Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

198 Caffee Drive Kings Mountain, NC 28086

3 Beds 3 Baths 1,679 sqft Built 2021

$246,900

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $147.05
  • 6 Days on Market
  • MLS # : No MLS Number
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,679 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tobin

Listing Agent's Description

This beautiful home is loaded with desirable upgrades! The chef-ready kitchen boasts granite countertops, Whirlpool® appliances, modern white cabinetry with crown molding, recessed lighting and even USB-compatible outlets! Easy-maintenance and gorgeous vinyl wood plank flooring adds to the elegance of the home. The incredible master suite boasts a spacious bedroom with high, vaulted ceiling, large private bath and an expansive walk-in closet!

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

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
Kings Mountain Intermediate School Primary Regular 590 35 7
Kings Mountain Intermediate School Middle Regular 590 35 7
Kings Mountain High School High Regular 1,272 86 7

Kings Mountain Intermediate School

  • Education Level: Primary
  • # of students: 590
  • # of teachers: 35
7
GreatSchools Rating

Kings Mountain Intermediate School

  • Education Level: Middle
  • # of students: 590
  • # of teachers: 35
7
GreatSchools Rating

Kings Mountain High School

  • Education Level: High
  • # of students: 1,272
  • # of teachers: 86
7
GreatSchools Rating
 

$222,210$271,590$246,900

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$858
Property Tax -$288
Property Insurance -$58
HOA -$25
Property Management Fees -$119
CASH FLOW
$202

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.

$246,900

PROJECTED PRICE

$1,550

PROJECTED RENT

0.63%

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) 3.00%
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$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$67,429

INVESTMENT

$67,429

Down Payment
$61,725
Rehab Estimate
$2,000
Closing Costs
$3,704

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$858

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,725
Loan Amount $185,175
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$32,655

INTEREST SAVED

CASH FLOW REINVESTMENT

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

Solutions Manager

YOUR SOLUTIONS MANAGER

Please Contact Your Solutions Manager

To review the detailed price and rent comps for this property and answer any questions you may have.

PROPERTY LISTING DETAILS
Mynd
Tobin
BESbswy