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12215 Kenmare Crossing Road #39 Davidson, NC 28036

4 Beds 3 Baths 2,454 sqft Built 2020

$398,115

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $162.23
  • 4 Days on Market
  • MLS # : 3679702
  • Updated Date : 11/05/2020 at 11:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,454 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nvr Homes, Inc./ryan Homes

Listing Agent's Description

You’ll fall in love with the full front porch before you even step inside! With lots of customization options, we let you decide what layout options work best for you and your family. Need a home office or formal dining room? We’ve got you covered! Open-concept layout flowing seamlessly between the family room and gourmet kitchen perfect for entertaining your guests. Upper level contains your choice of four bedrooms or three bedrooms with a loft. Owner’s suite is complete with his and her closets, Roman shower and private water closet. Community is close to Birkdale Village and sought after schools! 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
 

$358,304$437,927$398,115

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,469
Property Tax -$328
Property Insurance -$73
Property Management Fees -$209
CASH FLOW
$241

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.

$398,115

PROJECTED PRICE

$2,320

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$107,500

INVESTMENT

$107,500

Down Payment
$99,529
Rehab Estimate
$2,000
Closing Costs
$5,972

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,469

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,529
Loan Amount $298,586
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$54,743

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,313

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1953$2,2954$2,3205$2,450
$2,450
RENT COMPS ANALYSIS
  • 12215 Kenmare Crossing Road Davidson, NC 4
    • 4 beds 3 baths ∙ 2,454 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,454 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $0.95
    •  
  • 17235 Shearer Road Davidson, NC 1
    • 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 2019
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.86
    •  
  • 17220 Shearer Road Davidson, NC 2
    • 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 2019
    property image
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.95
    •  
  • 17227 Shearer Road Davidson, NC 3
    • 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 2019
    property image
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.99
    •  
  • 17310 Gladys Way Davidson, NC 5
    • 4 beds 3 baths ∙ 2,530 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,530 Sqft ∙ Built 2020
    property image
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.97
    •  
PROPERTY LISTING DETAILS
Jerry Smith
1.704.610.5282
Nvr Homes, Inc./ryan Homes
BESbswy