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1201 Kiker Circle Charlotte, NC 28214

3 Beds 1 Baths 1,472 sqft Built 1949

$225,000

List Price

$1,150

$1K - $1.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1949
  • Price/Sqft : $152.85
  • 92 Days on Market
  • MLS # : 3682674
  • Updated Date : 02/13/2021 at 16:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,472 sqft
  • Baths : 1 full
Listing Agent

Links Realty Group Inc

Listing Agent's Description

Rock Bottom Pricing on this Great Investment & Developers Opportunity: This lot boast of 3+ acres less than 3 miles from I-485 off Exit 12 Mount Holly. Home is in need of some repair and is being sold as-is. This is an excellent opportunity to build your dream home with room for adding additional investment properties. Property has city sewer and city water. Level and wooded areas.

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: Wildwood

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Wildwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6661518

* 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
Whitewater Academy Primary Unknown 756 45 NA
Whitewater Middle School Middle Regular 924 53 5
West Mecklenburg High School High Regular 2,040 108 1

Whitewater Academy

  • Education Level: Primary
  • # of students: 756
  • # of teachers: 45
NA
GreatSchools Rating

Whitewater Middle School

  • Education Level: Middle
  • # of students: 924
  • # of teachers: 53
5
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,035$1,265$1,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,150
EXPENSES Loan Payment -$782
Property Tax -$196
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
-$2

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.

$225,000

PROJECTED PRICE

$1,150

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$12,246

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,150

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,317

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,2993$1,2994$1,4255$1,500
$1,500
RENT COMPS ANALYSIS
  • 1201 Kiker Circle Charlotte, NC 1
    • 3 beds 1 baths ∙ 1,472 Sqft ∙ Built 1949 3 beds 1 baths ∙ 1,472 Sqft ∙ Built 1949
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.78
    •  
  • 9005 Sharpes Circle Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,542 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,542 Sqft ∙ Built 2017
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.84
    •  
  • 6420 Pennacook Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,432 Sqft ∙ Built 3 beds 3 baths ∙ 1,432 Sqft ∙ Built
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.91
    •  
  • 9029 Sharpes Circle Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 2017
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.88
    •  
  • 7209 Niccoline Lane Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 2018
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.95
    •  
PROPERTY LISTING DETAILS
Tia Fesperman
1.704.777.0475
Links Realty Group Inc
BESbswy