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6508 Tensbury Court Charlotte, NC 28210

4 Beds 3 Baths 2,142 sqft Built 1968

$429,900

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $200.70
  • 7 Days on Market
  • MLS # : 3710822
  • Updated Date : 02/23/2021 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,142 sqft
  • Baths : 3 full
Listing Agent

Re/max Executive

Listing Agent's Description

Wonderful full brick 4BR/3BA home in highly sought after Huntingtowne Farms! Situated on a beautiful, private, wooded, cul de sac lot. Perfect home to Update/Renovate in the SouthPark Area. Hardwood flooring under much of the carpet. Endless possibilities to make this home your own. Open up the main level's traditional floor plan to make a fabulous kitchen, dining & great room space. Original bathrooms just waiting for your ideas and touches. The lower level offers a massive great room, a private 4th bedroom, and a full bath that is perfect for guests. Enjoy the mountain like views from the huge rear deck. Renovate now or move-in & do the work later. Walk or ride your bike to the neighborhood access of Southpark Swim and Tennis Club, the Little Sugar Creek Greenway access, and the neighborhood park. Great location! Close to everything! Home sold As Is.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Quail Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $116k371k

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

Neighborhood: Quail Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8442041

* 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
Huntingtowne Farms Elementary School Primary Regular 947 60 4
Carmel Middle School Middle Regular 1,050 58 7
South Mecklenburg High School High Regular 2,913 147 7

Huntingtowne Farms Elementary School

  • Education Level: Primary
  • # of students: 947
  • # of teachers: 60
4
GreatSchools Rating

Carmel Middle School

  • Education Level: Middle
  • # of students: 1,050
  • # of teachers: 58
7
GreatSchools Rating

South Mecklenburg High School

  • Education Level: High
  • # of students: 2,913
  • # of teachers: 147
7
GreatSchools Rating
 

$386,910$472,890$429,900

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,493
Property Tax -$375
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$104

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.

$429,900

PROJECTED PRICE

$1,950

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.6%
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$119,674

INVESTMENT

$119,674

Down Payment
$107,475
Rehab Estimate
$5,750
Closing Costs
$6,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,493

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,475
Loan Amount $322,425
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$17,942

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,003

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9003$1,9504$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 6508 Tensbury Court Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.91
    •  
  • 1518 Starmount Cove Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,025 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,025 Sqft ∙ Built 2020
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.91
    •  
  • 7106 Thornrose Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,025 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,025 Sqft ∙ Built 2020
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.94
    •  
  • 7015 Thornrose Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,025 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,025 Sqft ∙ Built 2020
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.99
    •  
  • 2510 Red Barn Lane Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,229 Sqft ∙ Built 1967 4 beds 3 baths ∙ 2,229 Sqft ∙ Built 1967
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
PROPERTY LISTING DETAILS
Hans Wormley
1.704.907.4830
Re/max Executive
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3710822
Last Updated: 02/23/2021
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