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8118 Kalson Street Huntersville, NC 28078

4 Beds 3 Baths 2,758 sqft Built 2016

$335,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $121.46
  • 5 Days on Market
  • MLS # : 3680853
  • Updated Date : 11/14/2020 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,758 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allen Tate Lake Norman

Listing Agent's Description

Just minutes from all that Huntersville has to offer, situated conveniently between exit 23 and 25, step inside this like new home. Meticulously maintained – built in 2016 – this home offers gorgeous upgrades including all stainless steel appliances, built-in double ovens, gas range, granite throughout, and recently refinished wood floors on the main floor. The main living level offers an open floor plan w/plenty of room for guests. The fully fenced back yard situated right off of the kitchen allows for seamless indoor-outdoor entertainment. A secluded office at the front of the home w/great natural light is perfect for every Zoom meeting. Upstairs, you’ll find 4 spacious bedrooms and 2 full baths. The owner’s suite is its own private oasis w/ luxury vinyl plank flooring, walk-in closet and a large bathroom. The rear load garage with epoxy flooring is perfect for keeping your cars or toys out of the elements. New landscaping makes this home a jewel of the neighborhood!

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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: Huntersville

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Huntersville

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
Barnette Elementary School Primary Unknown 640 38 NA
Francis Bradley Middle School Middle Regular 1,140 59 6
Hopewell High School High Regular 1,653 87 3

Barnette Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 38
NA
GreatSchools Rating

Francis Bradley Middle School

  • Education Level: Middle
  • # of students: 1,140
  • # of teachers: 59
6
GreatSchools Rating

Hopewell High School

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

$301,500$368,500$335,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,236
Property Tax -$316
Property Insurance -$79
HOA -$59
Property Management Fees -$176
CASH FLOW
$93

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.

$335,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.4%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$27,423

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,110

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,960
1$1,9602$1,9953$1,9954$2,1005$2,350
$2,350
RENT COMPS ANALYSIS
  • 8118 Kalson Street Huntersville, NC 1
    • 4 beds 3 baths ∙ 2,758 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,758 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.71
    •  
  • 8133 Kalson Street Huntersville, NC 2
    • 4 beds 3 baths ∙ 2,776 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,776 Sqft ∙ Built 2016
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.72
    •  
  • 3934 Conner Glenn Drive Huntersville, NC 3
    • 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 2004
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.75
    •  
  • 11218 Grenfell Avenue Huntersville, NC 4
    • 4 beds 3 baths ∙ 2,642 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,642 Sqft ∙ Built 2018
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.79
    •  
  • 14726 Baytown Court Huntersville, NC 5
    • 4 beds 4 baths ∙ 2,937 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,937 Sqft ∙ Built 2017
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.80
    •  
PROPERTY LISTING DETAILS
Andy Nock
1.937.371.2572
Allen Tate Lake Norman
BESbswy