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6536 Georgia Oak Drive #85 Evelyn Charlotte, NC 28269

4 Beds 3 Baths 2,555 sqft Built 2020

$384,658

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $150.55
  • 2 Days on Market
  • MLS # : 3694960
  • Updated Date : 01/02/2021 at 11:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,555 sqft
  • Baths : 3 full
Listing Agent

Mattamy Carolina Corporation

Listing Agent's Description

Beautiful New Construction- Gorgeous Evelyn plan “French Country" elevation 4 bedroom 3 bath home. 1st floor includes owner's suite with luxurious bath oasis plus 2 additional bedrooms and 2nd bath , fantastic family room with gas log fireplace, kitchen with large granite island and counter tops. This home also includes 1 bedroom, 1 bathroom plus large loft on the 2nd floor. , appliance package includes refrigerator, washer, dryer & window blinds.

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MARKET HIGHLIGHTS

  • 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)

PRICE & RENT TRENDS

Neighborhood: Davis Lake - Eastfield

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Davis Lake - Eastfield

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Blythe Elementary School Primary Regular 1,038 67 5
J.m. Alexander Middle School Middle Regular 865 40 4
North Mecklenburg High School High Regular 1,881 101 3

Blythe Elementary School

  • Education Level: Primary
  • # of students: 1,038
  • # of teachers: 67
5
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
 

$346,192$423,124$384,658

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,419
Property Tax -$355
Property Insurance -$75
HOA -$63
Property Management Fees -$119
CASH FLOW
-$22

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$384,658

PROJECTED PRICE

$2,010

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,934

INVESTMENT

$103,934

Down Payment
$96,165
Rehab Estimate
$2,000
Closing Costs
$5,770

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,419

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,165
Loan Amount $288,494
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$25,563

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,999

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,635
1$1,6352$1,7993$1,9954$1,9955$2,010
$2,010
RENT COMPS ANALYSIS
  • 6536 Georgia Oak Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,555 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,555 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.79
    •  
  • 4801 Canipe Drive Charlotte, NC 1
    • 5 beds 3 baths ∙ 2,258 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,258 Sqft ∙ Built 2006
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,635
    • $0.72
    •  
  • 4537 Canipe Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 2004
    property image
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.77
    •  
  • 7814 Meridale Forest Drive Charlotte, NC 3
    • 3 beds 2 baths ∙ 2,370 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,370 Sqft ∙ Built 2018
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.84
    •  
  • 7822 Meridale Forest Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2018
    property image
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.80
    •  
PROPERTY LISTING DETAILS
Jerry Critchlow
1.574.339.2250
Mattamy Carolina Corporation
BESbswy