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6507 Matlea Court Charlotte, NC 28215

3 Beds 3 Baths 2,250 sqft Built 2006

$270,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

$77,300

Investment Est.

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AVAILABLE

1 Year
(+8.4%)
1 YR. PROJ. APPRECIATION


Cap Rate	3.9%
Cash Flow	$1,032
Value Increase	$23,301

10 YEAR

Cash On Cash	-0.5%
Total Return	13.6%

PROPERTY INFO

January 01, 2021 RECENTLY ADDED

FACTS

Single Family
Built In 2006
Price/Sqft : $120.00
4 Days on Market
MLS # : 3694660
Updated Date : 12/31/2020 at 22:20

CONSTRUCTION

Beds : 3
Floor Size : 2,250 sqft
Baths : 2 full , 1 half

Listing Agent

Tierra Bella Realty Inc.

Listing Agent's Description

This 3 bed 2 1/2 bath home is move in ready! Fresh paint and new carpeting upstairs and hardwood floors on the main make this home a dream! On the second floor a room was added to the great room however this is currently unpermitted space and would need to be inspected by the city for final approval.

6502 Matlea Ct

Charlotte, North Carolina

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MARKET HIGHLIGHTS

Charlotte Market Report

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)

Neighborhood: Hickory Grove

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

Neighborhood: Hickory Grove

* 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
Joseph W. Grier Academy	Primary	Regular	789	50	3
Northridge Middle School	Middle	Regular	779	43	3
Rocky River High School	High	Regular	1,710	90	3

Joseph W. Grier Academy

Education Level: Primary
# of students: 789
# of teachers: 50

GreatSchools Rating

Northridge Middle School

Education Level: Middle
# of students: 779
# of teachers: 43

GreatSchools Rating

Rocky River High School

Education Level: High
# of students: 1,710
# of teachers: 90

GreatSchools Rating

FINANCIALS

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$243,000$297,00000$270,000

PURCHASE PRICE

$1,377$1,68300$1,530

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

Learn how to read this

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$1,530
EXPENSES	Loan Payment	-$996
	Property Tax	-$235
	Property Insurance	-$70
	HOA	-$24
	Property Management Fees	-$119



CASH FLOW $86

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.

$270,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.57%

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

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

INVESTMENT

$77,300

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

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr

4.25%

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

6.67

YEARS SAVED

$25,184

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$1,530
LIST RENT
$0.68
LIST RENT PER SQFT

$1,558
COMP ESTIMATED VALUE
$0.69
COMP AVG. RENT PER SQFT

Comps Range

$1,400

1$1,4002$1,4253$1,4954$1,5005$1,530

$1,530

RENT COMPS ANALYSIS

2,250
PROPERTY SQFT
$0.69
AVG RENT PER SQFT
$1,558
ESTIMATED VALUE
$1,530
LIST RENT

6507 Matlea Court Charlotte, NC 5

3 beds 3 baths ∙ 2,250 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,250 Sqft ∙ Built 2006
Price

Price Per SQFT

$270,000

$120.00
8108 Nikki Cole Drive Charlotte, NC 1

3 beds 3 baths ∙ 1,982 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 2005
SOLD 09/04/20
Price

Price Per SQFT

$197,000

$99.39
7416 Mary Jo Helms Drive Charlotte, NC 2

3 beds 3 baths ∙ 2,139 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,139 Sqft ∙ Built 2003
SOLD 10/28/20
Price

Price Per SQFT

$224,000

$104.72
9627 Weikert Road Charlotte, NC 3

4 beds 3 baths ∙ 2,382 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,382 Sqft ∙ Built 2018
SOLD 08/20/20
Price

Price Per SQFT

$248,000

$104.11
8424 Highgate Drive Charlotte, NC 4

4 beds 3 baths ∙ 2,368 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,368 Sqft ∙ Built 2019
SOLD 07/24/20
Price

Price Per SQFT

$258,900

$109.33

6507 Matlea Court Charlotte, NC 5

3 beds 3 baths ∙ 2,250 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,250 Sqft ∙ Built 2006
Rent

Rent Per SQFT

$1,530

$0.68
6911 Lakeside Drive Charlotte, NC 1

3 beds 2 baths ∙ 1,916 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 1956
LEASED 07/15/20
Rent

Rent Per SQFT

$1,400

$0.73
6502 Matlea Court Charlotte, NC 2

4 beds 3 baths ∙ 2,266 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 2006
LEASED 02/06/20
Rent

Rent Per SQFT

$1,425

$0.63
2733 Red Squirrel Trail Charlotte, NC 3

3 beds 3 baths ∙ 2,052 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,052 Sqft ∙ Built 2006
LEASED 02/28/20
Rent

Rent Per SQFT

$1,495

$0.73
2726 Red Squirrel Trail Charlotte, NC 4

4 beds 3 baths ∙ 2,300 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 2007
LEASED 06/15/20
Rent

Rent Per SQFT

$1,500

$0.65

PROPERTY LISTING DETAILS

Michael Harman
1.980.214.8568
Tierra Bella Realty Inc.

6507 Matlea Court Charlotte, NC 28215

$270,000

$1,530

$77,300

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Joseph W. Grier Academy

Northridge Middle School

Rocky River High School

FINANCIALS

$243,000$297,00000$270,000

$1,377$1,68300$1,530

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$270,000

$1,530

0.57%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$996

6.67

$25,184

$270,000

$120

$234,872

$104.39

COMPS RANGE

PRICE COMPS ANALYSIS

$1,530

$0.68

$1,558

$0.69

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS