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6212 Hailstone Road Charlotte, NC 28215

4 Beds 3 Baths 2,151 sqft Built 2020

$307,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $143.14
  • 3 Days on Market
  • MLS # : 3680210
  • Updated Date : 11/06/2020 at 13:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,151 sqft
  • Baths : 2 full , 1 half
Listing Agent

Meritage Homes Of The Carolina

Listing Agent's Description

Brand NEW energy-efficient home ready November 2020! Prepare dinner at the kitchen island overlooking the family room. Upstairs, the private owner’s suite offers a large walk-in closet. Wheat Oak flooring, Linen cabinets with White Shore granite countertops, Sand Swept carpet in our Essential package. Located in East Charlotte with convenient access to I-485, downtown Mint Hill as well as a variety of shopping, dining and entertainment areas. Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.

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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: Bradfield Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230kPrice in $113k235k

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

Neighborhood: Bradfield Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8421518

* 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
J.h. Gunn Elementary School Primary Regular 695 42 2
Albemarle Road Middle School Middle Regular 1,198 64 2
Rocky River High School High Regular 1,710 90 3

J.h. Gunn Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 42
2
GreatSchools Rating

Albemarle Road Middle School

  • Education Level: Middle
  • # of students: 1,198
  • # of teachers: 64
2
GreatSchools Rating

Rocky River High School

  • Education Level: High
  • # of students: 1,710
  • # of teachers: 90
3
GreatSchools Rating
 

$277,110$338,690$307,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,136
Property Tax -$288
Property Insurance -$68
HOA -$33
Property Management Fees -$155
CASH FLOW
$40

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$307,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 3.00%
Vacancy 6.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,594

INVESTMENT

$83,594

Down Payment
$76,975
Rehab Estimate
$2,000
Closing Costs
$4,619

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,136

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,975
Loan Amount $230,925
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$17,664

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,715

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,645
1$1,6452$1,6453$1,7204$1,7655$1,795
$1,795
RENT COMPS ANALYSIS
  • 6212 Hailstone Road Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,151 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,151 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.80
    •  
  • 9113 Marion Oaks Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 2019
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.75
    •  
  • 9324 Sloan Forest Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 2019
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.78
    •  
  • 9556 Blue Knoll Court Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 2020
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,765
    • $0.81
    •  
  • 9131 Marion Oaks Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 2019
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.85
    •  
PROPERTY LISTING DETAILS
Jimmy Mcclurg
1.704.969.0153
Meritage Homes Of The Carolina
BESbswy