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15209 Kissimmee Lane Mint Hill, NC 28227

4 Beds 3 Baths 3,138 sqft Built 2015

$390,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $124.28
  • MLS # : CAR3761501
  • Updated Date : 07/13/2021 at 00:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,138 sqft
  • Baths : 2 full , 1 half
Listing Agent

Better Homes And Gardens Real Estate Paracle

Listing Agent's Description

If you are looking for luxury living, look no further! Magnificent, freshly painted inside/out home in the beautiful community of Belle Glade. A rare find in this picturesque setting just outside of Charlotte. This home boasts 4 bedrooms/2.5 baths sitting on over a third of an acre featuring a private fenced in backyard. This amazing layout with spectacular finishes is a must see. Luxury Vinyl Plank floors throughout. Formal dining room adjacent to coffee bar and walk in pantry. The large kitchen provides tons of storage and contains stainless steel luxury appliances. Expansive island & great room offer an ideal setting for entertaining. Master bedroom has sweeping views of the backyard with an attached sitting room/office. The Master bathroom will be your own oasis with dual sink vanity, garden tub & enclosed shower along with a massive custom closet. Three other large bedrooms upstairs each with walk-in closets accompanied by a second floor bonus room allows for an upstairs getaway.

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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: 28227

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $100k291k

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

Zip Code: 28227

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8421713

* 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
Clear Creek Elementary School Primary Regular 647 37 6
Northeast Middle School Middle Regular 739 45 3
Independence High School High Regular 2,349 128 6

Clear Creek Elementary School

  • Education Level: Primary
  • # of students: 647
  • # of teachers: 37
6
GreatSchools Rating

Northeast Middle School

  • Education Level: Middle
  • # of students: 739
  • # of teachers: 45
3
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 2,349
  • # of teachers: 128
6
GreatSchools Rating
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,355
Property Tax -$304
Property Insurance -$86
HOA -$21
Property Management Fees -$119
CASH FLOW
$335

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$390,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
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$25k

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$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$53,038

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
  • $2,040

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,895
$1,895
RENT COMPS ANALYSIS
  • 15209 Kissimmee Lane Mint Hill, NC 1
    • 4 beds 3 baths ∙ 3,138 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,138 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 10612 Ebony Tress Lane Mint Hill, NC 2
    • 4 beds 3 baths ∙ 2,920 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,920 Sqft ∙ Built 2017
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.65
    •  
PROPERTY LISTING DETAILS
Macon Foscue
1.704.916.9161
Better Homes And Gardens Real Estate Paracle
BESbswy