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104 Autumn Mist Road Statesville, NC 28677

3 Beds 3 Baths 2,988 sqft Built 2018

INVESTimate

$305,000

List Price

$1,740

$1,566 - $1,914

Rent Est.

$317,780  ( +4.19%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2018
  • Price/Sqft : $102.07
  • 9 Days on Market
  • MLS # : 3643689
  • Updated Date : 08/19/2020 at 13:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,988 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allen Tate Huntersville

Listing Agent's Description

A spacious 2-story foyer greets guests to this McIntosh design home, a popular plan that's the perfect size for many families. A grand dining room accommodates family & friends get-togethers. The adjacent kitchen has a huge peninsula with granite countertop & overlooks the breakfast area & great room. The main floor includes crown molding & 5" engineered hardwoods. The master bedroom has a tray ceiling along plus a large separate sitting room & spacious master bath. Another bedroom plus bedroom/bonus, bathroom and a laundry complete the 2nd floor. There's a side-entry garage & plenty of off street parking for your visitors. Situated on a .56-acre this home enjoys the benefit of adjoining HOA maintained trees/gardens. Sit out on your front porch and watch the world go by or enjoy the large backyard. 2-10 Home Warranty Included. Iredell County taxes only! Statesville area has a variety of things to do with its vineyard, parks, golf club, college, restaurants and more!

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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

Zip Code: 28677

ZipNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200kPrice in $59k213k

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

Zip Code: 28677

ZipNIR Market*CityMarket2010Year20002019 Q270075080085090095010001050110011501200125013001350Rent in $6771375

* 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
Troutman Elementary School Primary Regular 757 45 6
Troutman Middle School Middle Regular 436 25 4
South Iredell High School High Regular 1,505 92 5

Troutman Elementary School

  • Education Level: Primary
  • # of students: 757
  • # of teachers: 45
6
GreatSchools Rating

Troutman Middle School

  • Education Level: Middle
  • # of students: 436
  • # of teachers: 25
4
GreatSchools Rating

South Iredell High School

  • Education Level: High
  • # of students: 1,505
  • # of teachers: 92
5
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,125
Property Tax -$260
Property Insurance -$83
HOA -$50
Property Management Fees -$157
CASH FLOW
$64

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.

$305,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 4.19%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$20,291

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.58

    LIST RENT PER SQFT
  • $1,838

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,7403$1,895
$1,895
RENT COMPS ANALYSIS
  • 104 Autumn Mist Road Statesville, NC 2
    • 3 beds 3 baths ∙ 2,988 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,988 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.58
    •  
  • 104 Shadow Woods Road Statesville, NC 1
    • 4 beds 3 baths ∙ 2,704 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,704 Sqft ∙ Built 2017
    LEASED 07/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.58
    •  
  • 105 Summer Breeze Court Statesville, NC 3
    • 4 beds 3 baths ∙ 2,930 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,930 Sqft ∙ Built 2005
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.65
    •  
PROPERTY LISTING DETAILS
Therese Moreley
1.980.319.7907
Allen Tate Huntersville
BESbswy