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6408 Lanzerac Manor Drive Charlotte, NC 28269

5 Beds 3 Baths 2,312 sqft Built 2007

$289,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $125.00
  • 4 Days on Market
  • MLS # : 3700948
  • Updated Date : 01/23/2021 at 17:28
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,312 sqft
  • Baths : 2 full , 1 half
Listing Agent

Perfect House Realty Llc

Listing Agent's Description

Welcome home to this beautiful well maintained one-owner home. Natural wood floors greets you throughout the main living area. The spacious family room has custom archways open to the formal dining room and large eat-in kitchen. The kitchen features 42" cabinets, granite countertops and a built in recipe desk. Upstairs you'll find a master suite fit for royalty. Vaulted ceilings, custom molding, large walk-in closet and a ensuite bathroom that was recently updated 2 years ago. The en suite has separate shower, garden tub, and double vanity. Another full bath and four more bedrooms are upstairs. This courtyard lot offers just enough space for private entertainment, and low maintenance upkeep. Conveniently located to Huntersville, Concord, and the Northlake Mall area all within 15 min drive or less. Major highways I77, I85 and I485 are all a short drive away as well. Perfect home, perfect location, schedule a showing and make it yours. Offers will be reviewed at 5pm Jan 24th

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: West Sugar Creek

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $106k235k

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

Neighborhood: West Sugar Creek

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
David Cox Road Elementary School Primary Regular 784 46 4
Ridge Road Middle School Middle Regular 1,285 65 6
Mallard Creek High School High Regular 2,472 123 6

David Cox Road Elementary School

  • Education Level: Primary
  • # of students: 784
  • # of teachers: 46
4
GreatSchools Rating

Ridge Road Middle School

  • Education Level: Middle
  • # of students: 1,285
  • # of teachers: 65
6
GreatSchools Rating

Mallard Creek High School

  • Education Level: High
  • # of students: 2,472
  • # of teachers: 123
6
GreatSchools Rating
 

$260,100$317,900$289,000

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 -$1,004
Property Tax -$252
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
$255

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.

$289,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.59%

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$1.2M

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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,004

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$39,398

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
  • $0.74

    LIST RENT PER SQFT
  • $1,694

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,5953$1,6354$1,7005$1,799
$1,799
RENT COMPS ANALYSIS
  • 6408 Lanzerac Manor Drive Charlotte, NC 4
    • 5 beds 3 baths ∙ 2,312 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,312 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.74
    •  
  • 6720 Neuhoff Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,273 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,273 Sqft ∙ Built 1996
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.70
    •  
  • 7401 Kinsmore Lane Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,162 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,162 Sqft ∙ Built 1989
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.74
    •  
  • 4801 Canipe Drive Charlotte, NC 3
    • 5 beds 3 baths ∙ 2,258 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,258 Sqft ∙ Built 2006
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,635
    • $0.72
    •  
  • 4537 Canipe Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 2004
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.77
    •  
PROPERTY LISTING DETAILS
Qulia Bryant
1.704.904.2178
Perfect House Realty Llc
BESbswy