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6842 Charter Hills Road Charlotte, NC 28277

6 Beds 4 Baths 2,697 sqft Built 1997

INVESTimate

$422,500

List Price

$2,390

$2,151 - $2,629

Rent Est.

$442,527  ( +4.74%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $156.66
  • 8 Days on Market
  • MLS # : 3652320
  • Updated Date : 08/25/2020 at 21:22
CONSTRUCTION
  • Beds : 6
  • Floor Size : 2,697 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Welcome Home to the Heart of Ballantyne! This Lovely Home is Nestled in the Highly Desirable Community of Thornhill. Beautifully Wooded Premium/Private, Cul-De-Sac Lot. This Basement Home features 5 bedrooms, a bonus room or 6th Bd Rm & 4 baths. Main Level Offers 9 ft. Ceilings, a Luxurious Living Room w/10" Crown Molding and a Beautiful Gourmet Kitchen w/a Large Island, Silestone Counters and Stainless Steel Appliances. Many updates include New Roof, Recently Replaced Central Air Unit, Custom Built-Ins & Upgraded Lighting. Upstairs you will find 4 Large Bedrooms and 2 Full Baths. There is an Additional Bedroom & Full Bath, and Bonus Room on The Lower Level. Large Screened In Porch on the Main Level & a Covered Patio Below. Thornhill Offers an Amazing Outdoor Pool/Pavilion Area w/Playground, Walking Trails, Pond, Tennis & Basketball Courts & Neighborhood Events. Walking Distance to Restaurants, Shopping & More! 2 Plus Yrs Select Home Warranty to be Transferred at Closing!

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: Ballantyne East

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $116k438k

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

Neighborhood: Ballantyne East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $8442519

* 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
Endhaven Elementary School Primary Regular 713 41 6
Community House Middle School Middle Regular 1,750 81 9
Ardrey Kell High School High Regular 2,701 127 9

Endhaven Elementary School

  • Education Level: Primary
  • # of students: 713
  • # of teachers: 41
6
GreatSchools Rating

Community House Middle School

  • Education Level: Middle
  • # of students: 1,750
  • # of teachers: 81
9
GreatSchools Rating

Ardrey Kell High School

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

$380,250$464,750$422,500

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

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$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,559
Property Tax -$418
Property Insurance -$78
HOA -$49
Property Management Fees -$215
CASH FLOW
$72

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.

$422,500

PROJECTED PRICE

$2,390

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.74%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,713

INVESTMENT

$117,713

Down Payment
$105,625
Rehab Estimate
$5,750
Closing Costs
$6,338

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,559

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $105,625
Loan Amount $316,875
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$30,620

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,333

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,390
1$2,3902$2,5003$2,550
$2,550
RENT COMPS ANALYSIS
  • 6842 Charter Hills Road Charlotte, NC 1
    • 6 beds 4 baths ∙ 2,697 Sqft ∙ Built 1997 6 beds 4 baths ∙ 2,697 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.89
    •  
  • 13033 Oakhaven Glen Lane Charlotte, NC 2
    • 5 beds 3 baths ∙ 2,806 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,806 Sqft ∙ Built 2017
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.89
    •  
  • 9709 Tenencia Court Charlotte, NC 3
    • 5 beds 3 baths ∙ 3,040 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,040 Sqft ∙ Built 2000
    LEASED 07/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.84
    •  
PROPERTY LISTING DETAILS
Kevin Carnes
1.803.372.8074
Exp Realty
BESbswy