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117 Denham Place Mooresville, NC 28115

4 Beds 3 Baths 2,872 sqft Built 2005

$335,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $116.64
  • -18 Days on Market
  • MLS # : CAR3760847
  • Updated Date : 07/13/2021 at 01:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,872 sqft
  • Baths : 3 full
Listing Agent

Mooresville Realty Llc

Listing Agent's Description

Welcome home to this beautiful 2 story home with 4 bedrooms, 3 baths, casual dining, office, sunken great room, fenced in backyard and large owner's suite. Neighborhood has a beautiful pool, clubhouse, and playground! This is a must see!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Curtis Pond

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $113k288k

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

Neighborhood: Curtis Pond

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8421747

* 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 Intermediate School Middle Regular 745 42 5
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 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
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,164
Property Tax -$312
Property Insurance -$81
HOA -$30
Property Management Fees -$119
CASH FLOW
$195

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.

$335,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 6.1%
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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

7.75

YEARS SAVED

$34,037

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,996

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8453$1,8654$1,9005$2,200
$2,200
RENT COMPS ANALYSIS
  • 117 Denham Place Mooresville, NC 4
    • 4 beds 3 baths ∙ 2,872 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,872 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.66
    •  
  • 200 Elrosa Road Mooresville, NC 1
    • 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2006
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.64
    •  
  • 179 Scanlon Road Mooresville, NC 2
    • 4 beds 3 baths ∙ 2,662 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,662 Sqft ∙ Built 2005
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.69
    •  
  • 123 Elba Drive Mooresville, NC 3
    • 4 beds 3 baths ∙ 2,829 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,829 Sqft ∙ Built 2005
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,865
    • $0.66
    •  
  • 214 Madelia Place Mooresville, NC 5
    • 4 beds 3 baths ∙ 2,783 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,783 Sqft ∙ Built 2005
    property image
    LEASED 03/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.79
    •  
PROPERTY LISTING DETAILS
Matt Perkins
1.704.778.8585
Mooresville Realty Llc
BESbswy