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1985 Quill Court Kannapolis, NC 28083

3 Beds 3 Baths 1,760 sqft Built 2015

$245,900

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $139.72
  • 5 Days on Market
  • MLS # : 3717961
  • Updated Date : 03/27/2021 at 14:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,760 sqft
  • Baths : 2 full , 1 half
Listing Agent

Premier Realty Nc

Listing Agent's Description

CALLING FOR HIGHEST AND BEST BY SATURDAY 3/27 @ 6:00. Thank you!! Looking for a home in great condition and hardly lived in? This two story home offers open floorplan on main with Formal dinning( currently being used as living room though can be used as a office, open kitchen with island along with large great room area and main level laundry room and half bath. Upper level features master bedroom w/bath and two additional bedrooms and one bath. This home is a must see for the price so won't last long check it out today! *Professional photos and measuring being done.

SEE MORE

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

Neighborhood: Mallard Pointe Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $71k213k

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

Neighborhood: Mallard Pointe Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400Rent in $6251468

* 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
Forest Park Elementary School Primary Regular 606 40 5
Al. Brown High School High Regular 1,475 100 2

Forest Park Elementary School

  • Education Level: Primary
  • # of students: 606
  • # of teachers: 40
5
GreatSchools Rating

Al. Brown High School

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

$221,310$270,490$245,900

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$854
Property Tax -$236
Property Insurance -$60
HOA -$15
Property Management Fees -$119
CASH FLOW
$156

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.

$245,900

PROJECTED PRICE

$1,440

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.1%
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$200k$400k$600k$800k$1.0M

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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,914

INVESTMENT

$70,914

Down Payment
$61,475
Rehab Estimate
$5,750
Closing Costs
$3,689

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$854

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,475
Loan Amount $184,425
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$26,912

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,443

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3753$1,4404$1,4955$1,695
$1,695
RENT COMPS ANALYSIS
  • 1985 Quill Court Kannapolis, NC 3
    • 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.82
    •  
  • 858 Anchor Way Kannapolis, NC 1
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2002
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.78
    •  
  • 243 Summit Park Court Kannapolis, NC 2
    • 3 beds 2 baths ∙ 1,617 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,617 Sqft ∙ Built 2005
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.85
    •  
  • 1990 Quill Court Kannapolis, NC 4
    • 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 2016
    property image
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.77
    •  
  • 886 Anchor Way Kannapolis, NC 5
    • 4 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003
    property image
    LEASED 03/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.88
    •  
PROPERTY LISTING DETAILS
Diana Brandon
1.336.287.7558
Premier Realty Nc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3717961
Last Updated: 03/27/2021
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