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156 Little Country Lane Kings Mountain, NC 28086

4 Beds 2 Baths 2,052 sqft Built 2003

$165,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $80.41
  • 5 Days on Market
  • MLS # : 3705164
  • Updated Date : 02/05/2021 at 22:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,052 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Looking for a spacious and quiet place to call home? This is the perfect place for you. Located on a dead end road, this 4 bed/2 bath with large recreational room is neighbored by beautiful woods and cozy scenery. Plenty of room for a large family. Master bedroom has a large bathroom that connects to a walk-in closet. The open concept living and kitchen area allows for easy entertaining with guests. Schedule your showing today to enjoy quite country living.

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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: 28086

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150kPrice in $55k157k

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

Zip Code: 28086

No Data Available.

* 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
Bessemer City Primary School Primary Regular 384 22 NA
Bessemer City Middle School Middle Regular 550 36 5
Bessemer City High School High Regular 646 41 2

Bessemer City Primary School

  • Education Level: Primary
  • # of students: 384
  • # of teachers: 22
NA
GreatSchools Rating

Bessemer City Middle School

  • Education Level: Middle
  • # of students: 550
  • # of teachers: 36
5
GreatSchools Rating

Bessemer City High School

  • Education Level: High
  • # of students: 646
  • # of teachers: 41
2
GreatSchools Rating
 

$148,500$181,500$165,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$573
Property Tax -$103
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$430

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.

$165,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 3.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$49,475

INVESTMENT

$49,475

Down Payment
$41,250
Rehab Estimate
$5,750
Closing Costs
$2,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$573

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $41,250
Loan Amount $123,750
See What Happens When You Reinvest Cash Flow

15.67

YEARS SAVED

$43,419

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $1,334

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,290
1$1,2902$1,300
$1,300
RENT COMPS ANALYSIS
  • 156 Little Country Lane Kings Mountain, NC 1
    • 4 beds 2 baths ∙ 2,052 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,052 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.63
    •  
  • 521 Jackson Street Kings Mountain, NC 2
    • 3 beds 2 baths ∙ 2,083 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,083 Sqft ∙ Built 1999
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.62
    •  
PROPERTY LISTING DETAILS
Michael Lee
1.704.473.5119
Exp Realty Llc
BESbswy