COMPS ANALYSIS
  • 6126 Sid Crane Drive Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.90
    •  
  • 2045 Sunset Village Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 1,568 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,568 Sqft ∙ Built 2001
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $0.80
    •  
  • 2700 Stowmarket Place Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1989
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.89
    •  
  • 2907 Pirates Place Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,451 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,451 Sqft ∙ Built 2004
    property image
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.93
    •  
  • 5701 Southminster Lane Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1989
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
PROPERTY LISTING DETAILS
Brian Augustine
1.704.521.2735
Elite Team Realty
BESbswy