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10509 Kilchurn Court Charlotte, NC 28277

4 Beds 3 Baths 2,873 sqft Built 1999

$469,999

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $163.59
  • 3 Days on Market
  • MLS # : 3720041
  • Updated Date : 03/20/2021 at 17:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,873 sqft
  • Baths : 2 full , 1 half
Listing Agent

Engel & Völkers South Charlotte

Listing Agent's Description

Gorgeous Home is coming on the market in the heart of Ballantyne area! Grand entrance welcomes you to an open floor plan of this well maintained household. Freshly painted throughout. The home boasts around 3000 sq ft and features conveniently located upstairs 4 bedrooms, 2.5 bathrooms and large bonus room. Hardwood floor throughout the main level , large windows cast massive amount of sunlight! Great den area with a cozy fireplace opens up to a large kitchen with newer SS appliances, brand new refrigerator, kitchen island, granite countertops. You will absolutely enjoy the immaculate sunroom. Formal dining area combined with the living room is perfect for entertainment and creating memories with family & friends! Impressive backyard offers meticuolous landscaping and excellent grand deck for relaxing evenings or mornings to remember. Highly sought-after Ballantyne schools, close proximity to major highways, minutes to shopping, restaurants, parks. Welcome Home!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Ballantyne West

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Ballantyne West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8442026

* 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
Ballantyne Elementary School Primary Regular 850 44 9
Community House Middle School Middle Regular 1,750 81 9
Ardrey Kell High School High Regular 2,701 127 9

Ballantyne Elementary School

  • Education Level: Primary
  • # of students: 850
  • # of teachers: 44
9
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
 

$422,999$516,999$469,999

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,632
Property Tax -$420
Property Insurance -$81
HOA -$48
Property Management Fees -$119
CASH FLOW
-$111

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.

$469,999

PROJECTED PRICE

$2,190

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.3%
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-$5.0k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,300

INVESTMENT

$130,300

Down Payment
$117,500
Rehab Estimate
$5,750
Closing Costs
$7,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,632

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,500
Loan Amount $352,499
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$19,059

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,234

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,175
1$2,1752$2,1903$2,1954$2,2955$2,395
$2,395
RENT COMPS ANALYSIS
  • 10509 Kilchurn Court Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,873 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,873 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.76
    •  
  • 11412 Innes Court Charlotte, NC 1
    • 5 beds 3 baths ∙ 2,859 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,859 Sqft ∙ Built 1999
    LEASED 09/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.76
    •  
  • 12504 Chesley Drive Charlotte, NC 3
    • 4 beds 4 baths ∙ 2,826 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,826 Sqft ∙ Built 2004
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.78
    •  
  • 14720 Provence Lane Charlotte, NC 4
    • 5 beds 3 baths ∙ 2,926 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,926 Sqft ∙ Built 2006
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.78
    •  
  • 15232 Prescott Hill Avenue Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,925 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,925 Sqft ∙ Built 2005
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.82
    •  
PROPERTY LISTING DETAILS
Viktoriya Ovsyannikova
1.704.502.8991
Engel & Völkers South Charlotte
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3720041
Last Updated: 03/20/2021
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