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6213 Ellimar Field Lane #54 Charlotte, NC 28215

3 Beds 3 Baths 2,207 sqft Built 2021

$327,390

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $148.34
  • 3 Days on Market
  • MLS # : 3701198
  • Updated Date : 01/22/2021 at 15:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,207 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dr Horton Inc

Listing Agent's Description

Spacious home with 3 bedrooms and a loft with a closet. Kitchen includes Granite kitchen countertops w/tile backsplash. 9ft. ceilings and Rev-wood laminate flooring throughout the main floor. Fireplace in the family room. Home is Connected (smart home) package includes programmable thermostat, Z-wave door lock and wireless switch, touchscreen control device, automation platform, video doorbell and Amazon Echo Dot and Show 5. LED Lighting throughout the home. Deluxe Master Bath with Garden Tub and separate shower in the Owner's suite. Concord Mills Mall, Restaurants, and Shopping only minutes away! Pictures, photographs, colors, features, and sizes are for ILLUSTRATION PURPOSES ONLY and will vary from homes as built.

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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: Silverwood

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230kPrice in $113k235k

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

Neighborhood: Silverwood

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
Reedy Creek Elementary School Primary Regular 730 44 6
Northridge Middle School Middle Regular 779 43 3
Rocky River High School High Regular 1,710 90 3

Reedy Creek Elementary School

  • Education Level: Primary
  • # of students: 730
  • # of teachers: 44
6
GreatSchools Rating

Northridge Middle School

  • Education Level: Middle
  • # of students: 779
  • # of teachers: 43
3
GreatSchools Rating

Rocky River High School

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

$294,651$360,129$327,390

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,137
Property Tax -$306
Property Insurance -$69
HOA -$63
Property Management Fees -$119
CASH FLOW
-$124

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.

$327,390

PROJECTED PRICE

$1,570

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.1%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$88,758

INVESTMENT

$88,758

Down Payment
$81,848
Rehab Estimate
$2,000
Closing Costs
$4,911

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,137

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,848
Loan Amount $245,543
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$7,985

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,617

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,570
1$1,5702$1,5853$1,6004$1,6505$1,750
$1,750
RENT COMPS ANALYSIS
  • 6213 Ellimar Field Lane Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,207 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,207 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.71
    •  
  • 7526 Salinger Way Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,216 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,216 Sqft ∙ Built 2003
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $0.72
    •  
  • 9423 Bradstreet Commons Way Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,007 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,007 Sqft ∙ Built 2016
    property image
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.80
    •  
  • 6011 Timbertop Lane Charlotte, NC 4
    • 3 beds 4 baths ∙ 2,366 Sqft ∙ Built 2004 3 beds 4 baths ∙ 2,366 Sqft ∙ Built 2004
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.70
    •  
  • 4225 Stockbrook Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2020
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.73
    •  
PROPERTY LISTING DETAILS
Angela Wetherall
1.704.756.2877
Dr Horton Inc
BESbswy