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8641 Kirchenbaum Drive Charlotte, NC 28210

3 Beds 2 Baths 1,771 sqft Built 1983

$335,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $189.16
  • 2 Days on Market
  • MLS # : 3698109
  • Updated Date : 01/16/2021 at 22:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,771 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Charming ranch on elevated lot. RARE FIND! 3-Car GARAGE in highly Desirable South Charlotte Community, Oberbeck Farm. You will feel right at home when you enter the light and airy living space with neutral hardwood floors throughout the main living areas, Ceramic tile flooring in kitchen, sunroom and two updated bathrooms! No carpet. Cozy up in the Great room in front of the double-sided masonry fireplace or the adjoining bright sunroom! Sunroom overlooks the private fenced-in backyard with tiered landscaping, raised planting beds and two brick paver patios. NEW HVAC IN 2019! WALKING DISTANCE TO Quail Corners shopping center and Sugar Creek Greenway. Better hurry - LOCATION, LOCATION, LOCATION!

SEE MORE

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: Park Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $111k318k

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

Neighborhood: Park Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $8442500

* 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
Smithfield Elementary School Primary Regular 646 44 6
Quail Hollow Middle School Middle Regular 946 51 3
South Mecklenburg High School High Regular 2,913 147 7

Smithfield Elementary School

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 44
6
GreatSchools Rating

Quail Hollow Middle School

  • Education Level: Middle
  • # of students: 946
  • # of teachers: 51
3
GreatSchools Rating

South Mecklenburg High School

  • Education Level: High
  • # of students: 2,913
  • # of teachers: 147
7
GreatSchools Rating
 

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

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,164
Property Tax -$305
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$22

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

$1,670

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.3%
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$16k

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.

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$22,410

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,846

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5503$1,6004$1,6705$1,800
$1,800
RENT COMPS ANALYSIS
  • 8641 Kirchenbaum Drive Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,771 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,771 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.94
    •  
  • 3125 Windstream Court Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,532 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,532 Sqft ∙ Built 1987
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.98
    •  
  • 2634 Lytham Drive Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1981
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
  • 2310 Oldenburg Drive Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,465 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,465 Sqft ∙ Built 1982
    LEASED 07/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.09
    •  
  • 9249 Essen Lane Charlotte, NC 5
    • 4 beds 3 baths ∙ 1,575 Sqft ∙ Built 1983 4 beds 3 baths ∙ 1,575 Sqft ∙ Built 1983
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.14
    •  
PROPERTY LISTING DETAILS
Keeley Tase
1.704.562.1028
Exp Realty Llc
BESbswy