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 Lockerbie Lane Mooresville, NC 28115

4 Beds 4 Baths 2,581 sqft Built 2000

$378,900

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $146.80
  • 3 Days on Market
  • MLS # : 3693469
  • Updated Date : 01/15/2021 at 20:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,581 sqft
  • Baths : 2 full , 2 half
Listing Agent

Keller Williams Mooresville

Listing Agent's Description

Beautiful home on gorgeous lot with mature trees, overlooking the 18th Tee Box. Notice the beautiful hardwood floors as you enter thru the front door. This 4 bedroom, 2 full bth, + 2 half bths home is lovely. Lg Kitchen with 42" white cabinets with separate eating area. Granite Counter tops + tile backsplash, stainless appliances, extra closet space for additional storage. Lg built in desk. LOTS of windows, enclosed Sun Room + deck. Gas log fireplace in family room. Separate living and dining area. 4 Bdrms upstairs + 2 full baths....large rooms. Master bath has lovely Claw Foot Tub. GREAT FINISHED BASEMENT: large recreation room, extra room could be bedroom/office and additional half bath. French Doors leading to back patio. Irrigation system in front and back yard. Gas heat. Builder: Trotter

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

Neighborhood: Muirfield

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $118k390k

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

Neighborhood: Muirfield

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8442004

* 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
South Elementary School Primary Regular 559 34 6
Mooresville Intermediate School Middle Regular 745 42 5
Mooresville High School High Regular 1,787 78 8

South Elementary School

  • Education Level: Primary
  • # of students: 559
  • # of teachers: 34
6
GreatSchools Rating

Mooresville Intermediate School

  • Education Level: Middle
  • # of students: 745
  • # of teachers: 42
5
GreatSchools Rating

Mooresville High School

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

$341,010$416,790$378,900

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,316
Property Tax -$378
Property Insurance -$76
HOA -$19
Property Management Fees -$119
CASH FLOW
-$67

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.

$378,900

PROJECTED PRICE

$1,840

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 2.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
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$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$106,159

INVESTMENT

$106,159

Down Payment
$94,725
Rehab Estimate
$5,750
Closing Costs
$5,684

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,316

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,725
Loan Amount $284,175
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$16,906

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,794

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,6753$1,7504$1,8405$1,975
$1,975
RENT COMPS ANALYSIS
  • 112 Lockerbie Lane Mooresville, NC 4
    • 4 beds 4 baths ∙ 2,581 Sqft ∙ Built 2000 4 beds 4 baths ∙ 2,581 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.71
    •  
  • 130 Colville Road Mooresville, NC 1
    • 3 beds 3 baths ∙ 2,388 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,388 Sqft ∙ Built 2008
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.70
    •  
  • 109 Sand Spur Drive Mooresville, NC 2
    • 4 beds 3 baths ∙ 2,581 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,581 Sqft ∙ Built 2008
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.65
    •  
  • 115 Colville Road Mooresville, NC 3
    • 3 beds 3 baths ∙ 2,384 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,384 Sqft ∙ Built 2007
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.73
    •  
  • 145 Four Seasons Way Mooresville, NC 5
    • 3 beds 3 baths ∙ 2,818 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,818 Sqft ∙ Built 2015
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.70
    •  
PROPERTY LISTING DETAILS
Pat Murphey
1.704.832.5868
Keller Williams Mooresville
BESbswy