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6801 Stillmeadow Drive Charlotte, NC 28277

4 Beds 2 Baths 2,271 sqft Built 1986

$350,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $154.12
  • 5 Days on Market
  • MLS # : 3677828
  • Updated Date : 10/30/2020 at 16:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,271 sqft
  • Baths : 2 full
Listing Agent

Southern Homes Of The Carolinas

Listing Agent's Description

Beautiful, open ranch with 4 bedrooms and a bonus. All new siding, new windows, hot water heater- 2 years old, new exterior lighting, luxury vinyl plank flooring, new interior doors, new sliding glass door, new front porch addition, new ceiling fans, HVAC few years old, new kitchen appliances and sink. Large, private, flat lot that was just aerated and seeded, plus brand new fence. Great schools, easy access to 485 and no HOA dues. Blinds in home will be removed- do not convey.

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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: Provincetowne

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $116k363k

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

Neighborhood: Provincetowne

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8442138

* 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
Polo Ridge Elementary School Primary Regular 1,036 55 NA
Jay M. Robinson Middle School Middle Regular 1,101 51 10
Ardrey Kell High School High Regular 2,701 127 9

Polo Ridge Elementary School

  • Education Level: Primary
  • # of students: 1,036
  • # of teachers: 55
NA
GreatSchools Rating

Jay M. Robinson Middle School

  • Education Level: Middle
  • # of students: 1,101
  • # of teachers: 51
10
GreatSchools Rating

Ardrey Kell High School

  • Education Level: High
  • # of students: 2,701
  • # of teachers: 127
9
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,291
Property Tax -$305
Property Insurance -$70
Property Management Fees -$167
CASH FLOW
$17

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.

$350,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% 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 $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$22,318

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,072

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9503$1,9954$2,1505$2,195
$2,195
RENT COMPS ANALYSIS
  • 6801 Stillmeadow Drive Charlotte, NC 1
    • 4 beds 2 baths ∙ 2,271 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,271 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.81
    •  
  • 8611 Dennington Grove Lane Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,122 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,122 Sqft ∙ Built 2001
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.92
    •  
  • 10755 Colony Woods Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 1986
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.91
    •  
  • 8710 Darcy Hopkins Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2002
    property image
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.90
    •  
  • 8812 Darcy Hopkins Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2002
    property image
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.92
    •  
PROPERTY LISTING DETAILS
Danielle Santella
1.704.577.0365
Southern Homes Of The Carolinas
BESbswy