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

2027 Redwood Circle Kings Mountain, NC 28086

3 Beds 2 Baths 1,188 sqft Built 1974

$165,000

List Price

$930

$837 - $1K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $138.89
  • 2 Days on Market
  • MLS # : 3682484
  • Updated Date : 11/14/2020 at 15:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,188 sqft
  • Baths : 2 full
Listing Agent

Essence & Company Realty, Llc

Listing Agent's Description

Beautifully renovated and move-in ready, this would be the perfect place to call home. Situated in a quiet neighborhood conveniently located near Uptown Charlotte, major highways, and various amenities, this property features three spacious bedrooms, 2 wonderfully renovated full baths, a large and bright kitchen with space for dining, a bonus room addition, a huge fireplace with television mount, an immense backyard for entertaining, a covered front porch with a swing, massive carport for parking, level front yard, and no HOA!

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
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

$837$1,023$930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $930
EXPENSES Loan Payment -$609
Property Tax -$123
Property Insurance -$49
Property Management Fees -$84
CASH FLOW
$66

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

$930

PROJECTED RENT

0.56%

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

PROJECTED ANNUAL CASH FLOW

11530-$1.0k$0.0$1.0k$2.0k$3.0k$4.0k$5.0k$6.0k$7.0k

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

$609

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $41,250
Loan Amount $123,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$12,813

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $930

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $737

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$895
1$8952$930
$930
RENT COMPS ANALYSIS
  • 2027 Redwood Circle Kings Mountain, NC 2
    • 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $930
    • $0.78
    •  
  • 808 W Highway 161 Highway Bessemer City, NC 1
    • 3 beds 1 baths ∙ 1,452 Sqft ∙ Built 1930 3 beds 1 baths ∙ 1,452 Sqft ∙ Built 1930
    property image
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $895
    • $0.62
    •  
PROPERTY LISTING DETAILS
Essence Camerino
1.704.451.1150
Essence & Company Realty, Llc
BESbswy