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6251 Deliah Lane Charlotte, NC 28215

3 Beds 2 Baths 1,746 sqft Built 1962

$269,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $154.07
  • 3 Days on Market
  • MLS # : 3720168
  • Updated Date : 03/19/2021 at 19:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,746 sqft
  • Baths : 2 full
Listing Agent

Lionheart Real Estate Llc

Listing Agent's Description

City living with a country feel! Very well maintained brick ranch on a quiet street with lots of privacy! So close to Noda and Plaza Midwood and all the restaurants, shops and public parks the city has planned along that corridor. This meticulously taken care of home has a great floor plan with flexible living space options. Beautiful hardwoods, new carpet and fresh paint. One story shed also has plenty of extra storage space. Enjoy relaxing or entertaining on the lovely patio overlooking your fully fenced back yard. Come check it out to see all this home offers- won't last long!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Hickory Grove

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $96k235k

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

Neighborhood: Hickory Grove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8421518

* 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
Joseph W. Grier Academy Primary Regular 789 50 3
Northridge Middle School Middle Regular 779 43 3
Rocky River High School High Regular 1,710 90 3

Joseph W. Grier Academy

  • Education Level: Primary
  • # of students: 789
  • # of teachers: 50
3
GreatSchools Rating

Northridge Middle School

  • Education Level: Middle
  • # of students: 779
  • # of teachers: 43
3
GreatSchools Rating

Rocky River High School

  • Education Level: High
  • # of students: 1,710
  • # of teachers: 90
3
GreatSchools Rating
 

$242,100$295,900$269,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$934
Property Tax -$235
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$42

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$269,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
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-$2.0k$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$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,035

INVESTMENT

$77,035

Down Payment
$67,250
Rehab Estimate
$5,750
Closing Costs
$4,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$934

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,250
Loan Amount $201,750
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$17,587

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,410

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3903$1,3954$1,4005$1,475
$1,475
RENT COMPS ANALYSIS
  • 6251 Deliah Lane Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.80
    •  
  • 6454 Matlea Court Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 2006
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.85
    •  
  • 8121 Nikki Cole Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 1,704 Sqft ∙ Built 2015 4 beds 3 baths ∙ 1,704 Sqft ∙ Built 2015
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.82
    •  
  • 6911 Lakeside Drive Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 1956
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.73
    •  
  • 7420 Frances Irene Drive Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,844 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,844 Sqft ∙ Built 2000
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.80
    •  
PROPERTY LISTING DETAILS
Richard Haake
1.704.577.0005
Lionheart Real Estate Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3720168
Last Updated: 03/19/2021
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