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9305 Kestral Ridge Drive Charlotte, NC 28269

4 Beds 2 Baths 1,686 sqft Built 2001

$275,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $163.11
  • 11 Days on Market
  • MLS # : 3690430
  • Updated Date : 12/19/2020 at 16:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,686 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

This one has a lot of offer for the price. 4 Bedrooms in Highland creek. Showings start Sunday 12/20 at 8am. Schedule your showing now. Home is being freshly painted a neutral grey with new laminate flooring in 1 of the bedrooms. Lawn maintenance included in hoa.

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: Falcon Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Falcon Ridge

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
Highland Creek Elementary School Primary Regular 1,105 57 7
Ridge Road Middle School Middle Regular 1,285 65 6
Mallard Creek High School High Regular 2,472 123 6

Highland Creek Elementary School

  • Education Level: Primary
  • # of students: 1,105
  • # of teachers: 57
7
GreatSchools Rating

Ridge Road Middle School

  • Education Level: Middle
  • # of students: 1,285
  • # of teachers: 65
6
GreatSchools Rating

Mallard Creek High School

  • Education Level: High
  • # of students: 2,472
  • # of teachers: 123
6
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,015
Property Tax -$256
Property Insurance -$59
HOA -$54
Property Management Fees -$119
CASH FLOW
-$13

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.

$275,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 8.2%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$18,669

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,509

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,6003$1,6004$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 9305 Kestral Ridge Drive Charlotte, NC 1
    • 4 beds 2 baths ∙ 1,686 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,686 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.88
    •  
  • 8904 Kestral Ridge Drive Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,840 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,840 Sqft ∙ Built 2001
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.87
    •  
  • 9724 Kestral Ridge Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,768 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,768 Sqft ∙ Built 2002
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.90
    •  
  • 9011 Kestral Ridge Drive Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,870 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,870 Sqft ∙ Built 2000
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.86
    •  
  • 8616 Heron Glen Drive Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,791 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,791 Sqft ∙ Built 2002
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
PROPERTY LISTING DETAILS
Randy Justice
1.704.312.7812
Exp Realty Llc
BESbswy