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12123 Kenmare Crossing Road #44 Davidson, NC 28036

3 Beds 3 Baths 2,653 sqft Built 2020

$415,615

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $156.66
  • 4 Days on Market
  • MLS # : 3679699
  • Updated Date : 11/05/2020 at 14:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,653 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nvr Homes, Inc./ryan Homes

Listing Agent's Description

The convenience of one-floor living with the space of a two-story home! Craftsman style home with stone details and side entry garage! Complete with Wifi garage door opener and SMART Nest Thermostats. A light and airy foyer opens to a stunning dining room perfect for welcoming guests into your home. Enjoy working from home with a private study. A gourmet kitchen with a spacious eat-in island and stainless steel appliances that is coupled with a morning room is the perfect space for entertaining. Nestled behind the great room you’ll find your private owner’s suite! Solid surface flooring in main living areas. Upper level includes two bedrooms, bath, and an open loft filling the space with natural light! To be built.

SEE MORE

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

Zip Code: 28036

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $118k377k

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

Zip Code: 28036

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8442024

* 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
Davidson Elementary School Primary Regular 693 37 6
Bailey Middle School Middle Regular 1,616 77 9
William Amos Hough High School High Regular 2,453 120 8

Davidson Elementary School

  • Education Level: Primary
  • # of students: 693
  • # of teachers: 37
6
GreatSchools Rating

Bailey Middle School

  • Education Level: Middle
  • # of students: 1,616
  • # of teachers: 77
9
GreatSchools Rating

William Amos Hough High School

  • Education Level: High
  • # of students: 2,453
  • # of teachers: 120
8
GreatSchools Rating
 

$374,054$457,177$415,615

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$1,533
Property Tax -$343
Property Insurance -$77
Property Management Fees -$219
CASH FLOW
$258

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$415,615

PROJECTED PRICE

$2,430

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 3.00%
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$0.0$5.0k$10k$15k$20k

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$112,138

INVESTMENT

$112,138

Down Payment
$103,904
Rehab Estimate
$2,000
Closing Costs
$6,234

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,533

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,904
Loan Amount $311,711
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$58,268

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,487

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$1,9953$2,4304$2,4505$2,850
$2,850
RENT COMPS ANALYSIS
  • 12123 Kenmare Crossing Road Davidson, NC 3
    • 3 beds 3 baths ∙ 2,653 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,653 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $0.92
    •  
  • 17227 Shearer Road Davidson, NC 1
    • 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 2019
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.86
    •  
  • 17235 Shearer Road Davidson, NC 2
    • 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 2019
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.86
    •  
  • 17310 Gladys Way Davidson, NC 4
    • 4 beds 3 baths ∙ 2,530 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,530 Sqft ∙ Built 2020
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.97
    •  
  • 17535 Shearer Road Davidson, NC 5
    • 4 beds 4 baths ∙ 2,698 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,698 Sqft ∙ Built 2019
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.06
    •  
PROPERTY LISTING DETAILS
Jerry Smith
1.704.610.5282
Nvr Homes, Inc./ryan Homes
BESbswy