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PROPERTY INFO
FACTS
- Single Family
- Built In 1996
- Price/Sqft : $125.21
- 2 Days on Market
- MLS # : 3704325
- Updated Date : 02/06/2021 at 15:18
CONSTRUCTION
- Beds : 5
- Floor Size : 2,915 sqft
- Baths : 2 full , 1 half
Listing Agent
Keller Williams Ballantyne Area
Listing Agent's Description
WELCOME HOME!! This house is SO unique, that you need to see it for yourself in person. The layout is SUPER cool downstairs, and the bonus room feels "hidden", which makes it the perfect "man cave" or play room. Newly remodeled kitchen, all hardwoods downstairs, 5 bedrooms, 2.5 baths, TONS of storage space, attached 2 car garage, butler's pantry, drop zone from the garage, etc etc. YOU SERIOUSLY MUST SEE THIS HOME!! Community offers two pools (one with lake view) and a community boat ramp!
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Wyndham Shores
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Wyndham Shores
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,110 |
| EXPENSES | Loan Payment | -$1,268 |
| Property Tax | -$357 | |
| Property Insurance | -$82 | |
| HOA | -$46 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$238
|
||
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.
$365,000
PROJECTED PRICE
$2,110
PROJECTED RENT
0.58%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 5.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$102,475
LOAN DETAILS
$1,268
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $91,250 |
| Loan Amount | $273,750 |
8.75
YEARS SAVED
$44,024
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,110
LIST RENT -
$0.72
LIST RENT PER SQFT
-
$2,143
COMP ESTIMATED VALUE -
$0.74
COMP AVG. RENT PER SQFT
Comps Range
-
119 Castleton Drive Mooresville, NC 3
- 5 beds 3 baths ∙ 2,915 Sqft ∙ Built 1996 5 beds 3 baths ∙ 2,915 Sqft ∙ Built 1996
- Rent
- Rent Per SQFT
- $2,110
- $0.72
-
111 Swamp Rose Drive Mooresville, NC 1
- 4 beds 3 baths ∙ 2,751 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,751 Sqft ∙ Built 2015
LEASED 01/07/20- Rent
- Rent Per SQFT
- $2,045
- $0.74
-
146 Cherry Bark Drive Mooresville, NC 2
- 4 beds 3 baths ∙ 2,740 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,740 Sqft ∙ Built 2014
LEASED 02/04/21- Rent
- Rent Per SQFT
- $2,100
- $0.77
-
129 Castleton Drive Mooresville, NC 4
- 5 beds 4 baths ∙ 3,086 Sqft ∙ Built 1996 5 beds 4 baths ∙ 3,086 Sqft ∙ Built 1996
LEASED 01/10/21- Rent
- Rent Per SQFT
- $2,150
- $0.70
-
103 Hayden Court Mooresville, NC 5
- 4 beds 3 baths ∙ 3,022 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,022 Sqft ∙ Built 1999
LEASED 11/03/20- Rent
- Rent Per SQFT
- $2,200
- $0.73
PROPERTY LISTING DETAILS
1.980.229.9798
Keller Williams Ballantyne Area
