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2028 Kennesaw Drive Charlotte, NC 28216

4 Beds 2 Baths 1,312 sqft Built 2003

$274,900

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $209.53
  • 3 Days on Market
  • MLS # : 3703409
  • Updated Date : 01/29/2021 at 20:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,312 sqft
  • Baths : 2 full
Listing Agent

Keller Williams South Park

Listing Agent's Description

Move in ready and recently updated 4 BR 2 Bath home just outside of Uptown and directly across from Lincoln Heights park! Updates include brand new Kitchen including new shaker cabinets, black leathered granite, oversized SS sink, LVP flooring and new SS appliances! Plus new HVAC, new bath vanities with double sinks in master, quartz countertops, new flooring and fixtures. Other updates include new carpet, new paint throughout, new lighting and plumbing fixtues. Future light rail stop planned on Lynx Gold line only a few blocks away! Built in 2003 with a large backyard, this home will go quick!

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: Lincoln Heights

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $48k235k

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

Neighborhood: Lincoln Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2600700800900100011001200130014001500Rent in $5981518

* 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
Ranson Middle School Middle Regular 1,138 57 3
West Charlotte High School High Regular 1,777 109 3
Ranson Middle School Middle Unknown NA

Ranson Middle School

  • Education Level: Middle
  • # of students: 1,138
  • # of teachers: 57
3
GreatSchools Rating

West Charlotte High School

  • Education Level: High
  • # of students: 1,777
  • # of teachers: 109
3
GreatSchools Rating

Ranson Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$955
Property Tax -$240
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$105

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.

$274,900

PROJECTED PRICE

$1,260

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$7,815

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,204

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,1503$1,2004$1,2605$1,350
$1,350
RENT COMPS ANALYSIS
  • 2028 Kennesaw Drive Charlotte, NC 4
    • 4 beds 2 baths ∙ 1,312 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,312 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.96
    •  
  • 2908 Bellaire Drive Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,290 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,290 Sqft ∙ Built 1957
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.85
    •  
  • 1922 Erie Street Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,195 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,195 Sqft ∙ Built 1990
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.96
    •  
  • 2609 Montreat Street Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1951
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.00
    •  
  • 1425 Moretz Avenue Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 1950
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.83
    •  
PROPERTY LISTING DETAILS
Rory Cummins
1.704.622.4865
Keller Williams South Park
BESbswy