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119 Ivanhoe Lane Statesville, NC 28625

3 Beds 2 Baths 1,083 sqft Built 1954

$190,000

List Price

$1,010

$909 - $1.1K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $175.44
  • 2 Days on Market
  • MLS # : 3706128
  • Updated Date : 02/06/2021 at 17:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,083 sqft
  • Baths : 2 full
Listing Agent

Clickit Realty

Listing Agent's Description

This 3-bedroom, 2-bath brick ranch has been completely updated with new roof, HVAC, plumbing, electrical, windows, gutters, insulation, siding, flooring, kitchen, appliances, and bathrooms. It is located in a quiet neighborhood close to town. The house sits on a large corner lot with a fenced in back yard. It has a concrete handicap ramp and walk-in shower. All work was permitted and inspected. The kitchen features Quartzite countertops, tile back splash, new cabinets and new stainless steel appliances.

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MARKET HIGHLIGHTS

  • 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

Zip Code: 28625

ZipNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200kPrice in $59k213k

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

Zip Code: 28625

ZipNIR Market*CityMarket2010Year20002019 Q275080085090095010001050110011501200125013001350Rent in $7481375

* 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
N B Mills Elementary School Primary Regular 493 35 4
West Iredell Middle School Middle Regular 716 42 5
West Iredell High School High Regular 918 56 4

N B Mills Elementary School

  • Education Level: Primary
  • # of students: 493
  • # of teachers: 35
4
GreatSchools Rating

West Iredell Middle School

  • Education Level: Middle
  • # of students: 716
  • # of teachers: 42
5
GreatSchools Rating

West Iredell High School

  • Education Level: High
  • # of students: 918
  • # of teachers: 56
4
GreatSchools Rating
 

$171,000$209,000$190,000

PURCHASE PRICE

$909$1,111$1,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,010
EXPENSES Loan Payment -$660
Property Tax -$142
Property Insurance -$48
Property Management Fees -$119
CASH FLOW
$41

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.

$190,000

PROJECTED PRICE

$1,010

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 2.9%
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$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,100

INVESTMENT

$56,100

Down Payment
$47,500
Rehab Estimate
$5,750
Closing Costs
$2,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,500
Loan Amount $142,500
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$13,852

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,010

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,007

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,010
1$1,0102$1,0503$1,1004$1,200
$1,200
RENT COMPS ANALYSIS
  • 119 Ivanhoe Lane Statesville, NC 1
    • 3 beds 2 baths ∙ 1,083 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,083 Sqft ∙ Built 1954
    • Rent
    • Rent Per SQFT
    •  
    • $1,010
    • $0.93
    •  
  • 160 Bowman Road Statesville, NC 2
    • 3 beds 2 baths ∙ 1,144 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,144 Sqft ∙ Built 1997
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.92
    •  
  • 118 Brook Run Lane Statesville, NC 3
    • 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
Susan Ayers
1.888.875.4218
Clickit Realty
BESbswy