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5525 Dogwood Boulevard Kannapolis, NC 28081

3 Beds 3 Baths 2,876 sqft Built 1988

$400,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $139.08
  • 4 Days on Market
  • MLS # : 3696241
  • Updated Date : 01/09/2021 at 16:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,876 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

**Multiple offers received, please submit highest and best by 5pm on Sunday 1/10/21. ** Classic elegance best describes this full brick home conveniently located near shopping, schools, and I-85, yet secluded on a 1 are lot! The curb appeal of this home is sure to impress. The meticulously maintained exterior features lovely landscaping, a spacious deck and screened porch overlooking the private backyard. The interior features beautiful wood moldings, dual staircases, built ins in the living room, upgraded stainless appliances, energy efficient replacement windows, and new gas logs in the fireplace. The cook in the family will love the spacious kitchen! Truly a rare find, put this one on the must see list! Be sure to check out the 3D walk thru tour and aerial video. Special financing incentives available on this property from Sirva Mortgage.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Country Road

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350kPrice in $71k387k

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

Neighborhood: Country Road

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28001000120014001600180020002200Rent in $6252347

* 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
Charles E. Boger Elementary School Primary Regular 803 49 4
Northwest Cabarrus Middle School Middle Regular 905 58 4
Northwest Cabarrus High School High Regular 1,198 72 3

Charles E. Boger Elementary School

  • Education Level: Primary
  • # of students: 803
  • # of teachers: 49
4
GreatSchools Rating

Northwest Cabarrus Middle School

  • Education Level: Middle
  • # of students: 905
  • # of teachers: 58
4
GreatSchools Rating

Northwest Cabarrus High School

  • Education Level: High
  • # of students: 1,198
  • # of teachers: 72
3
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,389
Property Tax -$372
Property Insurance -$81
Property Management Fees -$119
CASH FLOW
$158

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.

$400,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.7%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$35,288

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,013

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,120
$2,120
RENT COMPS ANALYSIS
  • 5525 Dogwood Boulevard Kannapolis, NC 2
    • 3 beds 3 baths ∙ 2,876 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,876 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $0.74
    •  
  • 1220 Windsor Drive Kannapolis, NC 1
    • 4 beds 2 baths ∙ 2,635 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,635 Sqft ∙ Built 2018
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.70
    •  
PROPERTY LISTING DETAILS
Regina Vance
1.704.361.2292
Coldwell Banker Realty
BESbswy