Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 2007
- Price/Sqft : $146.21
- 5 Days on Market
- MLS # : 3694341
- Updated Date : 01/02/2021 at 15:41
CONSTRUCTION
- Beds : 4
- Floor Size : 2,688 sqft
- Baths : 3 full , 1 half
Listing Agent
Keller Williams Lake Norman
Listing Agent's Description
Move in Ready with LOTS of recent updates! This two story home has a floor plan that buyers will love! Main floor master, with a separate sitting area. Open floor plan, including a sunroom with French doors and plenty of natural light. Convenient living with laundry on the main floor. Upstairs, you will find three spacious bedrooms and two full bathrooms. New granite countertop in master bath. Sellers have had the entire interior painted. New Blinds. New Carpet. Great location – close to shops, dining, 77 and the lake! No HOA!
SEE MORE
- 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: 28117
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28117
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,360 |
| EXPENSES | Loan Payment | -$1,450 |
| Property Tax | -$164 | |
| Property Insurance | -$78 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$550
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.
$393,000
PROJECTED PRICE
$2,360
PROJECTED RENT
0.60%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 5.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$109,895
LOAN DETAILS
$1,450
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $98,250 |
| Loan Amount | $294,750 |
12.92
YEARS SAVED
$94,450
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,360
LIST RENT -
$0.88
LIST RENT PER SQFT
-
$2,446
COMP ESTIMATED VALUE -
$0.91
COMP AVG. RENT PER SQFT
Comps Range
-
130 Sea Trail Drive Mooresville, NC 4
- 4 beds 4 baths ∙ 2,688 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,688 Sqft ∙ Built 2007
- Rent
- Rent Per SQFT
- $2,360
- $0.88
-
171 Rustling Waters Drive Mooresville, NC 1
- 3 beds 3 baths ∙ 2,423 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,423 Sqft ∙ Built 2016
LEASED 10/22/19- Rent
- Rent Per SQFT
- $1,975
- $0.82
-
190 Atwater Landing Drive Mooresville, NC 2
- 5 beds 3 baths ∙ 2,446 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,446 Sqft ∙ Built 2020
LEASED 06/26/20- Rent
- Rent Per SQFT
- $2,200
- $0.90
-
687 Normandy Road Mooresville, NC 3
- 3 beds 2 baths ∙ 2,400 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,400 Sqft ∙ Built 2005
LEASED 08/15/19- Rent
- Rent Per SQFT
- $2,300
- $0.96
-
109 Creekside Crossing Mooresville, NC 5
- 5 beds 3 baths ∙ 2,641 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,641 Sqft ∙ Built 2017
LEASED 01/06/20- Rent
- Rent Per SQFT
- $2,400
- $0.91
PROPERTY LISTING DETAILS
1.704.437.6463
Keller Williams Lake Norman
