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118 E Americana Drive Mooresville, NC 28115

5 Beds 4 Baths 2,642 sqft Built 2019

$375,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $141.94
  • 2 Days on Market
  • MLS # : 3720258
  • Updated Date : 03/20/2021 at 20:36
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,642 sqft
  • Baths : 4 full
Listing Agent

The Lake Team Llc

Listing Agent's Description

Immaculate, move-in ready home. Open floor-plan, kitchen with gas stove/oven, microwave, granite counter-tops and walk-in pantry opens to breakfast area and large great room with gas fireplace. Formal dining. Main level bedroom/office with access to full bath. Upper level boasts large, primary bedroom with adjoining bath and oversized closet. Two secondary bedrooms share a bath. and an additional bonus/bedroom with walk in closet and full bath. Conveniently located to schools and shopping. Mooresville Graded School District. ***We are in a Multiple Offer situation and are calling for highest and best by Sunday, March 21, 2021, 6:00PM. Thank you all for showing!

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

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.
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,303
Property Tax -$356
Property Insurance -$77
HOA -$63
Property Management Fees -$119
CASH FLOW
$103

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.

$375,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.54%

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) 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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$26,861

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,942

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8254$1,9455$2,020
$2,020
RENT COMPS ANALYSIS
  • 118 E Americana Drive Mooresville, NC 5
    • 5 beds 4 baths ∙ 2,642 Sqft ∙ Built 2019 5 beds 4 baths ∙ 2,642 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.76
    •  
  • 105 Royalton Road Mooresville, NC 1
    • 4 beds 3 baths ∙ 2,342 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,342 Sqft ∙ Built 1999
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.75
    •  
  • 132 Gilden Way Mooresville, NC 2
    • 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2011
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.76
    •  
  • 203 Almora Loop Mooresville, NC 3
    • 4 beds 3 baths ∙ 2,662 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,662 Sqft ∙ Built 2005
    property image
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.69
    •  
  • 178 Glenn Allen Road Mooresville, NC 4
    • 4 beds 3 baths ∙ 2,631 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,631 Sqft ∙ Built 2006
    property image
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.74
    •  
PROPERTY LISTING DETAILS
Lucy Jacobs
1.704.252.1244
The Lake Team Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3720258
Last Updated: 03/20/2021
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