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113 Ethel Lane 
Statesville, NC
28625
3 Beds 2 Baths 1,364 sqft
Built 1985
INVESTimate
$175,000
List Price
$52,125
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PROPERTY INFO
FACTS
- Built In 1985
- Price/Sqft : $128.30
- 6 Days on Market
- MLS # : 3654154
- Updated Date : 08/26/2020 at 00:05
CONSTRUCTION
- Beds : 3
- Floor Size : 1,364 sqft
- Baths : 2 full
Listing Agent
Allen Tate Statesville
Listing Agent's Description
Great location with a quick couple of miles to I40! 3 bedroom 2 bath home sits on a half acre level lot with large fenced backyard. Privacy fence and great patio off of the dining area. Beautiful family room with fireplace and gas log. Floorplan opens to the dining area. Private office or turn it in to huge pantry!
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: 28625
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28625
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,110 |
| EXPENSES | Loan Payment | -$646 |
| Property Tax | -$131 | |
| Property Insurance | -$53 | |
| Property Management Fees | -$100 | |
|
CASH FLOW
$181
|
||
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.
$175,000
PROJECTED PRICE
$1,110
PROJECTED RENT
0.63%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 2.87% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$52,125
LOAN DETAILS
$646
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $43,750 |
| Loan Amount | $131,250 |
9.5
YEARS SAVED
$27,724
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,110
LIST RENT -
$0.81
LIST RENT PER SQFT
-
$1,196
COMP ESTIMATED VALUE -
$0.88
COMP AVG. RENT PER SQFT
Comps Range
-
113 Ethel Lane Statesville, NC 3
- 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1985
- Rent
- Rent Per SQFT
- $1,110
- $0.81
-
147 Deercroft Drive Statesville, NC 1
- 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 2003
LEASED 09/10/19- Rent
- Rent Per SQFT
- $1,100
- $0.76
-
118 Brook Run Lane Statesville, NC 2
- 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2002
LEASED 01/16/20- Rent
- Rent Per SQFT
- $1,100
- $0.92
-
107 Antler Drive Statesville, NC 4
- 3 beds 2 baths ∙ 1,268 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,268 Sqft ∙ Built 1995
LEASED 04/27/20- Rent
- Rent Per SQFT
- $1,200
- $0.95
PROPERTY LISTING DETAILS
1.704.437.0204
Allen Tate Statesville
