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PROPERTY INFO
FACTS
- Single Family
- Built In 1957
- Price/Sqft : $103.36
- 2 Days on Market
- MLS # : 3694992
- Updated Date : 01/02/2021 at 14:35
CONSTRUCTION
- Beds : 3
- Floor Size : 1,605 sqft
- Baths : 2 full
Listing Agent
Rocky River Realty Inc.
Listing Agent's Description
THIS COULD BE A GREAT HOME FOR SOMEONE LOOKING TO FIX IT UP AND BRING IT BACK TO LIFE. PLUMBING IS PVC, NEWER DUCT WORK, CADILAC 3 TON TRANE HVAC ONLY 10 YRS OLD, GUTTERS 8 YRS OLD, HOME HAS LIVING RM WITH FIREPLACE THAT HAS NEVER BEEN USED, DEN HAS WOOD BURING F/P. KITCHEN HAS BRK NOOK, LAUNDRY ROOM WITH SINK FOR A MUD ROOM, ORG HARDWOODS IN LIVING RM AND 2BK BDRMS,THIS HAS BEEN A GOOD HOME FOR MY RELATIVES AND HOPE SOMEONE WILL APPRECIATE ALL IT HAS TO OFFER.
SEE MORE
- 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: 28083
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28083
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,400 |
| EXPENSES | Loan Payment | -$612 |
| Property Tax | -$168 | |
| Property Insurance | -$57 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$444
|
||
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.
$165,900
PROJECTED PRICE
$1,400
PROJECTED RENT
0.84%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.94% |
| Appreciation Year (1-5) | 7.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.02% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$49,714
LOAN DETAILS
$612
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $41,475 |
| Loan Amount | $124,425 |
16.17
YEARS SAVED
$51,930
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,400
LIST RENT -
$0.87
LIST RENT PER SQFT
-
$1,489
COMP ESTIMATED VALUE -
$0.93
COMP AVG. RENT PER SQFT
Comps Range
-
2707 Florida Avenue Kannapolis, NC 4
- 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1957
![property image]()
- Rent
- Rent Per SQFT
- $1,400
- $0.87
-
2210 Florida Avenue Kannapolis, NC 1
- 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1947
![property image]()
LEASED 06/15/20- Rent
- Rent Per SQFT
- $1,250
- $0.94
-
200 Little Street Kannapolis, NC 2
- 4 beds 3 baths ∙ 1,660 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,660 Sqft ∙ Built 2019
![property image]()
LEASED 01/27/20- Rent
- Rent Per SQFT
- $1,375
- $0.83
-
110 Ashmont Drive Kannapolis, NC 3
- 3 beds 3 baths ∙ 1,411 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,411 Sqft ∙ Built 2001
![property image]()
LEASED 07/13/20- Rent
- Rent Per SQFT
- $1,395
- $0.99
-
2267 Denwood Street Kannapolis, NC 5
- 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 1975
![property image]()
LEASED 11/26/19- Rent
- Rent Per SQFT
- $2,000
- $1.52
PROPERTY LISTING DETAILS
1.704.564.3772
Rocky River Realty Inc.
