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126 Fairfield Drive #18 Troutman, NC 28166

3 Beds 3 Baths 2,138 sqft Built 2021

$327,600

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $153.23
  • 5 Days on Market
  • MLS # : 3719231
  • Updated Date : 03/24/2021 at 09:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,138 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tls Realty Llc

Listing Agent's Description

NEW 3BR/2.5BTH in Sutters Mill. Nicely appointed throughout with marble countertops and stainless appliances. Plus Bright Great Room and Formal Dining. Main Floor Owner's Retreat features Dual Bowl Vanity and spacious Walk in Closet. Convenient to 77 and 21, and the shopping/dining of 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: 28166

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $106k261k

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

Zip Code: 28166

ZipNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350Rent in $7581375

* 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
Troutman Middle School Middle Regular 436 25 4
South Iredell High School High Regular 1,505 92 5

Shepherd Elementary School

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

$294,840$360,360$327,600

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,138
Property Tax -$143
Property Insurance -$67
HOA -$27
Property Management Fees -$119
CASH FLOW
$75

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$327,600

PROJECTED PRICE

$1,570

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 3.00%
Vacancy 6.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,814

INVESTMENT

$88,814

Down Payment
$81,900
Rehab Estimate
$2,000
Closing Costs
$4,914

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,138

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,900
Loan Amount $245,700
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$25,525

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,593

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,485
1$1,4852$1,5703$1,625
$1,625
RENT COMPS ANALYSIS
  • 126 Fairfield Drive Troutman, NC 2
    • 3 beds 3 baths ∙ 2,138 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,138 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.73
    •  
  • 244 Fesperman Circle Troutman, NC 1
    • 3 beds 3 baths ∙ 2,064 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,064 Sqft ∙ Built 2016
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,485
    • $0.72
    •  
  • 298 Fesperman Circle Troutman, NC 3
    • 4 beds 3 baths ∙ 2,107 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,107 Sqft ∙ Built 2015
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.77
    •  
PROPERTY LISTING DETAILS
John Seabeck
1.980.313.3321
Tls Realty Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3719231
Last Updated: 03/24/2021
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