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382 Caffee Drive Kings Mountain, NC 28086

4 Beds 3 Baths 2,201 sqft Built 2021

$273,900

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $124.44
  • 6 Days on Market
  • MLS # : No MLS Number
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,201 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tobin

Listing Agent's Description

A sprawling living room with gorgeous natural light and luxury vinyl plank flooring welcomes you into this gorgeous home. The stunning kitchen in this home includes beautiful finishes, such as granite countertops and white cabinetry with crown molding. Additionally, a complete suite of Whirlpool® appliances, including the refrigerator, are included. In the master suite, you will find a huge bedroom with vaulted ceiling, beautiful attached bath and a spacious walk-in closet.

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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

Zip Code: 28086

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150kPrice in $55k157k

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

Zip Code: 28086

No Data Available.

* 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
Kings Mountain Intermediate School Primary Regular 590 35 7
Kings Mountain Intermediate School Middle Regular 590 35 7
Kings Mountain High School High Regular 1,272 86 7

Kings Mountain Intermediate School

  • Education Level: Primary
  • # of students: 590
  • # of teachers: 35
7
GreatSchools Rating

Kings Mountain Intermediate School

  • Education Level: Middle
  • # of students: 590
  • # of teachers: 35
7
GreatSchools Rating

Kings Mountain High School

  • Education Level: High
  • # of students: 1,272
  • # of teachers: 86
7
GreatSchools Rating
 

$246,510$301,290$273,900

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$951
Property Tax -$388
Property Insurance -$68
HOA -$25
Property Management Fees -$119
CASH FLOW
$249

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.

$273,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 3.4%
Maintenance Year (1-5) 3.00%
Vacancy 6.00%
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$14k$16k

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$74,584

INVESTMENT

$74,584

Down Payment
$68,475
Rehab Estimate
$2,000
Closing Costs
$4,109

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$951

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,475
Loan Amount $205,425
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$38,041

INTEREST SAVED

CASH FLOW REINVESTMENT

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

Solutions Manager

YOUR SOLUTIONS MANAGER

Please Contact Your Solutions Manager

To review the detailed price and rent comps for this property and answer any questions you may have.

PROPERTY LISTING DETAILS
Mynd
Tobin
BESbswy