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

6218 Long Pine Drive Charlotte, NC 28227

3 Beds 2 Baths 1,573 sqft Built 1983

$234,900

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $149.33
  • 4 Days on Market
  • MLS # : 3698639
  • Updated Date : 01/15/2021 at 18:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,573 sqft
  • Baths : 2 full
Listing Agent

Keller Williams South Park

Listing Agent's Description

Beautifully updated country styled home that is full of charm. Walk into the main living space which features vaulted ceilings and a fireplace. Renovations throughout home includes a new roof, gutters, new garage door, updated kitchen, master bedroom, bathrooms, flooring, and new stainless steel appliances. Enjoy an oversized flat back yard with swing set and 2 storage sheds. Open House (Comply with CDC COVID-19 guideline) Dates/Times: Friday Jan. 15 (4pm - 7pm) Saturday Jan. 16 (12pm - 4pm) Sunday Jan. 17 (12pm - 4pm)

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: Hickory Ridge

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Hickory Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771518

* 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
Hickory Grove Elementary School Primary Regular 1,010 61 6
Cochrane Collegiate Academy Middle Regular 702 48 2
Cochrane Collegiate Academy High Regular 702 48 2

Hickory Grove Elementary School

  • Education Level: Primary
  • # of students: 1,010
  • # of teachers: 61
6
GreatSchools Rating

Cochrane Collegiate Academy

  • Education Level: Middle
  • # of students: 702
  • # of teachers: 48
2
GreatSchools Rating

Cochrane Collegiate Academy

  • Education Level: High
  • # of students: 702
  • # of teachers: 48
2
GreatSchools Rating
 

$211,410$258,390$234,900

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$816
Property Tax -$205
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$204

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.

$234,900

PROJECTED PRICE

$1,400

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.8%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$67,999

INVESTMENT

$67,999

Down Payment
$58,725
Rehab Estimate
$5,750
Closing Costs
$3,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,725
Loan Amount $176,175
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$32,176

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,443

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3753$1,3954$1,4005$1,495
$1,495
RENT COMPS ANALYSIS
  • 6218 Long Pine Drive Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,573 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,573 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.89
    •  
  • 7916 Glencannon Drive Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1993
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.93
    •  
  • 6728 Raeburn Lane Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1986
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.90
    •  
  • 5813 Martin Lake Road Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 1963
    property image
    LEASED 11/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.92
    •  
  • 8019 Glencannon Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 1,608 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,608 Sqft ∙ Built 1989
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.93
    •  
PROPERTY LISTING DETAILS
Christina Rainford
1.704.606.0436
Keller Williams South Park
BESbswy