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6431 High Creek Court Charlotte, NC 28277

4 Beds 3 Baths 2,670 sqft Built 1990

$469,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $175.66
  • 14 Days on Market
  • MLS # : 3694094
  • Updated Date : 12/29/2020 at 09:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,670 sqft
  • Baths : 2 full , 1 half
Listing Agent

Carolinas Realty

Listing Agent's Description

Fabulously updated home with updated kitchen with new stainless steel appliances and hardwood flooring throughout the home. Home features Vaulted ceiling, spacious rooms, fresh paint, lovely screen porch, fenced backyard with lot of privacy. Master bedroom has tray ceiling. Fourth bedroom could be bonus room. Lovely private fenced backyard with stream in the back. Enjoy natural beauty by relaxing in the screen porch or grill out on the deck. Highly desirable Ballantyne area schools. Don't miss this great opportunity. Hurry, this well maintained beauty won't last long.

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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: Ballantyne East

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $116k438k

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

Neighborhood: Ballantyne East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $8442519

* 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
Endhaven Elementary School Primary Regular 713 41 6
Community House Middle School Middle Regular 1,750 81 9
Ardrey Kell High School High Regular 2,701 127 9

Endhaven Elementary School

  • Education Level: Primary
  • # of students: 713
  • # of teachers: 41
6
GreatSchools Rating

Community House Middle School

  • Education Level: Middle
  • # of students: 1,750
  • # of teachers: 81
9
GreatSchools Rating

Ardrey Kell High School

  • Education Level: High
  • # of students: 2,701
  • # of teachers: 127
9
GreatSchools Rating
 

$422,100$515,900$469,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,629
Property Tax -$409
Property Insurance -$77
HOA -$49
Property Management Fees -$119
CASH FLOW
-$133

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.

$469,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,035

INVESTMENT

$130,035

Down Payment
$117,250
Rehab Estimate
$5,750
Closing Costs
$7,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,629

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,250
Loan Amount $351,750
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$17,635

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,129

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9503$2,1504$2,2205$2,450
$2,450
RENT COMPS ANALYSIS
  • 6431 High Creek Court Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.81
    •  
  • 6621 Charter Hills Road Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 1994
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.75
    •  
  • 6220 Rosebriar Lane Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,692 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,692 Sqft ∙ Built 1995
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.72
    •  
  • 6800 Charter Hills Road Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,576 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,576 Sqft ∙ Built 1997
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.86
    •  
  • 9923 Tealridge Lane Charlotte, NC 5
    • 3 beds 3 baths ∙ 2,847 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,847 Sqft ∙ Built 1986
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.86
    •  
PROPERTY LISTING DETAILS
Benoy Peters
1.704.763.3964
Carolinas Realty
BESbswy