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127 Grafton Place Troutman, NC 28166

3 Beds 2 Baths 1,484 sqft Built 2006

$249,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $168.40
  • 4 Days on Market
  • MLS # : 3707664
  • Updated Date : 02/13/2021 at 20:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,484 sqft
  • Baths : 2 full
Listing Agent

Royal Properties

Listing Agent's Description

Newly remodeled home located on a 1 acre cul de sac lot. Recent remodel include new kitchen cabinets, granite countertops, tile backsplash, stainless appliances, new carpet, paint, new water heater, new bathroom vanities, new toilets, new well tank, new water softener, and new decking on back deck. This home is a must see. Its move in ready!

SEE MORE

MARKET HIGHLIGHTS

  • 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: 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
Lakeshore Elementary School Primary Regular 632 40 5
Lakeshore Middle School Middle Regular 514 29 7
Lake Norman High School High Regular 1,865 88 8

Lakeshore Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 40
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
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$868
Property Tax -$192
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$466

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.

$249,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.68%

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) 8.00%
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$5.0k$10k$15k$20k

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$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

13.83

YEARS SAVED

$56,366

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,726

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$1,249
1$1,2492$1,4503$1,7004$2,350
$2,350
RENT COMPS ANALYSIS
  • 127 Grafton Place Troutman, NC 3
    • 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.15
    •  
  • 113 Panther Road E Troutman, NC 1
    • 3 beds 2 baths ∙ 1,140 Sqft ∙ Built 3 beds 2 baths ∙ 1,140 Sqft ∙ Built
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $1.10
    •  
  • 312 Judas Road Mooresville, NC 2
    • 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 2004
    property image
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.11
    •  
  • 133 Gray Willow Street Mooresville, NC 4
    • 4 beds 2 baths ∙ 1,764 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,764 Sqft ∙ Built 2020
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.33
    •  
PROPERTY LISTING DETAILS
Mike Todd
1.704.608.6287
Royal Properties
BESbswy