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1040 Moonlight Mist Road #136 Belmont, NC 28012

3 Beds 3 Baths 2,635 sqft Built 2020

$334,331

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $126.88
  • 4 Days on Market
  • MLS # : 3679380
  • Updated Date : 11/05/2020 at 16:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,635 sqft
  • Baths : 2 full , 1 half
Listing Agent

Taylor Morrison Of Carolinas Inc

Listing Agent's Description

This beautiful farmhouse home is situated on a cul-de-sac and just minutes from historic downtown Belmont, "where southern charm blossoms". Use that study at the front of the home to tackle your to-do list or perhaps you have someone "at-home" learning? Become the hostess with the mostess in this open floorplan prefect for entertaining. Imagine making memories snuggled up next to the gas fireplace in the family room on cozy winter nights, or entertaining guest around your kitchen island, while sharing stories and your favorite recipes in your modern kitchen, equipped with a Butler's Pantry. Enjoy summer evenings on your "rocking chair" front porch, while sipping on your favorite beverage, or just relax after a hard days work in the peacefulness of the spa-like walk in shower in your Owner's Suite. Don't miss out on one of the final opportunities in Morgan's Branch!!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lower Peninsula

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210kPrice in $113k213k

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

Neighborhood: Lower Peninsula

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350Rent in $8421396

* 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
Belmont Central Elementary School Primary Regular 678 35 7
Belmont Middle School Middle Regular 726 39 6
South Point High School High Regular 1,101 61 6

Belmont Central Elementary School

  • Education Level: Primary
  • # of students: 678
  • # of teachers: 35
7
GreatSchools Rating

Belmont Middle School

  • Education Level: Middle
  • # of students: 726
  • # of teachers: 39
6
GreatSchools Rating

South Point High School

  • Education Level: High
  • # of students: 1,101
  • # of teachers: 61
6
GreatSchools Rating
 

$300,898$367,764$334,331

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,234
Property Tax -$235
Property Insurance -$77
HOA -$65
Property Management Fees -$185
CASH FLOW
$255

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$334,331

PROJECTED PRICE

$2,050

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 3.00%
Vacancy 6.57%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$90,598

INVESTMENT

$90,598

Down Payment
$83,583
Rehab Estimate
$2,000
Closing Costs
$5,015

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,234

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,583
Loan Amount $250,748
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$47,888

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,064

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,0503$2,0954$2,145
$2,145
RENT COMPS ANALYSIS
  • 1040 Moonlight Mist Road Belmont, NC 2
    • 3 beds 3 baths ∙ 2,635 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,635 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.78
    •  
  • 9042 Seamill Road Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 2008
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.83
    •  
  • 121 Morgans Branch Road Belmont, NC 3
    • 3 beds 3 baths ∙ 2,652 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,652 Sqft ∙ Built 2018
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.79
    •  
  • 213 Morgans Branch Road Belmont, NC 4
    • 4 beds 3 baths ∙ 2,923 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,923 Sqft ∙ Built 2017
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $0.73
    •  
PROPERTY LISTING DETAILS
Scott Wilkinson
1.704.728.2642
Taylor Morrison Of Carolinas Inc
BESbswy