Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

112 Cypress Acres Lane Statesville, NC 28625

3 Beds 2 Baths 1,492 sqft Built 2021

$259,900

List Price

$1,140

$1K - $1.3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $174.20
  • 3 Days on Market
  • MLS # : 3717863
  • Updated Date : 03/12/2021 at 14:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,492 sqft
  • Baths : 2 full
Listing Agent

Listwithfreedom.com Inc

Listing Agent's Description

Beautiful 3 bed 2 bath home located just north of Statesville. Will be completed end of this month.

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: 28625

ZipNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200kPrice in $59k213k

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

Zip Code: 28625

ZipNIR Market*CityMarket2010Year20002019 Q275080085090095010001050110011501200125013001350Rent in $7481375

* 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
Third Creek Elementary School Primary Regular 540 39 5
Statesville Middle School Middle Regular 454 34 1
Statesville High School High Regular 1,029 67 1

Third Creek Elementary School

  • Education Level: Primary
  • # of students: 540
  • # of teachers: 39
5
GreatSchools Rating

Statesville Middle School

  • Education Level: Middle
  • # of students: 454
  • # of teachers: 34
1
GreatSchools Rating

Statesville High School

  • Education Level: High
  • # of students: 1,029
  • # of teachers: 67
1
GreatSchools Rating
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,026$1,254$1,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,140
EXPENSES Loan Payment -$903
Property Tax -$116
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
-$53

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.

$259,900

PROJECTED PRICE

$1,140

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 2.9%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,874

INVESTMENT

$70,874

Down Payment
$64,975
Rehab Estimate
$2,000
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$11,235

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,140

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,149

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$1,1403$1,1504$1,1505$1,150
$1,150
RENT COMPS ANALYSIS
  • 112 Cypress Acres Lane Statesville, NC 2
    • 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,140
    • $0.76
    •  
  • 639 Harrison Street Statesville, NC 1
    • 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1930 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1930
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.71
    •  
  • 223 Maple Street Statesville, NC 3
    • 4 beds 2 baths ∙ 1,553 Sqft ∙ Built 1916 4 beds 2 baths ∙ 1,553 Sqft ∙ Built 1916
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.74
    •  
  • 607 Salisbury Road Statesville, NC 4
    • 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1949
    property image
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.77
    •  
  • 306 Holland Circle Statesville, NC 5
    • 3 beds 2 baths ∙ 1,339 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,339 Sqft ∙ Built 1965
    property image
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.86
    •  
PROPERTY LISTING DETAILS
Ralph Harvey
1.855.456.4945
Listwithfreedom.com Inc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3717863
Last Updated: 03/12/2021
BESbswy