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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28677
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$110,425
LOAN DETAILS
$1,372
MONTHLY LOAN PAYMENT
Term | 30 Years |
Interest | 3.75% |
Down Payment | $98,750 |
Loan Amount | $296,250 |
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
PROPERTY LISTING DETAILS
1.336.561.1773
Exp Realty Llc