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15841 Kelly Park Circle Huntersville, NC 28078

4 Beds 3 Baths 2,426 sqft Built 2001

$368,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $151.69
  • 22 Days on Market
  • MLS # : 3697262
  • Updated Date : 01/27/2021 at 16:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,426 sqft
  • Baths : 2 full , 1 half
Listing Agent

Wilkinson Era Real Estate

Listing Agent's Description

Pride of ownership shows in this home located in the vibrant desirable community of Birkdale. This Saussy Burbank home features hardwood floors and tile. Two fireplaces one in the great room and one in master bedroom. Wainscoting in many rooms (office, bonus room/4th bedroom, half bath), and a drop zone area off garage door and front entry. Updated light fixtures throughout, newer ceiling fans, tile back splash in the kitchen and fireplace, and newer stainless steel appliances. The outdoor living space includes a covered front porch and the rear of the home has screened porch that looks out on the beautifully landscaped, private fenced backyard for your enjoyment year round! Newer roof and HVAC! convenient location to I-77. Very close to Lake Norman's Blythe Landing for lake access and Birkdale Village for shopping. Enjoy all Birkdale amenities including pool, tennis courts, volleyball, two playgrounds. Goff course memberships available

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Birkdale

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $118k429k

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

Neighborhood: Birkdale

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900200021002200Rent in $8442208

* 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
Grand Oak Elementary School Primary Unknown 601 36 NA
Francis Bradley Middle School Middle Regular 1,140 59 6
Hopewell High School High Regular 1,653 87 3

Grand Oak Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 36
NA
GreatSchools Rating

Francis Bradley Middle School

  • Education Level: Middle
  • # of students: 1,140
  • # of teachers: 59
6
GreatSchools Rating

Hopewell High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 87
3
GreatSchools Rating
 

$331,200$404,800$368,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,278
Property Tax -$351
Property Insurance -$73
HOA -$67
Property Management Fees -$119
CASH FLOW
$92

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.

$368,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.1%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,270

INVESTMENT

$103,270

Down Payment
$92,000
Rehab Estimate
$5,750
Closing Costs
$5,520

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,278

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,000
Loan Amount $276,000
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$29,570

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,111

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,980
1$1,9802$2,0003$2,1504$2,1755$2,200
$2,200
RENT COMPS ANALYSIS
  • 15841 Kelly Park Circle Huntersville, NC 1
    • 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.82
    •  
  • 8519 Brentfield Road Huntersville, NC 2
    • 4 beds 3 baths ∙ 2,396 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,396 Sqft ∙ Built 1997
    LEASED 09/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.83
    •  
  • 16433 Breckshire Drive Huntersville, NC 3
    • 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 1985
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.89
    •  
  • 15629 Gathering Oaks Drive Huntersville, NC 4
    • 4 beds 3 baths ∙ 2,544 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,544 Sqft ∙ Built 1998
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.85
    •  
  • 16565 Kimbolten Drive Huntersville, NC 5
    • 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 1985
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.91
    •  
PROPERTY LISTING DETAILS
Lenora Bennett
1.704.724.7888
Wilkinson Era Real Estate
BESbswy