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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.
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: Versage
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Versage
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$99,825
LOAN DETAILS
$1,310
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $88,750 |
| Loan Amount | $266,250 |
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
-
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
1.704.957.3265
Re/max Executive
