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117 Marcella Drive Kings Mountain, NC 28086

3 Beds 2 Baths 1,191 sqft Built 2007

$199,900

List Price

$1,200

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $167.84
  • 2 Days on Market
  • MLS # : CAR3759872
  • Updated Date : 07/12/2021 at 17:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,191 sqft
  • Baths : 2 full
Listing Agent

Allen Tate Shelby

Listing Agent's Description

Immaculate home in Crocker Ridge, Wood floors & laminate in master bedroom. Walk in closet, garden tub in master. TV stays. Tray ceiling in master. Open floor plan in living room, kitchen and dining. Gas fireplace, double garage w/pull down stairs to large attic storage. Building in back yard stays.

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

Zip Code: 28086

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150kPrice in $55k157k

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

Zip Code: 28086

No Data Available.

* 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
Bethware Elementary School Primary Regular 449 28 6
Kings Mountain Middle School Middle Regular 665 44 4
Kings Mountain High School High Regular 1,272 86 7

Bethware Elementary School

  • Education Level: Primary
  • # of students: 449
  • # of teachers: 28
6
GreatSchools Rating

Kings Mountain Middle School

  • Education Level: Middle
  • # of students: 665
  • # of teachers: 44
4
GreatSchools Rating

Kings Mountain High School

  • Education Level: High
  • # of students: 1,272
  • # of teachers: 86
7
GreatSchools Rating
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,080$1,320$1,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,200
EXPENSES Loan Payment -$694
Property Tax -$169
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
$168

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.

$199,900

PROJECTED PRICE

$1,200

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 3.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$694

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$24,921

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,108

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$7993$1,595
$1,595
RENT COMPS ANALYSIS
  • 117 Marcella Drive Kings Mountain, NC 1
    • 3 beds 2 baths ∙ 1,191 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,191 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 113 School Street Kings Mountain, NC 2
    • 3 beds 1 baths ∙ 993 Sqft ∙ Built 1956 3 beds 1 baths ∙ 993 Sqft ∙ Built 1956
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $799
    • $0.80
    •  
  • 121 Rosedale Street Kings Mountain, NC 3
    • 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 3 beds 2 baths ∙ 1,506 Sqft ∙ Built
    property image
    LEASED 04/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.06
    •  
PROPERTY LISTING DETAILS
Gail Bell
1.704.482.6311
Allen Tate Shelby
BESbswy