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6416 Brumit Lane Charlotte, NC 28269

4 Beds 3 Baths 2,138 sqft Built 2014

$250,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $116.93
  • 6 Days on Market
  • MLS # : 3694271
  • Updated Date : 01/09/2021 at 11:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,138 sqft
  • Baths : 2 full , 1 half
Listing Agent

Real Broker Llc

Listing Agent's Description

Great opportunity near Northlake Mall, 77 and 85. The convenience of stores and uptown is very desirable! This home covers your desires, transferable builder warranty, 9 ft ceilings, 4 bedrooms, office, owner's suite with an upgraded bathroom. Neutral decor presents a clean turn key palette. The kitchen offers a generous amount of counter top & cabinet space... use island for extra meal prep. Tidying up is a breeze with the low maintenance flooring. Laundry room is located upstairs. Privacy fence surrounds a level backyard and deck ready for your relaxation & entertainment.

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: 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
Winding Springs Elementary School Primary Regular 859 60 3
J.m. Alexander Middle School Middle Regular 865 40 4
North Mecklenburg High School High Regular 1,881 101 3

Winding Springs Elementary School

  • Education Level: Primary
  • # of students: 859
  • # of teachers: 60
3
GreatSchools Rating

J.m. Alexander Middle School

  • Education Level: Middle
  • # of students: 865
  • # of teachers: 40
4
GreatSchools Rating

North Mecklenburg High School

  • Education Level: High
  • # of students: 1,881
  • # of teachers: 101
3
GreatSchools Rating
 

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

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$868
Property Tax -$218
Property Insurance -$67
HOA -$17
Property Management Fees -$119
CASH FLOW
$211

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.

$250,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.60%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

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 35% 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

9.33

YEARS SAVED

$32,468

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,491

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,349
1$1,3492$1,5003$1,5004$1,6455$1,675
$1,675
RENT COMPS ANALYSIS
  • 6416 Brumit Lane Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,138 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,138 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.70
    •  
  • 7022 Fox Point Drive Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,086 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,086 Sqft ∙ Built 2004
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.65
    •  
  • 8432 Panglemont Drive Charlotte, NC 2
    • 4 beds 2 baths ∙ 2,272 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,272 Sqft ∙ Built 2007
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.66
    •  
  • 4310 Springhaven Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2004
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.74
    •  
  • 6628 Nathan Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,295 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,295 Sqft ∙ Built 2017
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.73
    •  
PROPERTY LISTING DETAILS
Zanthia Hastings
1.704.737.6976
Real Broker Llc
BESbswy