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128 Zolder Lane Mooresville, NC 28117

4 Beds 3 Baths 2,604 sqft Built 2003

$297,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $114.06
  • 3 Days on Market
  • MLS # : 3690649
  • Updated Date : 12/11/2020 at 11:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,604 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Mooresville two-story home offers a patio, granite countertops, and a two-car garage. This home is vacant and cleaned regularly.

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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

Neighborhood: Greencroft

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $113k288k

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

Neighborhood: Greencroft

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8421614

* 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
Lakeshore Middle School Middle Regular 514 29 7
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

Lakeshore Middle School

  • Education Level: Middle
  • # of students: 514
  • # of teachers: 29
7
GreatSchools Rating

South Iredell High School

  • Education Level: High
  • # of students: 1,505
  • # of teachers: 92
5
GreatSchools Rating
 

$267,300$326,700$297,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,096
Property Tax -$276
Property Insurance -$76
HOA -$23
Property Management Fees -$119
CASH FLOW
$40

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.

$297,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.1%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,455

INVESTMENT

$84,455

Down Payment
$74,250
Rehab Estimate
$5,750
Closing Costs
$4,455

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,096

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,250
Loan Amount $222,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$22,009

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $1,621

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5453$1,5504$1,6305$1,700
$1,700
RENT COMPS ANALYSIS
  • 128 Zolder Lane Mooresville, NC 4
    • 4 beds 3 baths ∙ 2,604 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,604 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.63
    •  
  • 177 Flanders Drive Mooresville, NC 1
    • 4 beds 3 baths ∙ 2,664 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,664 Sqft ∙ Built 2003
    property image
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.56
    •  
  • 179 Grayland Road Mooresville, NC 2
    • 4 beds 3 baths ∙ 2,446 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,446 Sqft ∙ Built 2000
    property image
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.63
    •  
  • 111 Ranney Way S Mooresville, NC 3
    • 4 beds 3 baths ∙ 2,376 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,376 Sqft ∙ Built 2003
    property image
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.65
    •  
  • 150 Wrangell Drive Mooresville, NC 5
    • 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 2018
    property image
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.65
    •  
PROPERTY LISTING DETAILS
Verria Hairston
1.704.751.0133
Opendoor Brokerage Llc
BESbswy