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104 Kendrick Meadow Lane Mount Holly, NC 28120

5 Beds 3 Baths 3,019 sqft Built 2014

$300,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $99.37
  • 4 Days on Market
  • MLS # : 3697533
  • Updated Date : 01/16/2021 at 15:03
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,019 sqft
  • Baths : 3 full
Listing Agent

Keller Williams South Park

Listing Agent's Description

Multiple offers received. Highest and best due by 9pm Sunday 1/17/2021. Seller plans to pick an offer by noon on Monday 1/18/2021. Meticulously maintained by original owners. This move-in ready home is perfect for entertaining; boasting a spacious great room and kitchen, ideal outdoor living space with a large covered patio, tv and bar! Many new upgrades to the home give it a luxurious feel including wainscot paneling, detailed crown molding, new granite, stainless steel appliances, luxury vinyl plank flooring and fresh paint throughout. Downstairs has a guest bedroom, office and full bath. Upstairs you will find a large loft as another perfect place for entertaining, laundry room, master bedroom w ensuite, 3 more bedrooms and a third full bathroom. Extremely sought-after, family-oriented neighborhood in Mt. Holly with community center and large pool and only 4 doors down from playground!

SEE MORE

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

Zip Code: 28120

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210kPrice in $110k213k

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

Zip Code: 28120

ZipNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400Rent in $8231440

* 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
Pinewood Elementary School Primary Regular 581 34 6
Mount Holly Middle School Middle Regular 771 41 7
East Gaston High School High Regular 1,122 67 5

Pinewood Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 34
6
GreatSchools Rating

Mount Holly Middle School

  • Education Level: Middle
  • # of students: 771
  • # of teachers: 41
7
GreatSchools Rating

East Gaston High School

  • Education Level: High
  • # of students: 1,122
  • # of teachers: 67
5
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,042
Property Tax -$356
Property Insurance -$84
HOA -$42
Property Management Fees -$119
CASH FLOW
$68

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.

$300,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$19,084

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.57

    LIST RENT PER SQFT
  • $1,540

    COMP ESTIMATED VALUE
  • $0.51

    COMP AVG. RENT PER SQFT
Comps Range
$1,545
1$1,5452$1,710
$1,710
RENT COMPS ANALYSIS
  • 104 Kendrick Meadow Lane Mount Holly, NC 2
    • 5 beds 3 baths ∙ 3,019 Sqft ∙ Built 2014 5 beds 3 baths ∙ 3,019 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.57
    •  
  • 124 Fawn Ridge Court Mount Holly, NC 1
    • 4 beds 3 baths ∙ 3,059 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,059 Sqft ∙ Built 2007
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.51
    •  
PROPERTY LISTING DETAILS
John Fitzpatrick
1.704.877.4689
Keller Williams South Park
BESbswy