Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6656 Blythedale Drive Charlotte, NC 28213

4 Beds 3 Baths 1,976 sqft Built 2000

$265,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $134.11
  • 3 Days on Market
  • MLS # : 3705589
  • Updated Date : 02/06/2021 at 18:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,976 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams South Park

Listing Agent's Description

Updated, beautiful, and move-in ready home offering a flat lot, 2 car garage, 4 bedrooms, 2.5 baths, with the master bedroom located on the main floor. Perfect for entertaining, the kitchen opens to the living room and has new granite with glass backsplash, new appliances- range/dishwasher/microwave. Looking for zero carpet? This home has luxury vinyl plank floor throughout the entire home and fresh neutral paint. Conveniently located in Rocky River Village, near the light rail and UNC-Charlotte.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Newell South

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Newell South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771518

* 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
Newell Elementary School Primary Regular 818 47 4
Martin Luther King Jr Middle School Middle Regular 1,102 57 2
Vance High School High Regular 1,714 91 3

Newell Elementary School

  • Education Level: Primary
  • # of students: 818
  • # of teachers: 47
4
GreatSchools Rating

Martin Luther King Jr Middle School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 57
2
GreatSchools Rating

Vance High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 91
3
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$920
Property Tax -$231
Property Insurance -$64
HOA -$15
Property Management Fees -$119
CASH FLOW
$320

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.

$265,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

11.42

YEARS SAVED

$45,850

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,699

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,6003$1,6704$1,7455$1,800
$1,800
RENT COMPS ANALYSIS
  • 6656 Blythedale Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,976 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,976 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.85
    •  
  • 509 Glen Ellyn Court Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,664 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,664 Sqft ∙ Built 1986
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.86
    •  
  • 8819 Challenger Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 1,933 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,933 Sqft ∙ Built 2001
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
  • 6554 Dougherty Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,110 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,110 Sqft ∙ Built 1986
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.83
    •  
  • 430 Carolyn Lane Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,960 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,960 Sqft ∙ Built 2019
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.92
    •  
PROPERTY LISTING DETAILS
Andria Sarvey
1.704.609.7669
Keller Williams South Park
BESbswy