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3310 Kennys Street Pineville, NC 28134

4 Beds 3 Baths 2,958 sqft Built 2012

$474,900

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $160.55
  • 28 Days on Market
  • MLS # : 3686160
  • Updated Date : 12/13/2020 at 19:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,958 sqft
  • Baths : 3 full
Listing Agent

Devine Realty

Listing Agent's Description

Original, John Wieland home built in the charming neighborhood of McCullough. Full of upgrades! Enjoy the covered front porch with double front doors. Custom trim in foyer, dining room; coffered ceilings & wood beam in living room w/ built-ins flanking the gas fireplace. More wood trim along the stairway. Engineered hardwood floors & Plantation Shutters in front rooms. Kitchen has custom island, trim & lighting w/ Granite counters, SS appliances, & large cabinets. Custom Butler’s pantry w/ Quartz countertop & ledger-stone backsplash. Covered rear porch w/ metal roof & stamped concrete patio has stone wall seating. Professionally landscaped & fenced rear yard with lighting in front and back. Downstairs bedroom can double as a study & has custom carriage doors. 3 additional bedrooms up with custom trim, laundry & a large bonus room over the garage as a second living space or playroom. Front & side yards are maintained by the HOA, Community Clubhouse, walking paths, pools & tennis courts.

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: Pineville

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $108k251k

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

Neighborhood: Pineville

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8421652

* 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
Pineville Elementary School Primary Regular 811 45 7
Quail Hollow Middle School Middle Regular 946 51 3
South Mecklenburg High School High Regular 2,913 147 7

Pineville Elementary School

  • Education Level: Primary
  • # of students: 811
  • # of teachers: 45
7
GreatSchools Rating

Quail Hollow Middle School

  • Education Level: Middle
  • # of students: 946
  • # of teachers: 51
3
GreatSchools Rating

South Mecklenburg High School

  • Education Level: High
  • # of students: 2,913
  • # of teachers: 147
7
GreatSchools Rating
 

$427,410$522,390$474,900

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,752
Property Tax -$392
Property Insurance -$83
HOA -$154
Property Management Fees -$119
CASH FLOW
-$151

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$474,900

PROJECTED PRICE

$2,350

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 9.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,599

INVESTMENT

$131,599

Down Payment
$118,725
Rehab Estimate
$5,750
Closing Costs
$7,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,752

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,725
Loan Amount $356,175
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$16,442

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,475

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,135
1$2,1352$2,1983$2,3504$2,395
$2,395
RENT COMPS ANALYSIS
  • 3310 Kennys Street Pineville, NC 3
    • 4 beds 3 baths ∙ 2,958 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,958 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.79
    •  
  • 4423 Huntley Glen Drive Pineville, NC 1
    • 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 4 beds 3 baths ∙ 2,628 Sqft ∙ Built
    LEASED 09/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,135
    • $0.81
    •  
  • 717 Balboa Court Fort Mill, SC 2
    • 4 beds 3 baths ∙ 2,638 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,638 Sqft ∙ Built 2013
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,198
    • $0.83
    •  
  • 3347 Norwich Road Fort Mill, SC 4
    • 5 beds 3 baths ∙ 2,745 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,745 Sqft ∙ Built 2006
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.87
    •  
PROPERTY LISTING DETAILS
Chuck Denny
1.980.721.2663
Devine Realty
BESbswy