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6560 Long Nook Lane Indian Trail, NC 28079

3 Beds 3 Baths 1,638 sqft Built 1999

$260,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $158.73
  • 3 Days on Market
  • MLS # : 3681211
  • Updated Date : 11/13/2020 at 15:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,638 sqft
  • Baths : 2 full , 1 half
Listing Agent

Helen Adams Realty

Listing Agent's Description

Welcome to 6560 Long Nook Lane! Beautiful cul-de-sac home in sought after Brandon Oaks. Two story foyer with open floor plan. Kitchen has granite counters, TWO pantries, oak panel cabinets and windowed breakfast area. Laundry room off of kitchen has plenty of storage. Large two car garage. Family Room has a gas fireplace overlooking spacious deck on a large, flat, fenced yard lined with mature evergreens-perfect for kids and entertaining! Spacious owner's suite with tray ceiling, walk-in closet, double vanity master bath, garden tub and shower. Two additional bedrooms with a full bath on a second level. Brandon Oaks is a well planned community-loaded with amenities! Two swimming pools, tennis courts, basketball court, soccer field, pond, clubhouse, and walking trails! Close to Sun Valley Commons, restaurants, grocery stores, Sweet Union Brewery!

SEE MORE

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: Brandon Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Brandon Oaks

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
Sun Valley Elementary School Primary Regular 695 45 9
Sun Valley Middle School Middle Regular 1,365 69 6
Sun Valley High School High Regular 1,306 76 7

Sun Valley Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 45
9
GreatSchools Rating

Sun Valley Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 69
6
GreatSchools Rating

Sun Valley High School

  • Education Level: High
  • # of students: 1,306
  • # of teachers: 76
7
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$959
Property Tax -$170
Property Insurance -$58
HOA -$44
Property Management Fees -$132
CASH FLOW
$106

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.

$260,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.2%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$26,156

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,548

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4703$1,4954$1,6505$1,675
$1,675
RENT COMPS ANALYSIS
  • 6560 Long Nook Lane Indian Trail, NC 2
    • 3 beds 3 baths ∙ 1,638 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,638 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.90
    •  
  • 3007 Secret Garden Court Indian Trail, NC 1
    • 3 beds 1 baths ∙ 1,641 Sqft ∙ Built 2003 3 beds 1 baths ∙ 1,641 Sqft ∙ Built 2003
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
  • 2004 Helleri Drive Indian Trail, NC 3
    • 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 2005
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.99
    •  
  • 3004 Secret Garden Court Indian Trail, NC 4
    • 4 beds 2 baths ∙ 1,835 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,835 Sqft ∙ Built 2002
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 2016 Farmingham Lane Indian Trail, NC 5
    • 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 2001
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.01
    •  
PROPERTY LISTING DETAILS
Shaun Seth
1.513.349.8447
Helen Adams Realty
BESbswy