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2716 Ireton Place Kannapolis, NC 28083

4 Beds 3 Baths 1,969 sqft Built 2006

$244,900

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $124.38
  • 3 Days on Market
  • MLS # : 3686988
  • Updated Date : 11/27/2020 at 20:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,969 sqft
  • Baths : 2 full , 1 half
Listing Agent

Better Homes And Gardens Real Estate Paracle

Listing Agent's Description

Immaculate, move-in ready 2 story home located on cute cul-de-sac lot in desirable Kannapolis! This home needs nothing! New laminate floors throughout main level, new carpet upstairs in 2019, recent interior paint. Kitchen boasts new granite countertops and appliances (including double oven that's also convection). Refrigerator remains! Master suite on main level! Beautiful landscaping and fenced yard! Sellers are offering 1 year warranty! HVAC replaced in 2011 and has been serviced twice annually since new. This home is stunning and won't last long!

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: Brantley Woods

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $71k213k

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

Neighborhood: Brantley Woods

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300Rent in $6251375

* 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
Royal Oaks Elementary School Primary Regular 320 20 2
Concord Middle School Middle Regular 922 62 2
Concord High School High Regular 1,252 79 3

Royal Oaks Elementary School

  • Education Level: Primary
  • # of students: 320
  • # of teachers: 20
2
GreatSchools Rating

Concord Middle School

  • Education Level: Middle
  • # of students: 922
  • # of teachers: 62
2
GreatSchools Rating

Concord High School

  • Education Level: High
  • # of students: 1,252
  • # of teachers: 79
3
GreatSchools Rating
 

$220,410$269,390$244,900

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$904
Property Tax -$208
Property Insurance -$64
Property Management Fees -$125
CASH FLOW
$89

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.

$244,900

PROJECTED PRICE

$1,390

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,649

INVESTMENT

$70,649

Down Payment
$61,225
Rehab Estimate
$5,750
Closing Costs
$3,674

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,225
Loan Amount $183,675
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$20,591

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,462

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2953$1,3904$1,4955$1,550
$1,550
RENT COMPS ANALYSIS
  • 2716 Ireton Place Kannapolis, NC 3
    • 4 beds 3 baths ∙ 1,969 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,969 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.71
    •  
  • 2964 Lane Street Kannapolis, NC 1
    • 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 1955
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.69
    •  
  • 858 Anchor Way Kannapolis, NC 2
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2002
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.78
    •  
  • 1990 Quill Court Kannapolis, NC 4
    • 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 2016
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.77
    •  
  • 1783 Mission Oaks Street Kannapolis, NC 5
    • 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 2006
    LEASED 06/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.73
    •  
PROPERTY LISTING DETAILS
Perry Butler
1.704.560.4533
Better Homes And Gardens Real Estate Paracle
BESbswy