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6631 Rollingridge Drive Charlotte, NC 28211

4 Beds 3 Baths 2,030 sqft Built 1981

$349,900

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $172.36
  • 2 Days on Market
  • MLS # : 3692590
  • Updated Date : 12/19/2020 at 19:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,030 sqft
  • Baths : 2 full , 1 half
Listing Agent

Southern Way Homes Realty, Llc

Listing Agent's Description

Well maintained home in popular Waverly Hall, close to most everything, uptown, Arboretum, S Park, Cotswold, Mo-Ra. Situated on a beautiful corner lot, this 4-bdrm home has lovely new flooring downstairs, and exquisite crown molding throughout. Freshly painted interior including smooth ceilings. This home also boasts new windows, 2014 roof and siding, 2012 heatpump, and in 2019 an Air Scrubber and Bosch dishwasher. The backyard is currently completely natural with garden areas, a green house and even a chicken coop with egg laying chickens. All of that is negotiable and can be removed. Large paver patio area and beautiful gold fish pond. This one won't last long. Bring all offers!

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: Stonehaven

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $116k361k

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

Neighborhood: Stonehaven

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
Rama Road Elementary School Primary Regular 591 41 4
Mcclintock Middle School Middle Regular 855 55 3
East Mecklenburg High School High Regular 1,840 111 6

Rama Road Elementary School

  • Education Level: Primary
  • # of students: 591
  • # of teachers: 41
4
GreatSchools Rating

Mcclintock Middle School

  • Education Level: Middle
  • # of students: 855
  • # of teachers: 55
3
GreatSchools Rating

East Mecklenburg High School

  • Education Level: High
  • # of students: 1,840
  • # of teachers: 111
6
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,291
Property Tax -$305
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$50

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.

$349,900

PROJECTED PRICE

$1,830

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.2%
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$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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$31,429

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,994

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,830
1$1,8302$1,8503$1,8854$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 6631 Rollingridge Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,030 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,030 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.90
    •  
  • 7014 Tabor Lane Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,890 Sqft ∙ Built 1964 3 beds 3 baths ∙ 1,890 Sqft ∙ Built 1964
    property image
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.98
    •  
  • 6537 Morganford Road Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,022 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,022 Sqft ∙ Built 1983
    property image
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,885
    • $0.93
    •  
  • 6609 Morganford Road Charlotte, NC 4
    • 4 beds 3 baths ∙ 1,974 Sqft ∙ Built 1983 4 beds 3 baths ∙ 1,974 Sqft ∙ Built 1983
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.99
    •  
  • 1317 Piccadilly Drive Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,949 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,949 Sqft ∙ Built 1985
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.03
    •  
PROPERTY LISTING DETAILS
Brian Stickley
1.704.608.3619
Southern Way Homes Realty, Llc
BESbswy