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6326 Sardis Road Charlotte, NC 28270

4 Beds 3 Baths 2,557 sqft Built 1968

$459,900

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $179.86
  • 74 Days on Market
  • MLS # : 3668604
  • Updated Date : 12/09/2020 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,557 sqft
  • Baths : 3 full
Listing Agent

The Virtual Realty Group

Listing Agent's Description

Located in the very sought-after Landsdowne neighborhood. Beautiful renovation and updates to this must see 4 Bedroom 3 Full Bath home with over sized two car garage with room for workshop. Fabulous new open floor plan with glorious wood floors. Large Family & game room with fireplace. New Kitchen with New full stainless-steel appliance package including wine cooler and built in wine rack. Recessed lighting, 3 completely renovated full bathrooms with custom tile work, extra large walk-in master shower, new fixtures and all new lighting fixtures throughout. Just too many great features about this home to list, this is a must see!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lansdowne

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k456k

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

Neighborhood: Lansdowne

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8442192

* 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
Lansdowne Elementary School Primary Regular 643 41 5
Mcclintock Middle School Middle Regular 855 55 3
East Mecklenburg High School High Regular 1,840 111 6

Lansdowne Elementary School

  • Education Level: Primary
  • # of students: 643
  • # of teachers: 41
5
GreatSchools Rating

Mcclintock Middle School

  • Education Level: Middle
  • # of students: 855
  • # of teachers: 55
3
GreatSchools Rating

East Mecklenburg High School

  • Education Level: High
  • # of students: 1,840
  • # of teachers: 111
6
GreatSchools Rating
 

$413,910$505,890$459,900

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,697
Property Tax -$401
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
-$212

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.

$459,900

PROJECTED PRICE

$2,080

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,624

INVESTMENT

$127,624

Down Payment
$114,975
Rehab Estimate
$5,750
Closing Costs
$6,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $114,975
Loan Amount $344,925
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$16,167

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,193

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,849
1$1,8492$2,0003$2,0004$2,0805$2,795
$2,795
RENT COMPS ANALYSIS
  • 6326 Sardis Road Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,557 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,557 Sqft ∙ Built 1968
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.81
    •  
  • 5301 Providence Road Charlotte, NC 1
    • 4 beds 2 baths ∙ 2,245 Sqft ∙ Built 1968 4 beds 2 baths ∙ 2,245 Sqft ∙ Built 1968
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,849
    • $0.82
    •  
  • 6319 Prett Court Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,503 Sqft ∙ Built 1966 4 beds 3 baths ∙ 2,503 Sqft ∙ Built 1966
    property image
    LEASED 07/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
  • 1123 Lynnbrook Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,606 Sqft ∙ Built 1960 4 beds 3 baths ∙ 2,606 Sqft ∙ Built 1960
    property image
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.77
    •  
  • 6636 Ciscayne Place Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 1979
    property image
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.02
    •  
PROPERTY LISTING DETAILS
Carolina Sorensen
1.704.728.3611
The Virtual Realty Group
BESbswy