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6215 Quiet Water Place Charlotte, NC 28214

3 Beds 2 Baths 1,415 sqft Built 1979

$210,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $148.41
  • 7 Days on Market
  • MLS # : 3692903
  • Updated Date : 12/21/2020 at 13:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,415 sqft
  • Baths : 2 full
Listing Agent

Allen Tate Gastonia

Listing Agent's Description

Welcome to this one level home in Forest Pawtuckett, a desirable established neighborhood off of Moores Chapel Rd. This is a 3 BR 2 BA home with a two car detached garage and nice deep lot. The home sits in a cul-de-sac area with access to I 485. A little TLC will make it your own. Seller started to rebuild back deck but was unable to finish it.

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: Wildwood

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Wildwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6661518

* 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
Whitewater Academy Primary Unknown 756 45 NA
Whitewater Middle School Middle Regular 924 53 5
West Mecklenburg High School High Regular 2,040 108 1

Whitewater Academy

  • Education Level: Primary
  • # of students: 756
  • # of teachers: 45
NA
GreatSchools Rating

Whitewater Middle School

  • Education Level: Middle
  • # of students: 924
  • # of teachers: 53
5
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$775
Property Tax -$183
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$159

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.

$210,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
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$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$30,799

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,298

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2903$1,2994$1,3365$1,400
$1,400
RENT COMPS ANALYSIS
  • 6215 Quiet Water Place Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.91
    •  
  • 7125 Pawtuckett Road Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1995
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.93
    •  
  • 6420 Pennacook Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,432 Sqft ∙ Built 3 beds 3 baths ∙ 1,432 Sqft ∙ Built
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.91
    •  
  • 5819 Natick Drive Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 2017
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,336
    • $0.86
    •  
  • 4725 Opus Lane Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,450 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,450 Sqft ∙ Built 2016
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.97
    •  
PROPERTY LISTING DETAILS
Yvonne Burton
1.980.329.0571
Allen Tate Gastonia
BESbswy