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6434 Caymus Drive Charlotte, NC 28269

4 Beds 3 Baths 1,880 sqft Built 1999

$270,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $143.62
  • 4 Days on Market
  • MLS # : 3673173
  • Updated Date : 11/07/2020 at 06:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,880 sqft
  • Baths : 2 full , 1 half
Listing Agent

Southern Homes Of The Carolinas

Listing Agent's Description

MOVE IN READY! Original owner of this well maintained beautiful two story home features 4 bedroom and 2.5 bath. New AC Unit, New Furnace, 30 yr Architectural Shingle Roof (2017) New Dishwasher, New Electric Stove, New Gas Water Heater, Garage has new epoxy flooring, Upgraded bathrooms with tiled shower/bath, granite countertops and tiled floor. New and updated light fixtures. Hardwood floors have been refinished to a beautiful dark walnut color throughout the house which includes the steps and handrails to match. New paint throughout home with a beautiful shade of gray. New exterior paint with gray siding and black shutters. Fresh coat of paint on fence in back yard. New Garage door with remote openers. Located in the University/Mallard Creek area. Easy access to I-85, shopping, restaurants and more.

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: Rockwell Park - Hemphill Heights

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Rockwell Park - Hemphill Heights

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
David Cox Road Elementary School Primary Regular 784 46 4
Ridge Road Middle School Middle Regular 1,285 65 6
Mallard Creek High School High Regular 2,472 123 6

David Cox Road Elementary School

  • Education Level: Primary
  • # of students: 784
  • # of teachers: 46
4
GreatSchools Rating

Ridge Road Middle School

  • Education Level: Middle
  • # of students: 1,285
  • # of teachers: 65
6
GreatSchools Rating

Mallard Creek High School

  • Education Level: High
  • # of students: 2,472
  • # of teachers: 123
6
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$996
Property Tax -$235
Property Insurance -$62
HOA -$11
Property Management Fees -$143
CASH FLOW
$143

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.

$270,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.3%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$27,422

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,530

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,3853$1,4994$1,5755$1,590
$1,590
RENT COMPS ANALYSIS
  • 6434 Caymus Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 1,860 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,860 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.85
    •  
  • 6925 Brachnell View Drive Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,660 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,660 Sqft ∙ Built 2000
    property image
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.83
    •  
  • 6417 Spanish Moss Lane Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,681 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,681 Sqft ∙ Built 1996
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,385
    • $0.82
    •  
  • 3403 Pondridge Court Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,918 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,918 Sqft ∙ Built 1992
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.78
    •  
  • 6614 Mallard Park Drive Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,864 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,864 Sqft ∙ Built 2000
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.84
    •  
PROPERTY LISTING DETAILS
Sally Leatherwood
1.704.891.3607
Southern Homes Of The Carolinas
BESbswy