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10930 Kempsford Drive Charlotte, NC 28262

4 Beds 3 Baths 2,934 sqft Built 2008

$285,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $97.14
  • 7 Days on Market
  • MLS # : 3688369
  • Updated Date : 12/09/2020 at 15:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,934 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allen Tate University

Listing Agent's Description

Coming soon! Mark your calendar to view this home starting Saturday, December 12th! Former model home located near neighborhood park. Very spacious interior! Modern, open floor plan with large room and lots of natural light. Huge kitchen with center island. Really great master suite has vaulted ceilings, two walk-in closets, sitting room, garden tub, & dual vanity sinks. All secondary bedrooms are large with high ceilings. Upstairs hall bath has dual sinks too! Deep, level backyard. Located across the street from neighborhood playground & cabana. Just minutes to 485, I-85, & Concord Mills shopping & dining.

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: Harris - Houston

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230kPrice in $111k235k

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

Neighborhood: Harris - Houston

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7331518

* 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
Stoney Creek Elementary School Primary Regular 853 50 4
James Martin Middle School Middle Regular 1,113 54 3
Vance High School High Regular 1,714 91 3

Stoney Creek Elementary School

  • Education Level: Primary
  • # of students: 853
  • # of teachers: 50
4
GreatSchools Rating

James Martin Middle School

  • Education Level: Middle
  • # of students: 1,113
  • # of teachers: 54
3
GreatSchools Rating

Vance High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 91
3
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,052
Property Tax -$248
Property Insurance -$82
HOA -$18
Property Management Fees -$119
CASH FLOW
$240

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.

$285,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 9.2%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$43,514

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.6

    LIST RENT PER SQFT
  • $1,746

    COMP ESTIMATED VALUE
  • $0.6

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5953$1,7454$1,7605$1,825
$1,825
RENT COMPS ANALYSIS
  • 10930 Kempsford Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,934 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,934 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.60
    •  
  • 2117 Speedwell Court Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,808 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,808 Sqft ∙ Built 2002
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.53
    •  
  • 412 Halliwell Street Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,604 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,604 Sqft ∙ Built 1991
    property image
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.61
    •  
  • 12004 Prails Mill Lane Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,741 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,741 Sqft ∙ Built 1990
    property image
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.64
    •  
  • 214 Oakton Glen Court Charlotte, NC 5
    • 4 beds 3 baths ∙ 3,168 Sqft ∙ Built 2010 4 beds 3 baths ∙ 3,168 Sqft ∙ Built 2010
    property image
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.58
    •  
PROPERTY LISTING DETAILS
Amy Baker
1.704.258.1459
Allen Tate University
BESbswy