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

6331 Nature Walk Drive Charlotte, NC 28212

3 Beds 2 Baths 1,353 sqft Built 1998

$199,000

List Price

$1,395

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $147.08
  • 3 Days on Market
  • MLS # : No MLS Number
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,353 sqft
  • Baths : 2 full
Listing Agent

Tobin

Listing Agent's Description

Charming updated ranch on large cul-de-sac lot and backs to treed nature preserve. Updated kitchen w/ SS appliances, designer tile backsplash, unique lighting fixtures, updated master bath, large walk-in closet w/ closet system. The outdoor space will wow you - large patio connects to covered entertainment area to grill, with TV and enjoy the outdoors. Four parking spots on extended driveway. Multiple offers received on this home. The seller will accept offers until 6 pm on Sunday Feb.28th. Please submit best offer by that time. The seller will review all offers Sunday night or Monday AM.

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: North Sharon Amity

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $72k235k

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

Neighborhood: North Sharon Amity

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
Winterfield Elementary School Primary Regular 712 44 3
Eastway Middle School Middle Regular 932 55 2
Garinger High School High Regular 1,748 106 NA

Winterfield Elementary School

  • Education Level: Primary
  • # of students: 712
  • # of teachers: 44
3
GreatSchools Rating

Eastway Middle School

  • Education Level: Middle
  • # of students: 932
  • # of teachers: 55
2
GreatSchools Rating

Garinger High School

  • Education Level: High
  • # of students: 1,748
  • # of teachers: 106
NA
GreatSchools Rating
 

$179,100$218,900$199,000

PURCHASE PRICE

$1,256$1,535$1,395

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,395
EXPENSES Loan Payment -$691
Property Tax -$174
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$359

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.

$199,000

PROJECTED PRICE

$1,395

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 11.2%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$58,485

INVESTMENT

$58,485

Down Payment
$49,750
Rehab Estimate
$5,750
Closing Costs
$2,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$691

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,750
Loan Amount $149,250
See What Happens When You Reinvest Cash Flow

13.58

YEARS SAVED

$43,953

INTEREST SAVED

CASH FLOW REINVESTMENT

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

Solutions Manager

YOUR SOLUTIONS MANAGER

Please Contact Your Solutions Manager

To review the detailed price and rent comps for this property and answer any questions you may have.

PROPERTY LISTING DETAILS
Mynd
Tobin
BESbswy