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PROPERTY INFO
FACTS
- Single Family
- Built In 2021
- Price/Sqft : $156.10
- 2 Days on Market
- MLS # : CAR3757771
- Updated Date : 07/12/2021 at 19:44
CONSTRUCTION
- Beds : 5
- Floor Size : 2,745 sqft
- Baths : 3 full
Listing Agent
Meritage Homes Of The Carolina
Listing Agent's Description
Brand NEW energy-efficient home ready September 2021! Chastain plan's charming back patio, versatile flex spaces, and impressive primary suite that boasts dual sinks and walk-in closet. Linen cabinets, white/grey granite countertops, brown/grey EVP flooring and multi-tone carpet in our Elemental package. Kellswater Bridge is a community like no other, with timeless southern architecture and unparalleled amenities including residents club with resort-style lagoon/lap pool featuring a slide and more, tennis courts, basketball and volleyball courts, covered picnic area, playground and many landscaped common areas. Known for their energy saving features, our homes help you live a healthier and quieter lifestyle, while saving you thousands of dollars on utility bills.
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Zip Code: 28081
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28081
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,830 |
| EXPENSES | Loan Payment | -$1,488 |
| Property Tax | -$364 | |
| Property Insurance | -$79 | |
| HOA | -$154 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$626
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.
$428,490
PROJECTED PRICE
$2,830
PROJECTED RENT
0.66%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.94% |
| Appreciation Year (1-5) | 5.7% |
| Maintenance Year (1-5) | 3.00% |
| 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
$115,550
LOAN DETAILS
$1,488
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $107,123 |
| Loan Amount | $321,368 |
12.67
YEARS SAVED
$89,678
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,830
LIST RENT -
$1.03
LIST RENT PER SQFT
-
$2,718
COMP ESTIMATED VALUE -
$0.99
COMP AVG. RENT PER SQFT
Comps Range
-
3708 Glenview Avenue Kannapolis, NC 2
- 5 beds 3 baths ∙ 2,745 Sqft ∙ Built 2021 5 beds 3 baths ∙ 2,745 Sqft ∙ Built 2021
- Rent
- Rent Per SQFT
- $2,830
- $1.03
-
4867 Durneigh Drive Kannapolis, NC 1
- 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 2021
LEASED 06/07/21- Rent
- Rent Per SQFT
- $2,500
- $0.99
PROPERTY LISTING DETAILS
1.704.969.0153
Meritage Homes Of The Carolina
