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6214 Tauten Court Charlotte, NC 28269

5 Beds 4 Baths 2,847 sqft Built 1999

$350,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $122.94
  • 93 Days on Market
  • MLS # : 3667274
  • Updated Date : 01/02/2021 at 10:11
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,847 sqft
  • Baths : 3 full , 1 half
Listing Agent

Mission Realty

Listing Agent's Description

Don’t miss this beautiful home that sits at the end of a cul-de-sac overlooking the 15th tee of the Highland Creek golf course! Owners suite on the main level with a second owners suite upstairs; handicap ramp from garage entrance and to access rear patio; chair lift on stairs; new roof in 2016; new water heater in 2020; new heat and A/C in 2015; generator for main level installed in 2018; sunroom is heated and cooled with wall unit and can be used year round; paver patio; partially fenced yard; architectural features including trey ceilings, vaulted ceilings, arches, bay window; ceiling fans; wood floors on entire main level; new vapor barrier in crawl space. Neighborhood has water park, golf course, pool, playground, tennis courts, walking trails, elementary school, etc. Convenient to shopping, medical care, and I-485.

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: Cambellton

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Cambellton

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8441922

* 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
Highland Creek Elementary School Primary Regular 1,105 57 7
Ridge Road Middle School Middle Regular 1,285 65 6
Mallard Creek High School High Regular 2,472 123 6

Highland Creek Elementary School

  • Education Level: Primary
  • # of students: 1,105
  • # of teachers: 57
7
GreatSchools Rating

Ridge Road Middle School

  • Education Level: Middle
  • # of students: 1,285
  • # of teachers: 65
6
GreatSchools Rating

Mallard Creek High School

  • Education Level: High
  • # of students: 2,472
  • # of teachers: 123
6
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,291
Property Tax -$356
Property Insurance -$81
HOA -$54
Property Management Fees -$119
CASH FLOW
$9

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.

$350,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.4%
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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$25,517

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,858

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8953$1,9104$1,9155$1,995
$1,995
RENT COMPS ANALYSIS
  • 6214 Tauten Court Charlotte, NC 3
    • 5 beds 4 baths ∙ 2,847 Sqft ∙ Built 1999 5 beds 4 baths ∙ 2,847 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.67
    •  
  • 1424 Bedlington Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,722 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,722 Sqft ∙ Built 2003
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.62
    •  
  • 8028 Pelorus Lane Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 1998
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.69
    •  
  • 9129 Viscount Lane Charlotte, NC 4
    • 5 beds 4 baths ∙ 2,992 Sqft ∙ Built 2001 5 beds 4 baths ∙ 2,992 Sqft ∙ Built 2001
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,915
    • $0.64
    •  
  • 1910 Solway Lane Charlotte, NC 5
    • 5 beds 3 baths ∙ 3,001 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,001 Sqft ∙ Built 2003
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.66
    •  
PROPERTY LISTING DETAILS
Denise Pagano
1.704.562.9810
Mission Realty
BESbswy