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6413 Ellimar Field Lane #61 Charlotte, NC 28215

3 Beds 3 Baths 2,207 sqft Built 2021

$318,890

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $144.49
  • 4 Days on Market
  • MLS # : 3696374
  • Updated Date : 01/09/2021 at 22:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,207 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dr Horton Inc

Listing Agent's Description

Lot 61, Phase 3. New construction home with an open layout downstairs, and upstairs 3 bedrooms plus an open loft. Kitchen includes 36" cabinets and granite countertops. Home features 9ft. ceilings and 'Revwood' laminate flooring throughout the main floor. Master suite has a vaulted ceiling and includes a 'Deluxe Master Bath' upgrade 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

  • 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: 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
 

$287,001$350,779$318,890

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,108
Property Tax -$296
Property Insurance -$69
HOA -$63
Property Management Fees -$119
CASH FLOW
$226

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.

$318,890

PROJECTED PRICE

$1,880

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.1%
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$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,506

INVESTMENT

$86,506

Down Payment
$79,723
Rehab Estimate
$2,000
Closing Costs
$4,783

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,108

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,723
Loan Amount $239,168
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$41,030

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,931

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,8503$1,8804$1,9255$1,925
$1,925
RENT COMPS ANALYSIS
  • 6413 Ellimar Field Lane Charlotte, NC 3
    • 3 beds 3 baths ∙ 2,207 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,207 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.85
    •  
  • 9423 Bradstreet Commons Way Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,007 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,007 Sqft ∙ Built 2016
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.80
    •  
  • 8117 Williams Farm Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 2020
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.88
    •  
  • 8130 Williams Farm Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 2020
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.91
    •  
  • 8204 Williams Farm Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 2020
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.91
    •  
PROPERTY LISTING DETAILS
Angela Wetherall
1.704.756.2877
Dr Horton Inc
BESbswy