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120 Camforth Drive Mooresville, NC 28117

3 Beds 3 Baths 1,641 sqft Built 2000

$259,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $157.83
  • 3 Days on Market
  • MLS # : 3711269
  • Updated Date : 03/20/2021 at 21:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,641 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group Select

Listing Agent's Description

Beautiful move-in ready 3bd/2.5ba home! Open floor plan, fenced yard, cover front porch, granite countertops in kitchen and bathrooms, neutral colors throughout, vinyl plank flooring, some new appliances (including refrigerator which stays), and a 2019 roof are just a few of the great assets of this home. Located close to shopping, restaurants, Nascar Training Institute and easy access to I77, HWY 21 and 150. Large bonus room has endless possibilities. Neighborhood has gated RV/Boat storage, basketball court, covered picnic area and a soccer field.

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: Brantley Place

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $108k288k

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

Neighborhood: Brantley Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8201614

* 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
Shepherd Elementary School Primary Regular 491 29 5
Lakeshore Middle School Middle Regular 514 29 7
Lake Norman High School High Regular 1,865 88 8

Shepherd Elementary School

  • Education Level: Primary
  • # of students: 491
  • # of teachers: 29
5
GreatSchools Rating

Lakeshore Middle School

  • Education Level: Middle
  • # of students: 514
  • # of teachers: 29
7
GreatSchools Rating

Lake Norman High School

  • Education Level: High
  • # of students: 1,865
  • # of teachers: 88
8
GreatSchools Rating
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$900
Property Tax -$241
Property Insurance -$58
HOA -$17
Property Management Fees -$119
CASH FLOW
$145

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.

$259,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 3.8%
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$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$900

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$25,929

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,579

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4803$1,5354$1,5955$1,699
$1,699
RENT COMPS ANALYSIS
  • 120 Camforth Drive Mooresville, NC 2
    • 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.90
    •  
  • 112 Daventry Place Mooresville, NC 1
    • 3 beds 3 baths ∙ 1,430 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,430 Sqft ∙ Built 2001
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.91
    •  
  • 117 Camforth Drive Mooresville, NC 3
    • 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 2000
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,535
    • $0.96
    •  
  • 186 Brantley Place Drive Mooresville, NC 4
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2001
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.05
    •  
  • 113 Camforth Drive Mooresville, NC 5
    • 4 beds 3 baths ∙ 1,835 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,835 Sqft ∙ Built 2000
    property image
    LEASED 02/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.93
    •  
PROPERTY LISTING DETAILS
Danielle Logue
1.704.838.6426
Realty One Group Select
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3711269
Last Updated: 03/20/2021
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