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120 Brewer Lane 
Mooresville, NC
28115
3 Beds 2 Baths 1,760 sqft
Built 2003
INVESTimate
$274,900
List Price
$78,599
REQUEST INFO
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PROPERTY INFO
FACTS
- Built In 2003
- Price/Sqft : $156.19
- 3 Days on Market
- MLS # : 3655053
- Updated Date : 08/24/2020 at 17:06
CONSTRUCTION
- Beds : 3
- Floor Size : 1,760 sqft
- Baths : 2 full
Listing Agent
Lkn Property Pros Llc
Listing Agent's Description
This Lovely ranch home w/ full basement has an open floor plan & split bedroom design. No carpet anywhere! Beautiful maintenance-free floors through-out home. A spacious great room features a vaulted ceiling & wood burning fireplace. The large master suite boasts a separate garden tub & shower as well as dual sinks. The Main level also has a flex space suitable for a dining room, office, play room, media room or guest room. A beautiful upper level deck overlooks a rippling creek & wooded area. The lower level has an enormous unfinished basement w/ tons of area for storage, games, or future expansion. The basement walks out to a cozy screened-in porch & a patio. The garage is over sized & there is also a large storage building as well as a shed. This beauty is tucked back off the road on almost an acre. No HOA! Plenty of opportunity for expansion. Property in front of house will be A Gas Station. See attached plan/drawing.
SEE MORE
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28115
* 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.
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,600 |
| EXPENSES | Loan Payment | -$1,014 |
| Property Tax | -$112 | |
| Property Insurance | -$60 | |
| Property Management Fees | -$144 | |
|
CASH FLOW
$269
|
||
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.
$274,900
PROJECTED PRICE
$1,600
PROJECTED RENT
0.58%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 5.37% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$78,599
LOAN DETAILS
$1,014
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $68,725 |
| Loan Amount | $206,175 |
9.67
YEARS SAVED
$45,478
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,600
LIST RENT -
$0.91
LIST RENT PER SQFT
-
$1,610
COMP ESTIMATED VALUE -
$0.92
COMP AVG. RENT PER SQFT
Comps Range
-
120 Brewer Lane Mooresville, NC 3
- 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 2003
- Rent
- Rent Per SQFT
- $1,600
- $0.91
-
142 Elgin Lane Mooresville, NC 1
- 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2002
LEASED 07/11/19- Rent
- Rent Per SQFT
- $1,495
- $0.83
-
114 Sawhorse Drive Mooresville, NC 2
- 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 2001
LEASED 08/04/20- Rent
- Rent Per SQFT
- $1,595
- $0.87
-
118 White Ash Drive Mooresville, NC 4
- 3 beds 3 baths ∙ 1,891 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,891 Sqft ∙ Built 2020
LEASED 03/11/20- Rent
- Rent Per SQFT
- $1,850
- $0.98
-
112 White Ash Drive Mooresville, NC 5
- 3 beds 3 baths ∙ 1,891 Sqft ∙ Built 3 beds 3 baths ∙ 1,891 Sqft ∙ Built
LEASED 03/18/20- Rent
- Rent Per SQFT
- $1,850
- $0.98
PROPERTY LISTING DETAILS
1.704.451.0083
Lkn Property Pros Llc
