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6240 Bonnybrook Lane Charlotte, NC 28212

3 Beds 2 Baths 1,232 sqft Built 1972

$230,000

List Price

$1,170

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $186.69
  • 24 Days on Market
  • MLS # : 3690996
  • Updated Date : 01/09/2021 at 11:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,232 sqft
  • Baths : 1 full , 1 half
Listing Agent

Nestlewood Realty, Llc

Listing Agent's Description

Brick Ranch, ready to move in, flat lot in QUICKLY growing Fours Seasons neighborhood! This 3 bed 2 bath features Stainless Steel Appliances, updated bathrooms, large outdoor storage shed and new 30 year architectural roof. This east Charlotte Location is primed for all new growth with the recent approval for the MLS and Retail construction to begin soon at the old Four Seasons Mall location. Walk to shopping, dining and so much more. Community Includes Tennis Courts, Pool and more!

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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$799
Property Tax -$201
Property Insurance -$50
HOA -$35
Property Management Fees -$119
CASH FLOW
-$34

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.

$230,000

PROJECTED PRICE

$1,170

PROJECTED RENT

0.51%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% 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 $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$9,770

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,170

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,177

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,095
1$1,0952$1,1703$1,3254$1,3755$1,376
$1,376
RENT COMPS ANALYSIS
  • 6240 Bonnybrook Lane Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $0.95
    •  
  • 7207 Barcliff Drive Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,170 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,170 Sqft ∙ Built 1977
    LEASED 09/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.94
    •  
  • 6021 Powder Horn Road Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1972
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.94
    •  
  • 6324 Fresh Wind Avenue Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1998
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.97
    •  
  • 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
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,376
    • $0.97
    •  
PROPERTY LISTING DETAILS
Douglas Christen
1.704.516.2220
Nestlewood Realty, Llc
BESbswy