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2018 Kemp Road Indian Trail, NC 28079

4 Beds 3 Baths 2,938 sqft Built 2018

$385,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $131.04
  • 10 Days on Market
  • MLS # : 3685280
  • Updated Date : 11/27/2020 at 09:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,938 sqft
  • Baths : 2 full , 1 half
Listing Agent

1st Choice Properties, Inc.

Listing Agent's Description

WOW! First Time Offered. Beautiful immaculate quality craftsmanship & attention to detail abound in this nearly new two year old home. Covered rocking chair front porch welcomes you into this beautiful home. Entrance hall with moldings & powder room. Family room with fireplace & windows overlooking the fenced backyard. Gourmet kitchen with all the goodies including S/S appliances, granite, tall beautiful cabinets, Island, wall oven, pantry. Breakfast dining area has a slider onto the oversized patio for outdoor entertainment. A large Butlers Pantry leads into the formal dining room with moldings. A drop zone coming in from garage with built-ins...Upper level welcomes you into the large loft with a closet. Master bedroom with a tiled luxury bath including a double vanity, tiled & glass large shower, soaking tub, private toilet, large walk-in closet. Three additional guest bedrooms & a large hall full bath. Laundry room. This beautiful home has many upgrades, a truly move-in ready home.

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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: 28079

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Zip Code: 28079

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Sardis Elementary School Primary Regular 592 45 8
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Sardis Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 45
8
GreatSchools Rating

Porter Ridge Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 72
7
GreatSchools Rating

Porter Ridge High School

  • Education Level: High
  • # of students: 1,591
  • # of teachers: 77
7
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,420
Property Tax -$251
Property Insurance -$82
HOA -$66
Property Management Fees -$174
CASH FLOW
-$64

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.

$385,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.3%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$17,558

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,946

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9253$1,9274$1,9305$2,000
$2,000
RENT COMPS ANALYSIS
  • 2018 Kemp Road Indian Trail, NC 4
    • 4 beds 3 baths ∙ 2,938 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,938 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.66
    •  
  • 3607 Alden Street Indian Trail, NC 1
    • 4 beds 3 baths ∙ 2,697 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,697 Sqft ∙ Built 1992
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.69
    •  
  • 2002 Seabiscuit Drive Indian Trail, NC 2
    • 4 beds 3 baths ∙ 3,006 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,006 Sqft ∙ Built 2003
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.64
    •  
  • 3604 Alden Street Indian Trail, NC 3
    • 4 beds 3 baths ∙ 2,912 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,912 Sqft ∙ Built 1996
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,927
    • $0.66
    •  
  • 1007 Emerson Lane Indian Trail, NC 5
    • 5 beds 3 baths ∙ 3,029 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,029 Sqft ∙ Built 2007
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.66
    •  
PROPERTY LISTING DETAILS
Steven White
1.704.242.1485
1st Choice Properties, Inc.
BESbswy