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6333 Kennard Drive Charlotte, NC 28216

3 Beds 3 Baths 2,266 sqft Built 2008

$379,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $167.26
  • 6 Days on Market
  • MLS # : 3705447
  • Updated Date : 02/18/2021 at 12:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,266 sqft
  • Baths : 2 full , 1 half
Listing Agent

Thomas Property Group, Inc.

Listing Agent's Description

Beautiful Brick Home located on Corner Lot in rare Gated Community in Northwest Charlotte. Enjoy your evenings & weekends relaxing on your Wrap Around Porch, walking the community trail, or taking the dogs to the dog park. Inside you will find Granite Counter Tops, a Kitchen Island, Butlers Pantry, and SS appliances...Refrigerator & Double Oven. Open concept Living Area with Built-In's and French Doors leading to outdoor area. Private Master suite boasts a Garden Tub & Walk-In Shower. Jack & Jill bath connect two spacious Guest Bedrooms. Lawn care provided by HOA. Brookline subdivision is conveniently located off both I-77 and I-485, near the Northlake mall and Restaurants.

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: Northlake

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $107k318k

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

Neighborhood: Northlake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Hornets Nest Elementary School Primary Regular 587 34 3
Ranson Middle School Middle Regular 1,138 57 3
Hopewell High School High Regular 1,653 87 3

Hornets Nest Elementary School

  • Education Level: Primary
  • # of students: 587
  • # of teachers: 34
3
GreatSchools Rating

Ranson Middle School

  • Education Level: Middle
  • # of students: 1,138
  • # of teachers: 57
3
GreatSchools Rating

Hopewell High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 87
3
GreatSchools Rating
 

$341,100$416,900$379,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,316
Property Tax -$330
Property Insurance -$70
HOA -$130
Property Management Fees -$119
CASH FLOW
-$96

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.

$379,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
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-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,185

INVESTMENT

$106,185

Down Payment
$94,750
Rehab Estimate
$5,750
Closing Costs
$5,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,316

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,750
Loan Amount $284,250
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$14,335

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,688

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,339
1$1,3392$1,5503$1,5754$1,6005$1,870
$1,870
RENT COMPS ANALYSIS
  • 6333 Kennard Drive Charlotte, NC 5
    • 3 beds 3 baths ∙ 2,266 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,266 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.83
    •  
  • 9026 Newfield Street Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,072 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,072 Sqft ∙ Built 2006
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,339
    • $0.65
    •  
  • 9217 Ames Hollow Road Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,128 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,128 Sqft ∙ Built 2005
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.73
    •  
  • 5321 Valcourt Road Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2005
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.71
    •  
  • 8838 Chalkstone Road Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2007
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.80
    •  
PROPERTY LISTING DETAILS
Grady Thomas
1.704.608.8575
Thomas Property Group, Inc.
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3705447
Last Updated: 02/18/2021
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