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6905 Sardis Green Court Charlotte, NC 28270

4 Beds 3 Baths 2,844 sqft Built 1995

$399,800

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $140.58
  • 3 Days on Market
  • MLS # : 3671094
  • Updated Date : 11/13/2020 at 11:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,844 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams South Park

Listing Agent's Description

LOCATION, LOCATION, LOCATION. This CUL-DE-SAC home has so much to offer. You may be wondering how this gem even snuck on the market at this price. It's been a family home for many years and now it's ready for your final updates and the next owner to enjoy. This homes layout is excellent for entertaining and the PRIVACY. Downstairs is OPEN CONCEPT. Upstairs has a really cool MASTER SUITE WITH FIREPLACE. Great ceiling height and oversize garage with STORAGE GALORE. This home is CLOSE TO ALL KINDS OF DINING AND SHOPPING AND ROADS TO GET AROUND. Make it home and enjoy the RETREAT.

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: Lansdowne

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k456k

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

Neighborhood: Lansdowne

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8442192

* 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
Lansdowne Elementary School Primary Regular 643 41 5
Mcclintock Middle School Middle Regular 855 55 3
East Mecklenburg High School High Regular 1,840 111 6

Lansdowne Elementary School

  • Education Level: Primary
  • # of students: 643
  • # of teachers: 41
5
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
 

$359,820$439,780$399,800

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,475
Property Tax -$381
Property Insurance -$81
Property Management Fees -$210
CASH FLOW
$184

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.

$399,800

PROJECTED PRICE

$2,330

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.1%
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$1.4M

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$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,697

INVESTMENT

$111,697

Down Payment
$99,950
Rehab Estimate
$5,750
Closing Costs
$5,997

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,950
Loan Amount $299,850
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$42,173

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,631

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,3303$2,4004$2,6005$2,795
$2,795
RENT COMPS ANALYSIS
  • 6905 Sardis Green Court Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,844 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,844 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.82
    •  
  • 6319 Prett Court Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,503 Sqft ∙ Built 1966 4 beds 3 baths ∙ 2,503 Sqft ∙ Built 1966
    LEASED 07/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
  • 6118 Garamond Court Charlotte, NC 3
    • 4 beds 4 baths ∙ 2,520 Sqft ∙ Built 1994 4 beds 4 baths ∙ 2,520 Sqft ∙ Built 1994
    LEASED 06/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.95
    •  
  • 1426 Jules Court Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,916 Sqft ∙ Built 1983 3 beds 3 baths ∙ 2,916 Sqft ∙ Built 1983
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.89
    •  
  • 6636 Ciscayne Place Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 1979
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.02
    •  
PROPERTY LISTING DETAILS
Paul Jamison
1.704.819.0010
Keller Williams South Park
BESbswy