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PROPERTY INFO
FACTS
- Single Family
- Built In 2001
- Price/Sqft : $184.87
- 4 Days on Market
- MLS # : 3709806
- Updated Date : 02/20/2021 at 04:47
CONSTRUCTION
- Beds : 3
- Floor Size : 1,758 sqft
- Baths : 2 full
Listing Agent
Keller Williams Mooresville
Listing Agent's Description
Welcome Home! This is just the house you've been looking for. Situated on a spacious .60 acre lot w/ NO HOA & right down the street to Stumpy Creek Park & Boat Launch. Cozy living room has vaulted ceilings & big windows letting the natural light pour in. The updated kitchen features new shaker style doors & drawers, gorgeous Carrara QUARTZ counter tops, NEW SS APPLIANCES, & NEW Hardware. It opens to the breakfast area to enjoy the backyard views. FRESH PAINT & NEW CARPET throughout home. Owner's bedroom has tray ceiling & access to rear deck. Owner's bath has dual sinks, soaking tub, tile walk-in shower + large walk-in closet. The spacious rear deck overlooks a nice flat backyard-It's the perfect place for an afternoon BBQ. Just minutes to shopping & restaurants. At STUMPY CREEK PARK you can enjoy a playground, disc golf course, a walking track, ball fields & more. Award winning schools. Easy access to the lake. You'll love living here!
SEE MORE
- 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
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 | $1,850 |
| EXPENSES | Loan Payment | -$1,129 |
| Property Tax | -$135 | |
| Property Insurance | -$60 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$407
|
||
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.
$325,000
PROJECTED PRICE
$1,850
PROJECTED RENT
0.57%
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
$91,875
LOAN DETAILS
$1,129
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $81,250 |
| Loan Amount | $243,750 |
12.33
YEARS SAVED
$62,697
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,850
LIST RENT -
$1.05
LIST RENT PER SQFT
-
$1,842
COMP ESTIMATED VALUE -
$1.05
COMP AVG. RENT PER SQFT
Comps Range
-
105 Stumpy Creek Road Mooresville, NC 3
- 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2001
- Rent
- Rent Per SQFT
- $1,850
- $1.05
-
111 Kensington Street Mooresville, NC 1
- 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2003
LEASED 10/01/20- Rent
- Rent Per SQFT
- $1,560
- $1.04
-
191 Hanks Bluff Drive Mooresville, NC 2
- 3 beds 2 baths ∙ 1,735 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,735 Sqft ∙ Built 2020
LEASED 02/08/21- Rent
- Rent Per SQFT
- $1,775
- $1.02
-
104 Sea Trail Drive Mooresville, NC 4
- 3 beds 2 baths ∙ 1,935 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,935 Sqft ∙ Built 2004
LEASED 04/09/20- Rent
- Rent Per SQFT
- $1,900
- $0.98
-
154 Gray Willow Street Mooresville, NC 5
- 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 2020
LEASED 01/13/21- Rent
- Rent Per SQFT
- $2,095
- $1.10
PROPERTY LISTING DETAILS
1.704.728.1636
Keller Williams Mooresville
MLS #: 3709806
Last Updated: 02/20/2021
