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108 Krystal Nicole Lane Mooresville, NC 28115

4 Beds 4 Baths 2,544 sqft Built 1974

$339,900

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $133.61
  • 3 Days on Market
  • MLS # : 3716656
  • Updated Date : 03/13/2021 at 13:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,544 sqft
  • Baths : 3 full , 1 half
Listing Agent

Team Thomas & Associates Realty Inc.

Listing Agent's Description

Can't Miss Opportunity! 4bed 3.5bath Ranch with highly sought after Mooresville Graded Schools blocks away. Well maintained and updated throughout! Completely remodeled in 2000 with double-hung windows, plumbing, and electrical replaced. HVAC Trane replaced 2018. Engineered hardwood/ceramic tile floors, paint, and addition 2008. 2 Bedrooms have double closets. Tile shower master. Beautiful kitchen with granite countertops and SS appliances (refrigerator stays). 2-Car attached garage with concrete parking pad and multiple carports. Gas grill hard-piped to natural gas conveys. Septic system, city water, natural gas. City sewer connection is available at the street but not currently connected. Security system. Pest control contract in-hand. . NO HOA. You won't be disappointed!

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

Zip Code: 28115

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $113k288k

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

Zip Code: 28115

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8421614

* 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
Rocky River Elementary School Primary Regular 637 40 7
Mooresville Middle School Middle Regular 1,023 53 4
Mooresville High School High Regular 1,787 78 8

Rocky River Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 40
7
GreatSchools Rating

Mooresville Middle School

  • Education Level: Middle
  • # of students: 1,023
  • # of teachers: 53
4
GreatSchools Rating

Mooresville High School

  • Education Level: High
  • # of students: 1,787
  • # of teachers: 78
8
GreatSchools Rating
 

$305,910$373,890$339,900

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,181
Property Tax -$316
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
$189

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$339,900

PROJECTED PRICE

$1,880

PROJECTED RENT

0.55%

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) 8.00%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$34,311

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,003

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8803$1,9454$2,1005$2,250
$2,250
RENT COMPS ANALYSIS
  • 108 Krystal Nicole Lane Mooresville, NC 2
    • 4 beds 4 baths ∙ 2,544 Sqft ∙ Built 1974 4 beds 4 baths ∙ 2,544 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.74
    •  
  • 132 Gilden Way Mooresville, NC 1
    • 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2011
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.76
    •  
  • 178 Glenn Allen Road Mooresville, NC 3
    • 4 beds 3 baths ∙ 2,631 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,631 Sqft ∙ Built 2006
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.74
    •  
  • 118 E Americana Drive Mooresville, NC 4
    • 5 beds 4 baths ∙ 2,558 Sqft ∙ Built 2019 5 beds 4 baths ∙ 2,558 Sqft ∙ Built 2019
    LEASED 03/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.82
    •  
  • 141 Saye Place Mooresville, NC 5
    • 5 beds 4 baths ∙ 2,710 Sqft ∙ Built 2011 5 beds 4 baths ∙ 2,710 Sqft ∙ Built 2011
    LEASED 02/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.83
    •  
PROPERTY LISTING DETAILS
Brock Vanscoter
1.704.699.5332
Team Thomas & Associates Realty Inc.
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3716656
Last Updated: 03/13/2021
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