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

6413 Bridgeport Drive Charlotte, NC 28215

3 Beds 2 Baths 1,766 sqft Built 1967

$225,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $127.41
  • 3 Days on Market
  • MLS # : 3700277
  • Updated Date : 01/23/2021 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,766 sqft
  • Baths : 2 full
Listing Agent

Real Broker Llc

Listing Agent's Description

Large and charming single level home conveniently located near an abundance of restaurants and shopping. Spacious deck and fenced in backyard offer the opportunity for customization to your liking. Great for entertaining family and friends. Large owner's suite boats a separate soaking tub and tile-surround shower. Minimal exterior maintenance and a separate laundry room are just a few of the fantastic features this home has to offer! Less than 20 minutes to Uptown and Concord Mills with easy access to 485 and 85. Don’t miss this opportunity to own, it won’t last long!

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: 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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$782
Property Tax -$196
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$323

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.

$225,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.66%

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$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

12.33

YEARS SAVED

$43,479

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,475

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,095
1$1,0952$1,1503$1,2504$1,4805$1,800
$1,800
RENT COMPS ANALYSIS
  • 6413 Bridgeport Drive Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,766 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,766 Sqft ∙ Built 1967
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.84
    •  
  • 5901 Mcbride Street Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1967
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.77
    •  
  • 1115 Farrior Drive Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,426 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,426 Sqft ∙ Built 1960
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.81
    •  
  • 5819 Ruth Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1965 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1965
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.83
    •  
  • 5157 Grafton Drive Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,941 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,941 Sqft ∙ Built 1964
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
PROPERTY LISTING DETAILS
Zanthia Hastings
1.704.737.6976
Real Broker Llc
BESbswy