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PROPERTY INFO
FACTS
- Single Family
- Built In 2006
- Price/Sqft : $157.86
- 90 Days on Market
- MLS # : 3657875
- Updated Date : 11/27/2020 at 14:43
CONSTRUCTION
- Beds : 4
- Floor Size : 2,781 sqft
- Baths : 2 full , 1 half
Listing Agent
Allen Tate Mooresville/lake Norman
Listing Agent's Description
This is the one you have been waiting for! Finishing touches are just going on at this fabulous renovation in a small enclave of all brick homes located on the desirable Brawley Peninsula! Situated on nearly three quarters of an acre, this home boasts an open floor plan with beautiful new wood floors, fresh paint, and updated light fixtures throughout. You will love the chef's kitchen with top of the line GE Monogram SS appliances including a 36" dual fuel 6 burner range and built in refrigerator. It looks out into a dramatic two story great room with a fireplace that pops on a wall of shiplap and overlooks a rear deck and private, level yard. A main level master boasts a tray ceiling, two walk in closets, and an ensuite with custom tile shower with glass doors and a free standing soaking tub. Upstairs you will find two additional secondary bedrooms plus a spacious fourth bedroom/bonus all with new carpet. Low county taxes and low HOA. Seller is a licensed real estate agent.
SEE MORE
- 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: 28117
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28117
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,220 |
| EXPENSES | Loan Payment | -$1,620 |
| Property Tax | -$191 | |
| Property Insurance | -$80 | |
| HOA | -$25 | |
| Property Management Fees | -$200 | |
|
CASH FLOW
$105
|
||
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.
$439,000
PROJECTED PRICE
$2,220
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 5.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$122,085
LOAN DETAILS
$1,620
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $109,750 |
| Loan Amount | $329,250 |
6.5
YEARS SAVED
$39,910
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,220
LIST RENT -
$0.8
LIST RENT PER SQFT
-
$2,364
COMP ESTIMATED VALUE -
$0.85
COMP AVG. RENT PER SQFT
Comps Range
-
105 English Ivy Lane Mooresville, NC 1
- 4 beds 3 baths ∙ 2,781 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,781 Sqft ∙ Built 2006
![property image]()
- Rent
- Rent Per SQFT
- $2,220
- $0.80
-
136 Yellowbell Road Mooresville, NC 2
- 4 beds 3 baths ∙ 2,724 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,724 Sqft ∙ Built 2015
![property image]()
LEASED 08/09/20- Rent
- Rent Per SQFT
- $2,250
- $0.83
-
115 Swamp Rose Drive Mooresville, NC 3
- 5 beds 3 baths ∙ 2,970 Sqft ∙ Built 2015 5 beds 3 baths ∙ 2,970 Sqft ∙ Built 2015
![property image]()
LEASED 02/12/20- Rent
- Rent Per SQFT
- $2,400
- $0.81
-
187 Gannett Road Mooresville, NC 4
- 4 beds 4 baths ∙ 2,907 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,907 Sqft ∙ Built 2013
![property image]()
LEASED 12/07/19- Rent
- Rent Per SQFT
- $2,500
- $0.86
-
132 Cherry Bark Drive Mooresville, NC 5
- 5 beds 4 baths ∙ 3,030 Sqft ∙ Built 2015 5 beds 4 baths ∙ 3,030 Sqft ∙ Built 2015
![property image]()
LEASED 02/25/20- Rent
- Rent Per SQFT
- $2,550
- $0.84
PROPERTY LISTING DETAILS
1.704.928.6108
Allen Tate Mooresville/lake Norman
