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6409 Ellimar Field Lane #60 Charlotte, NC 28215

4 Beds 3 Baths 2,644 sqft Built 2021

$334,040

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $126.34
  • 3 Days on Market
  • MLS # : 3694904
  • Updated Date : 01/01/2021 at 15:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,644 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dr Horton Inc

Listing Agent's Description

LOTS OF HOME for the money! New construction with 4 beds/2.5 baths with Loft. Also boasting Formal Dining next to Enclosed Office. Kitchen has Granite countertops w/subway tile backsplash, 36" shaker kitchen cabinets w/molding, 9ft. ceilings on the main floor, Rev-wood laminate flooring throughout the main floor, double sinks in guest bath, LED Lighting throughout the home, and Deluxe Master Bath with Garden Tub and separate shower. Concord Mills Mall, Restaurants, and Shopping only minutes away! Pictures, photographs, colors, features, and sizes are for ILLUSTRATION PURPOSES ONLY and will vary from homes as built.

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: Silverwood

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230kPrice in $113k235k

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

Neighborhood: Silverwood

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
Reedy Creek Elementary School Primary Regular 730 44 6
Northridge Middle School Middle Regular 779 43 3
Rocky River High School High Regular 1,710 90 3

Reedy Creek Elementary School

  • Education Level: Primary
  • # of students: 730
  • # of teachers: 44
6
GreatSchools Rating

Northridge Middle School

  • Education Level: Middle
  • # of students: 779
  • # of teachers: 43
3
GreatSchools Rating

Rocky River High School

  • Education Level: High
  • # of students: 1,710
  • # of teachers: 90
3
GreatSchools Rating
 

$300,636$367,444$334,040

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,232
Property Tax -$313
Property Insurance -$77
HOA -$63
Property Management Fees -$119
CASH FLOW
-$143

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$334,040

PROJECTED PRICE

$1,660

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 3.00%
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$90,521

INVESTMENT

$90,521

Down Payment
$83,510
Rehab Estimate
$2,000
Closing Costs
$5,011

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,232

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,510
Loan Amount $250,530
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$9,424

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $1,626

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,6504$1,6505$1,660
$1,660
RENT COMPS ANALYSIS
  • 6409 Ellimar Field Lane Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,644 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,644 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.63
    •  
  • 9134 Atlas Cedar Drive Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,720 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,720 Sqft ∙ Built 2002
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.59
    •  
  • 11121 Nolet Court Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2002
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.58
    •  
  • 11008 Padderborn Court Charlotte, NC 3
    • 3 beds 2 baths ∙ 2,780 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,780 Sqft ∙ Built 2002
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.59
    •  
  • 6011 Timbertop Lane Charlotte, NC 4
    • 3 beds 4 baths ∙ 2,366 Sqft ∙ Built 2004 3 beds 4 baths ∙ 2,366 Sqft ∙ Built 2004
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.70
    •  
PROPERTY LISTING DETAILS
Chuck Hammer
1.704.576.9208
Dr Horton Inc
BESbswy