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

696 Deaton Street Kannapolis, NC 28081

3 Beds 2 Baths 1,176 sqft Built 2018

$183,900

List Price

$1,210

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $156.38
  • 3 Days on Market
  • MLS # : 3680025
  • Updated Date : 11/06/2020 at 22:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,176 sqft
  • Baths : 2 full
Listing Agent

Key Real Estate

Listing Agent's Description

LOCATION! This is a must see 3 bed 2 full bath home LESS than 3 years old! This home is the last house on a dead-end street-so privacy is great at this home. Located in a quiet neighborhood near the heart of downtown Kannapolis and the Kannapolis Cannon Ballers Stadium. New leaf guard gutters with transferable lifetime warranty were installed September 2020.

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

Zip Code: 28081

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $71k213k

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

Zip Code: 28081

ZipNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300Rent in $6251375

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$165,510$202,290$183,900

PURCHASE PRICE

$1,089$1,331$1,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,210
EXPENSES Loan Payment -$679
Property Tax -$156
Property Insurance -$49
Property Management Fees -$109
CASH FLOW
$217

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.

$183,900

PROJECTED PRICE

$1,210

PROJECTED RENT

0.66%

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$100k$200k$300k$400k$500k$600k$700k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,484

INVESTMENT

$54,484

Down Payment
$45,975
Rehab Estimate
$5,750
Closing Costs
$2,759

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$679

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $45,975
Loan Amount $137,925
See What Happens When You Reinvest Cash Flow

10.33

YEARS SAVED

$33,052

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,210

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,105

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,095
1$1,0952$1,2103$1,2494$1,3005$1,315
$1,315
RENT COMPS ANALYSIS
  • 696 Deaton Street Kannapolis, NC 2
    • 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $1.03
    •  
  • 709 Margate Avenue Kannapolis, NC 1
    • 3 beds 1 baths ∙ 1,250 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,250 Sqft ∙ Built 1948
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.88
    •  
  • 708 Deaton Street Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 3 beds 2 baths ∙ 1,232 Sqft ∙ Built
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $1.01
    •  
  • 607 Bethpage Road Kannapolis, NC 4
    • 3 beds 2 baths ∙ 1,473 Sqft ∙ Built 1932 3 beds 2 baths ∙ 1,473 Sqft ∙ Built 1932
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.88
    •  
  • 700 Margate Avenue Kannapolis, NC 5
    • 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 3 beds 2 baths ∙ 1,330 Sqft ∙ Built
    LEASED 08/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,315
    • $0.99
    •  
PROPERTY LISTING DETAILS
Travis Rabon
1.704.506.0236
Key Real Estate
BESbswy