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127 Slip Shot Lane #112 Troutman, NC 28166

4 Beds 3 Baths 2,654 sqft Built 2021

$369,239

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $139.13
  • 2 Days on Market
  • MLS # : 3697112
  • Updated Date : 01/09/2021 at 14:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,654 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lennar Sales Corp

Listing Agent's Description

New Construction Ready April! 4 bedroom 2.5 baths 2 story open floor plan. Spacious dining area to kitchen with large island and gas range. Large Owner's' suite with tiled shower and large walk- in closets. All secondary baths are tiled. Loft area just off of stairs on second floor. Hardie cement siding, Luxury vinyl flooring throughout main, crown molding at foyer and two piece chair rail in dining room. Falls Cove at Lake Norman community is conveniently close to shopping, 1 mile from marina, boat launch and lake Norman State Park swim beach and bathhouse complex. Enjoy kayaking and fishing just 1 mile away. Fully sodded backyard.

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

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$332,315$406,163$369,239

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$1,283
Property Tax -$293
Property Insurance -$77
HOA -$67
Property Management Fees -$119
CASH FLOW
$772

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.

$369,239

PROJECTED PRICE

$2,610

PROJECTED RENT

0.71%

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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k

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$99,848

INVESTMENT

$99,848

Down Payment
$92,310
Rehab Estimate
$2,000
Closing Costs
$5,539

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,283

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,310
Loan Amount $276,929
See What Happens When You Reinvest Cash Flow

14.92

YEARS SAVED

$93,281

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,601

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,610
$2,610
RENT COMPS ANALYSIS
  • 127 Slip Shot Lane Troutman, NC 2
    • 4 beds 3 baths ∙ 2,654 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,654 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $0.98
    •  
  • 174 Falls Cove Drive Troutman, NC 1
    • 4 beds 3 baths ∙ 2,446 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,446 Sqft ∙ Built 2019
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.94
    •  
PROPERTY LISTING DETAILS
Maria Degenhart
1.980.208.4206
Lennar Sales Corp
BESbswy