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11019 Kinnairds Street Charlotte, NC 28278

3 Beds 2 Baths 2,091 sqft Built 2007

$295,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 08, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $141.08
  • 2 Days on Market
  • MLS # : 3680488
  • Updated Date : 11/07/2020 at 21:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,091 sqft
  • Baths : 2 full
Listing Agent

Carolina Alpine Property Management Llc

Listing Agent's Description

Located in the spectacular neighborhood of Berewick. This amazing 3 bedroom home features lots of natural light, open floorplan, huge kitchen with a ton of cabinet space. Large Master Suite with walk in closet and private bath. Great location with easy access to shopping, restaurants and some of the best entertainment activities in Charlotte. The Community includes 2 pools & Splashpad, playground, beach volleyball, fishing pond, walking trails and more. This home is sold as is.

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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

Neighborhood: Berewick

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Berewick

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8441914

* 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
Berewick Elementary School Primary Regular 601 38 6
Kennedy Middle School Middle Regular 722 43 4
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

Berewick Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 38
6
GreatSchools Rating

Kennedy Middle School

  • Education Level: Middle
  • # of students: 722
  • # of teachers: 43
4
GreatSchools Rating

Math, Engineering, Technology And Science At Olympic High School

  • Education Level: High
  • # of students: 607
  • # of teachers: 28
7
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,088
Property Tax -$260
Property Insurance -$67
HOA -$67
Property Management Fees -$151
CASH FLOW
$48

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.

$295,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$20,590

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,699

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,549
1$1,5492$1,6803$1,6954$1,7955$1,895
$1,895
RENT COMPS ANALYSIS
  • 11019 Kinnairds Street Charlotte, NC 2
    • 3 beds 2 baths ∙ 2,091 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,091 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.80
    •  
  • 10510 Hawick Court Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,992 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,992 Sqft ∙ Built 2006
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $0.78
    •  
  • 5712 Selkirkshire Road Charlotte, NC 3
    • 3 beds 3 baths ∙ 2,184 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,184 Sqft ∙ Built 2015
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.78
    •  
  • 10433 Cullen Court Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,057 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,057 Sqft ∙ Built 2008
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.87
    •  
  • 9042 Seamill Road Charlotte, NC 5
    • 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 2008
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.83
    •  
PROPERTY LISTING DETAILS
Terell Culpepper
1.704.807.1414
Carolina Alpine Property Management Llc
BESbswy