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122 Tattersall Drive Statesville, NC 28677

3 Beds 3 Baths 2,517 sqft Built 1994

$395,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $156.93
  • 7 Days on Market
  • MLS # : 3704276
  • Updated Date : 02/05/2021 at 18:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,517 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Great home in Windemere Lake Front community. This partial brick house offers 3 bedrooms, 2 and ½ baths, plus a huge bonus room over the 2 car garage. The house features granite countertops, hardwood flooring, stainless appliances, new fixtures, custom moldings, and a 30 year shingled roof. The private back deck overlooks woods for complete privacy where you can enjoy an evening fire while grilling dinner. Relax on summer nights in the lakefront community pool or clubhouse that may be reserved for private parties. Just a few steps, you enjoy a sunset cruise from your boat that is waiting for you at your own boat slip. Community also offers a storage lot for boats/trailers/rvs and a community tennis court. Great location that is only 1 mile from Lake Norman State Park, 5 minutes from Troutman, and 15 minutes from Statesville and Mooresville.

SEE MORE

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: 28677

ZipNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200kPrice in $59k213k

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

Zip Code: 28677

ZipNIR Market*CityMarket2010Year20002019 Q270075080085090095010001050110011501200125013001350Rent in $6771375

* 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
Troutman Elementary School Primary Regular 757 45 6
Troutman Middle School Middle Regular 436 25 4
South Iredell High School High Regular 1,505 92 5

Troutman Elementary School

  • Education Level: Primary
  • # of students: 757
  • # of teachers: 45
6
GreatSchools Rating

Troutman Middle School

  • Education Level: Middle
  • # of students: 436
  • # of teachers: 25
4
GreatSchools Rating

South Iredell High School

  • Education Level: High
  • # of students: 1,505
  • # of teachers: 92
5
GreatSchools Rating
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,372
Property Tax -$295
Property Insurance -$78
HOA -$88
Property Management Fees -$119
CASH FLOW
$109

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.

$395,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 4.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
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$20k

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$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$30,104

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,363

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0603$2,450
$2,450
RENT COMPS ANALYSIS
  • 122 Tattersall Drive Statesville, NC 2
    • 3 beds 3 baths ∙ 2,685 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,685 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.77
    •  
  • 210 Windemere Isle Road Statesville, NC 1
    • 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 1998
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.74
    •  
  • 1758 Sherwood Court Sherrills Ford, NC 3
    • 4 beds 4 baths ∙ 2,396 Sqft ∙ Built 1990 4 beds 4 baths ∙ 2,396 Sqft ∙ Built 1990
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.02
    •  
PROPERTY LISTING DETAILS
Mike Toler
1.336.561.1773
Exp Realty Llc
BESbswy