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1300 Bethpage Road Kannapolis, NC 28081

3 Beds 2 Baths 1,307 sqft Built 2015

$240,000

List Price

$1,170

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $183.63
  • -1 Days on Market
  • MLS # : CAR3760798
  • Updated Date : 07/12/2021 at 12:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,307 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Mooresville

Listing Agent's Description

Coming soon 7/16!!! Come see this beautiful 3 bed 2 bath home located minutes from downtown Kannapolis and the Kannapolis Cannonballers! This well maintained home was built in 2015 and features an open floor plan with cathedral ceiling, granite counter tops, and soft close cabinets and drawers. Home comes with all kitchen appliances as well as washer and dryer if desired. The concrete patio highlights the spacious back yard and is ready for all your entertaining and cook outs! DO. NOT. WAIT. This home will not last long!!!

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: 28081

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $71k213k

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

Zip Code: 28081

ZipNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300Rent in $6251375

* 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
Fred L Wilson Elementary School Primary Regular 399 29 3
Al. Brown High School High Regular 1,475 100 2

Fred L Wilson Elementary School

  • Education Level: Primary
  • # of students: 399
  • # of teachers: 29
3
GreatSchools Rating

Al. Brown High School

  • Education Level: High
  • # of students: 1,475
  • # of teachers: 100
2
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$834
Property Tax -$204
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$38

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.

$240,000

PROJECTED PRICE

$1,170

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.7%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$10,439

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
  • $1,124

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,0953$1,2004$1,2505$1,395
$1,395
RENT COMPS ANALYSIS
  • 1300 Bethpage Road Kannapolis, NC 1
    • 3 beds 2 baths ∙ 1,307 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,307 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 709 Margate Avenue Kannapolis, NC 2
    • 3 beds 1 baths ∙ 1,250 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,250 Sqft ∙ Built 1948
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.88
    •  
  • 1233 Bethpage Road Kannapolis, NC 3
    • 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2001
    property image
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.81
    •  
  • 1005 Rainbow Drive Kannapolis, NC 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1946 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1946
    property image
    LEASED 07/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.83
    •  
  • 916 Victoria Avenue Kannapolis, NC 5
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 3 beds 2 baths ∙ 1,560 Sqft ∙ Built
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.89
    •  
PROPERTY LISTING DETAILS
Evan Massey
1.704.402.3917
Keller Williams Mooresville
BESbswy