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

6339 Kelsey Drive Charlotte, NC 28215

3 Beds 2 Baths 1,876 sqft Built 1966

$250,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $133.26
  • 16 Days on Market
  • MLS # : 3695041
  • Updated Date : 01/15/2021 at 14:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,876 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty

Listing Agent's Description

This gem of a home is in the established tree-lined family neighborhood of Hampshire Hills. This home is a quick walk to Unity Park. Unity Park is over five acres of fun — a playground for the kids, two tennis courts and a softball field. This 3BR, 2BA home sits on almost 1/2 acre on a flat lot and has NO HOA fees! Original hardwood floors. Washer and dryer convey. New HVAC in 2016. SOLD AS-IS. Close to major highways, NODA, Plaza Midwood and UNCC.

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: Eastway

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $60k235k

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

Neighborhood: Eastway

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
Briarwood Academy Primary Regular 738 48 3
Martin Luther King Jr Middle School Middle Regular 1,102 57 2
Garinger High School High Regular 1,748 106 NA

Briarwood Academy

  • Education Level: Primary
  • # of students: 738
  • # of teachers: 48
3
GreatSchools Rating

Martin Luther King Jr Middle School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 57
2
GreatSchools Rating

Garinger High School

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

$225,000$275,000$250,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$868
Property Tax -$218
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$142

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.

$250,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.9%
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$900k

PROJECTED ANNUAL CASH FLOW

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

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$26,342

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,463

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2993$1,3504$1,4105$1,499
$1,499
RENT COMPS ANALYSIS
  • 6339 Kelsey Drive Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 1966
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.75
    •  
  • 6615 Farmway Place Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1970
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.73
    •  
  • 3410 Denson Place Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 1968
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.73
    •  
  • 9409 Newell Hickory Grove Road Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 2007
    property image
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.83
    •  
  • 3924 Dunwoody Drive Charlotte, NC 5
    • 4 beds 2 baths ∙ 1,806 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,806 Sqft ∙ Built 1970
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.83
    •  
PROPERTY LISTING DETAILS
Belinda Agosto
1.704.750.0075
Fathom Realty
BESbswy