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

6327 Rosecrest Drive #9 Charlotte, NC 28210

3 Beds 2 Baths 1,274 sqft Built 1960

$335,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $262.95
  • 7 Days on Market
  • MLS # : 3682429
  • Updated Date : 11/20/2020 at 10:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,274 sqft
  • Baths : 1 full , 1 half
Listing Agent

Costello Real Estate And Investments

Listing Agent's Description

Charming 3 bedroom brick ranch located in sought after Starmount neighborhood! Conveniently located, you can hop on the Blue Line and ride uptown, take a quick drive over to Park Road and SouthPark! Complete with recent updates that include refinished ceilings, crown molding, new paint through out, new lighting fixtures, remodeled kitchen with refinished cabinets, LVP kitchen floors, fully updated bathrooms. Enjoy coffee on your back deck over looking the large private fenced in backyard. Again LOCATION, LOCATION, easy access out of the neighborhood, just a hop skip and a jump to I-77, breweries, restaurants, and Quail Corners! This home is the total package, with great natural light, open floor plan, and perfect location!

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: Starmount

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $101k311k

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

Neighborhood: Starmount

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8421520

* 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
Montclaire Elementary School Primary Regular 640 45 5
Sedgefield Middle School Middle Regular 745 45 1
Myers Park High School High Regular 2,762 145 8

Montclaire Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 45
5
GreatSchools Rating

Sedgefield Middle School

  • Education Level: Middle
  • # of students: 745
  • # of teachers: 45
1
GreatSchools Rating

Myers Park High School

  • Education Level: High
  • # of students: 2,762
  • # of teachers: 145
8
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,236
Property Tax -$292
Property Insurance -$51
Property Management Fees -$153
CASH FLOW
-$32

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.

$335,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 7.8%
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-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$14,297

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $1,704

    COMP ESTIMATED VALUE
  • $1.34

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,4953$1,5954$1,7005$1,850
$1,850
RENT COMPS ANALYSIS
  • 6327 Rosecrest Drive Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.33
    •  
  • 7109 Rockcliff Court Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,170 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,170 Sqft ∙ Built 1961
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.26
    •  
  • 1332 Edgewater Drive Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,170 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,170 Sqft ∙ Built 1961
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.28
    •  
  • 7008 Woodstream Drive Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,175 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,175 Sqft ∙ Built 1961
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.36
    •  
  • 1420 Springwood Lane Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 1960
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.45
    •  
PROPERTY LISTING DETAILS
Christopher Allen
1.704.657.1681
Costello Real Estate And Investments
BESbswy