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3232 Camp Julia Road Kannapolis, NC 28083

3 Beds 2 Baths 1,551 sqft Built 2018

$240,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $154.74
  • 6 Days on Market
  • MLS # : 3689462
  • Updated Date : 12/11/2020 at 12:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,551 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Fort Mill

Listing Agent's Description

Don't miss your chance to live close to the revitalized downtown Kannapolis and Cannon Ballers Stadium! This meticulously maintained 2018 home offers easy access to I85 making your commute to Charlotte, Concord, or Salisbury a breeze. Be sure to check out the gorgeous finishes- granite countertops, soft close cabinets, large kitchen sink, and vinyl plank flooring throughout. Master offers large walk in closet and double vanity. Desirable layout The 2 car garage comfortably fits 2 mid sized SUVs. The outdoor shed was stick built by owner in 2020 to match the home. Please note the grass is currently dormant as it is Bermuda grass (drought tolerant and green from March to October). Ring doorbell/security camera do not convey. If all of the parking spots in the driveway are taken please park on Patterson and walk (Please do not park in the grass)

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: Centergrove

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $71k213k

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

Neighborhood: Centergrove

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
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$886
Property Tax -$219
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$80

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.

$240,000

PROJECTED PRICE

$1,360

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$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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$23,823

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,369

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3303$1,3504$1,3605$1,395
$1,395
RENT COMPS ANALYSIS
  • 3232 Camp Julia Road Kannapolis, NC 4
    • 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.88
    •  
  • 210 Forest Pond Road Kannapolis, NC 1
    • 3 beds 3 baths ∙ 1,460 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,460 Sqft ∙ Built 1995
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.89
    •  
  • 4861 Samuel Richard Street Kannapolis, NC 2
    • 3 beds 3 baths ∙ 1,604 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,604 Sqft ∙ Built 2005
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.83
    •  
  • 2596 Captains Watch Road Kannapolis, NC 3
    • 3 beds 3 baths ∙ 1,496 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,496 Sqft ∙ Built 2006
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.90
    •  
  • 2828 Ireton Place Kannapolis, NC 5
    • 3 beds 3 baths ∙ 1,528 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,528 Sqft ∙ Built 2003
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.91
    •  
PROPERTY LISTING DETAILS
Tony Swainey
1.803.810.5267
Keller Williams Fort Mill
BESbswy