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127 Park Vista Drive Troutman, NC 28166

3 Beds 2 Baths 1,414 sqft Built 2013

$250,000

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $176.80
  • 2 Days on Market
  • MLS # : 3678575
  • Updated Date : 11/02/2020 at 20:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,414 sqft
  • Baths : 2 full
Listing Agent

Lake Norman Realty, Inc.

Listing Agent's Description

Newer Ranch Home ready now! Bright and Open Floor Plan will please your Buyers looking for the perfect Ranch Home. Close to Lake Norman State Park with Lake Access, Low Iredell County taxes, and No HOA. Huge .77 Acre Lot for lots of outdoor space. Lots of curb appeal and a welcoming front Porch. As soon as you enter the Home, you will see pride of ownership in every detail. Lots of Natural Light fill the vaulted Great Room that's open to the Dining and Kitchen. There's custom Base board molding and Crown molding, Granite counters and a Kitchen Island. Generous Custom Cherry Cabinetry with under mount Lighting. The Atrium Door leads to the Deck that overlooks the huge Back Yard. Sealed concrete Crawl Space with temperature vents offers 1,400 sf storage! Transferrable Termite Warranty. The Master Bedroom is huge, and features a Walk in Closet and Crown Molding. All Bathrooms feature higher vanities & Tiled Floors. New Upgraded Carpet with upgraded padding are in all Bedrooms.

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
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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$922
Property Tax -$192
Property Insurance -$54
Property Management Fees -$113
CASH FLOW
-$22

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.

$250,000

PROJECTED PRICE

$1,260

PROJECTED RENT

0.50%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$10,782

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,248

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$1,0953$1,2254$1,2605$1,449
$1,449
RENT COMPS ANALYSIS
  • 127 Park Vista Drive Troutman, NC 4
    • 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.89
    •  
  • 172 W Church Street Troutman, NC 1
    • 3 beds 1 baths ∙ 1,160 Sqft ∙ Built 1958 3 beds 1 baths ∙ 1,160 Sqft ∙ Built 1958
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.82
    •  
  • 415 Avon Avenue Troutman, NC 2
    • 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1975
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.87
    •  
  • 805 Stratford Road Troutman, NC 3
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 2007
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.91
    •  
  • 126 Valley Glen Drive Troutman, NC 5
    • 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 3 beds 2 baths ∙ 1,562 Sqft ∙ Built
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.93
    •  
PROPERTY LISTING DETAILS
Ann Scott
1.704.763.2072
Lake Norman Realty, Inc.
BESbswy