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116 W Americana Drive Mooresville, NC 28115

4 Beds 3 Baths 2,480 sqft Built 2020

$322,900

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $130.20
  • 10 Days on Market
  • MLS # : 3696738
  • Updated Date : 01/16/2021 at 11:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,480 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

The Meadows at Coddle Creek is a newer community with pool, cabana, and bocce ball court for home owners entertainment. The Amesbury floorplan is an open plan that is perfect for entertaining. Additional features include Revwood floors in the foyer & living area, 2 piece crown molding, wainscot molding in the foyer, granite counter tops in kitchen & bathrooms, ceramic tile shower in master bathroom, stainless steel appliances, tankless gas water heater & a smart home system and a covered rear porch. Connected includes programmable thermostat, Z-Wave door lock and wireless switch, touchscreen control device, automation platform, video doorbell, and Amazon Echo and Echo Dot. Bonus room downstairs has a closet and can be used as office/bedroom.

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

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$290,610$355,190$322,900

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 -$1,122
Property Tax -$301
Property Insurance -$74
HOA -$63
Property Management Fees -$119
CASH FLOW
$163

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.

$322,900

PROJECTED PRICE

$1,840

PROJECTED RENT

0.57%

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) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,569

INVESTMENT

$87,569

Down Payment
$80,725
Rehab Estimate
$2,000
Closing Costs
$4,844

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,122

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,725
Loan Amount $242,175
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$32,226

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
  • $0.74

    LIST RENT PER SQFT
  • $1,829

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7503$1,8004$1,8405$1,945
$1,945
RENT COMPS ANALYSIS
  • 116 W Americana Drive Mooresville, NC 4
    • 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.74
    •  
  • 116 Dovetail Drive Mooresville, NC 1
    • 3 beds 3 baths ∙ 2,284 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,284 Sqft ∙ Built 2004
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.70
    •  
  • 105 Royalton Road Mooresville, NC 2
    • 4 beds 3 baths ∙ 2,342 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,342 Sqft ∙ Built 1999
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.75
    •  
  • 132 Gilden Way Mooresville, NC 3
    • 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 5
    • 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
    •  
PROPERTY LISTING DETAILS
Christopher Wagner
1.704.363.8825
Exp Realty Llc
BESbswy