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6234 Green Vista Court Charlotte, NC 28212

3 Beds 2 Baths 1,151 sqft Built 2005

$229,900

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $199.74
  • 6 Days on Market
  • MLS # : 3709247
  • Updated Date : 02/17/2021 at 12:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,151 sqft
  • Baths : 2 full
Listing Agent

Nueman Real Estate Inc

Listing Agent's Description

This is a 3 bedroom/ 2 bathroom ranch-style home with vaulted ceilings. This home has all new interior paint, new carpet, wood laminate flooring, and lots of natural light. The living room has a gas-log fireplace. The Kitchen has granite countertops, stainless steel appliances including a built-in microwave and all-white cabinets. A lovely master bedroom with a walk-in closet. Enjoy the private wooded backyard. Great location with easy access to Uptown. So hurry!

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: Farm Pond

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Farm Pond

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
Lawrence Orr Elementary School Primary Regular NA
Albemarle Road Middle School Middle Regular 1,198 64 2
Independence High School High Regular 2,349 128 6

Lawrence Orr Elementary School

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

Albemarle Road Middle School

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

Independence High School

  • Education Level: High
  • # of students: 2,349
  • # of teachers: 128
6
GreatSchools Rating
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$799
Property Tax -$200
Property Insurance -$49
HOA -$42
Property Management Fees -$119
CASH FLOW
$61

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.

$229,900

PROJECTED PRICE

$1,270

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.7%
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

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$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$17,203

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,085

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,095
1$1,0952$1,2703$1,2954$1,3255$1,376
$1,376
RENT COMPS ANALYSIS
  • 6234 Green Vista Court Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,151 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,151 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $1.10
    •  
  • 7207 Barcliff Drive Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,170 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,170 Sqft ∙ Built 1977
    property image
    LEASED 09/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.94
    •  
  • 7916 Glencannon Drive Charlotte, NC 3
    • 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
    •  
  • 6021 Powder Horn Road Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1972
    property image
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.94
    •  
  • 6022 Country Walk Drive Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 1998
    property image
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,376
    • $0.97
    •  
PROPERTY LISTING DETAILS
Samuel Nueman
1.704.747.2289
Nueman Real Estate Inc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3709247
Last Updated: 02/17/2021
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