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6931 Nathan Drive Charlotte, NC 28269

4 Beds 3 Baths 2,662 sqft Built 2017

$265,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $99.55
  • 6 Days on Market
  • MLS # : 3636369
  • Updated Date : 11/27/2020 at 08:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,662 sqft
  • Baths : 2 full , 1 half
Listing Agent

Puma & Associates Realty, Inc.

Listing Agent's Description

Must see home in Oakbrooke! Great curb appeal w/ covered front porch & fully fenced yard! Sought after open floor plan w/ owner’s suite on main! Welcoming entry way leads to the dining room perfect for hosting gatherings. Eat-in kitchen w/ stainless steel appliances, center island w/ breakfast bar, pantry & tons of cabinet space. Great room w/ lots of natural light and access to the backyard. Elegant owner's retreat w/ walk in closet. En-suite bath w/ dual vanity, shower & separate soaking tub. Spacious secondary bedrooms, large loft, bathroom on second floor! Spacious backyard w/ patio is perfect for grilling & entertaining! Great Charlotte location, close to schools, parks, restaurants & shopping! Easy access to UNC Charlotte, Northlake mall area, I-77, I-85 & I-485!

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: West Sugar Creek

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $106k235k

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

Neighborhood: West Sugar Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8421518

* 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
Winding Springs Elementary School Primary Regular 859 60 3
J.m. Alexander Middle School Middle Regular 865 40 4
North Mecklenburg High School High Regular 1,881 101 3

Winding Springs Elementary School

  • Education Level: Primary
  • # of students: 859
  • # of teachers: 60
3
GreatSchools Rating

J.m. Alexander Middle School

  • Education Level: Middle
  • # of students: 865
  • # of teachers: 40
4
GreatSchools Rating

North Mecklenburg High School

  • Education Level: High
  • # of students: 1,881
  • # of teachers: 101
3
GreatSchools Rating
 

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

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$978
Property Tax -$235
Property Insurance -$77
HOA -$17
Property Management Fees -$161
CASH FLOW
$323

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$265,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

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 30% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

10.33

YEARS SAVED

$47,730

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,804

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6653$1,6754$1,6755$1,790
$1,790
RENT COMPS ANALYSIS
  • 6931 Nathan Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,662 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,662 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.67
    •  
  • 8428 Panglemont Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,388 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,388 Sqft ∙ Built 2007
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.67
    •  
  • 8735 Earthenware Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2006
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,665
    • $0.69
    •  
  • 8422 Oak Drive Ne Charlotte, NC 3
    • 5 beds 3 baths ∙ 2,632 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,632 Sqft ∙ Built 2006
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.64
    •  
  • 6620 Nathan Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 2018
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.71
    •  
PROPERTY LISTING DETAILS
Phil Puma
1.704.375.2495
Puma & Associates Realty, Inc.
BESbswy