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4858 Hawfield Street Kannapolis, NC 28083

3 Beds 3 Baths 1,660 sqft Built 2004

$215,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $129.52
  • 3 Days on Market
  • MLS # : 3675216
  • Updated Date : 11/13/2020 at 21:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,660 sqft
  • Baths : 2 full , 1 half
Listing Agent

Southern Homes Of The Carolinas

Listing Agent's Description

Rare find- Charming home with a water view in Kannapolis! Wow, this one is a MUST SEE! This home welcomes you with beautiful updated flooring in the spacious light filled family room that features a fireplace. Large eat in kitchen with tile floors, stainless appliances, lots of counter space, large cabinets and tile backsplash. Upstairs you will find the relaxing owners suite with updated flooring and owners bath with dual sinks, walk in shower and soaking tub. Spacious secondary rooms. Backyard is perfect for entertaining! De-stress with the large hot tub on your back patio or enjoy the fire pit! Functional shed that has been used as a gathering bar would be perfect for enjoying your morning coffee or glass of wine. Backyard also has a chicken coop! So many options in this yard and do not forget the amazing view of the WATER from your backyard!! Great location- easy access to 85

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: Central Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $71k213k

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

Neighborhood: Central Park

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
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$793
Property Tax -$183
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$167

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.

$215,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.61%

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

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$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$27,741

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,419

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3203$1,3304$1,3505$1,395
$1,395
RENT COMPS ANALYSIS
  • 4858 Hawfield Street Kannapolis, NC 2
    • 3 beds 3 baths ∙ 1,660 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,660 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.80
    •  
  • 858 Anchor Way Kannapolis, NC 1
    • 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
    •  
  • 4861 Samuel Richard Street Kannapolis, NC 3
    • 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 4
    • 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
Brigitte Perry
1.704.293.2741
Southern Homes Of The Carolinas
BESbswy