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2232 Pinnacle View Drive Kings Mountain, NC 28086

3 Beds 3 Baths 1,644 sqft Built 2012

$270,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2012
  • Price/Sqft : $164.23
  • 2 Days on Market
  • MLS # : 3680104
  • Updated Date : 11/07/2020 at 10:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,644 sqft
  • Baths : 2 full , 1 half
Listing Agent

Weichert Realtors-pmi Group

Listing Agent's Description

You must see this beautiful, custom home near Crowders Mtn. State Park. Private fenced backyard great for outdoor entertaining and gardening. Zoysia Turf grass surrounds home. 36" interior doors and 9' ceilings on main level. F/R features 23' vaulted ceiling, wood burning stone fireplace, wired surround sound w/F & R speakers in ceiling and wall of windows. Kitchen features gorgeous cherry finished cabinets, granite countertops and induction cooktop. Coretex luxury vinyl plank floors throughout the home. Guest BR's are carpeted. Spacious master suite, master bath has dbl. vanity, garden tub, separate shower and his and her walk-in closets. Walkout basement has 8' dropped ceiling, den and wet bar w/granite countertop, 1/2 ba and lg exercise room. Reinforced premium vinyl siding, Silver Line by Anderson Windows Larson H/D security storm door at front door. 6 mil foundation wrap and French drain installed. 8 minutes to I-85 and 30 min. to Charlotte Douglas Airport.

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

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
Chapel Grove Elementary School Primary Regular 445 27 3
Southwest Middle School Middle Regular 867 47 4
Hunter Huss High School High Regular 1,148 67 3

Chapel Grove Elementary School

  • Education Level: Primary
  • # of students: 445
  • # of teachers: 27
3
GreatSchools Rating

Southwest Middle School

  • Education Level: Middle
  • # of students: 867
  • # of teachers: 47
4
GreatSchools Rating

Hunter Huss High School

  • Education Level: High
  • # of students: 1,148
  • # of teachers: 67
3
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$996
Property Tax -$174
Property Insurance -$58
Property Management Fees -$128
CASH FLOW
$65

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.

$270,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.53%

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$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$18,583

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,619

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,4203$1,950
$1,950
RENT COMPS ANALYSIS
  • 2232 Pinnacle View Drive Kings Mountain, NC 2
    • 3 beds 3 baths ∙ 1,644 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,644 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.86
    •  
  • 2121 Pinnacle View Drive Kings Mountain, NC 1
    • 3 beds 3 baths ∙ 1,407 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,407 Sqft ∙ Built 2019
    property image
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.94
    •  
  • 118 Tibor Drive Kings Mountain, NC 3
    • 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 2007
    property image
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.03
    •  
PROPERTY LISTING DETAILS
Brian Tessener
1.704.692.4063
Weichert Realtors-pmi Group
BESbswy