Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Central Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$62,725
LOAN DETAILS
$793
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $53,750 |
| Loan Amount | $161,250 |
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
-
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
1.704.293.2741
Southern Homes Of The Carolinas
