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6120 Glenridge Road 
Charlotte, NC
28211
4 Beds 3 Baths 2,282 sqft
Built 1958
INVESTimate
$345,000
List Price
$97,175
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PROPERTY INFO
FACTS
- Built In 1958
- Price/Sqft : $151.18
- 2 Days on Market
- MLS # : 3654724
- Updated Date : 08/25/2020 at 12:46
CONSTRUCTION
- Beds : 4
- Floor Size : 2,282 sqft
- Baths : 2 full , 1 half
Listing Agent
Hudson Hampton Real Estate Con
Listing Agent's Description
A gem in Stonehaven and nestled on one of the best streets. Look no further for this updated ranch complete with wood flooring throughout the open-concept floor plan. The kitchen includes white cabinetry with granite countertops and new stainless steel appliances. The kitchen opens directly to the living room and foyer. Spacious dining room off of the kitchen that flows into the family room. The master suite has his/her vanities and a walk-in shower. The additional bedrooms are set in a jack and Jill footprint with a bathroom conveniently located between them. Entertain out on the stone patio in the backyard. Home also has a 2-car carport located in the rear of the home with a workshop. Fully fenced back yard. Roof is 5 years old, brand new HVAC (2020), large, sealed crawl space new plumbing and electrical. This home has charm and peace of mind as well all conveniently located to grocery stores, restaurants, uptown, Cotswold shopping center, Southpark and private schools.
SEE MORE
- 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: Stonehaven
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Stonehaven
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,030 |
| EXPENSES | Loan Payment | -$1,273 |
| Property Tax | -$355 | |
| Property Insurance | -$70 | |
| Property Management Fees | -$183 | |
|
CASH FLOW
$149
|
||
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.
$345,000
PROJECTED PRICE
$2,030
PROJECTED RENT
0.59%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 7.23% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$97,175
LOAN DETAILS
$1,273
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $86,250 |
| Loan Amount | $258,750 |
7
YEARS SAVED
$34,774
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,030
LIST RENT -
$0.89
LIST RENT PER SQFT
-
$2,356
COMP ESTIMATED VALUE -
$1.03
COMP AVG. RENT PER SQFT
Comps Range
-
6120 Glenridge Road Charlotte, NC 2
- 4 beds 3 baths ∙ 2,282 Sqft ∙ Built 1958 4 beds 3 baths ∙ 2,282 Sqft ∙ Built 1958
![property image]()
- Rent
- Rent Per SQFT
- $2,030
- $0.89
-
6609 Morganford Road Charlotte, NC 1
- 4 beds 3 baths ∙ 1,974 Sqft ∙ Built 1983 4 beds 3 baths ∙ 1,974 Sqft ∙ Built 1983
![property image]()
LEASED 08/05/20- Rent
- Rent Per SQFT
- $1,950
- $0.99
-
5544 Lansing Drive Charlotte, NC 3
- 4 beds 2 baths ∙ 2,186 Sqft ∙ Built 1963 4 beds 2 baths ∙ 2,186 Sqft ∙ Built 1963
![property image]()
LEASED 01/22/20- Rent
- Rent Per SQFT
- $2,100
- $0.96
-
5900 Kirkpatrick Road Charlotte, NC 4
- 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 1969 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 1969
![property image]()
LEASED 06/16/20- Rent
- Rent Per SQFT
- $2,199
- $1.05
-
5430 Finsbury Place Charlotte, NC 5
- 3 beds 2 baths ∙ 2,119 Sqft ∙ Built 1956 3 beds 2 baths ∙ 2,119 Sqft ∙ Built 1956
![property image]()
LEASED 03/12/20- Rent
- Rent Per SQFT
- $2,295
- $1.08
PROPERTY LISTING DETAILS
1.704.907.4405
Hudson Hampton Real Estate Con
