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7609 Kuck Road Mint Hill, NC 28227

4 Beds 3 Baths 3,435 sqft Built 2006

$355,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $103.35
  • 12 Days on Market
  • MLS # : 3681719
  • Updated Date : 11/21/2020 at 10:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,435 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Executive

Listing Agent's Description

Multiple offers received. Highest and best due by Saturday 11/21 @8PM. Amazing two-storey home in excellent condition in Mint Hill. Highly ventilated and open floor plan home with gleaming hw floors, large kitchen island with quartz counter tops (2018), stainless steel appliances, Roof (2020), quartz counter tops in master bath & upstairs bath (2018). Kitchen opens to great room w/fire place. As you walk-thru the upstairs, be ready to be surprised at the size of the large loft, large master suite w/trey ceiling, three large secondary bedrooms. This home is so spacious and well maintained you will be awestruck. Relax and entertain guests in the large fenced backyard with extended patio, well maintained Lawn with lawn irrigation, landscape lighting in front & backyard and concrete sidewalk connecting to backyard patio. Current owners purchased this home as new construction and chose to install 90% efficient furnace at that time. Just minutes away from I-485, shopping and restaurants.

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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: Versage

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $113k291k

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

Neighborhood: Versage

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8421846

* 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
Lebanon Road Elementary School Primary Regular 781 54 6
Northeast Middle School Middle Regular 739 45 3
Independence High School High Regular 2,349 128 6

Lebanon Road Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 54
6
GreatSchools Rating

Northeast Middle School

  • Education Level: Middle
  • # of students: 739
  • # of teachers: 45
3
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 2,349
  • # of teachers: 128
6
GreatSchools Rating
 

$319,500$390,500$355,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,310
Property Tax -$266
Property Insurance -$92
HOA -$30
Property Management Fees -$174
CASH FLOW
$59

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$355,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,310

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$22,783

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.56

    LIST RENT PER SQFT
  • $1,975

    COMP ESTIMATED VALUE
  • $0.58

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,9303$2,000
$2,000
RENT COMPS ANALYSIS
  • 7609 Kuck Road Mint Hill, NC 2
    • 4 beds 3 baths ∙ 3,435 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,435 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.56
    •  
  • 7816 Kuck Road Mint Hill, NC 1
    • 5 beds 3 baths ∙ 3,333 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,333 Sqft ∙ Built 2007
    LEASED 05/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.51
    •  
  • 7805 Kuck Road Mint Hill, NC 3
    • 5 beds 2 baths ∙ 3,390 Sqft ∙ Built 2007 5 beds 2 baths ∙ 3,390 Sqft ∙ Built 2007
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.59
    •  
PROPERTY LISTING DETAILS
Bala Sure
1.704.957.3265
Re/max Executive
BESbswy