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131 Round Rock Road #8 Troutman, NC 28166

3 Beds 3 Baths 2,268 sqft Built 2020

$385,475

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $169.96
  • 122 Days on Market
  • MLS # : 3661543
  • Updated Date : 10/28/2020 at 09:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,268 sqft
  • Baths : 2 full , 1 half
Listing Agent

Pilot Realty & Development

Listing Agent's Description

New Construction Craftsman Style Home, With Family Builder

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
Shepherd Elementary School Primary Regular 491 29 5
Troutman Middle School Middle Regular 436 25 4
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

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
 

$346,928$424,023$385,475

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,339
Property Tax -$169
Property Insurance -$70
HOA -$50
Property Management Fees -$119
CASH FLOW
-$196

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.

$385,475

PROJECTED PRICE

$1,550

PROJECTED RENT

0.40%

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

PROJECTED ANNUAL CASH FLOW

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

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$104,151

INVESTMENT

$104,151

Down Payment
$96,369
Rehab Estimate
$2,000
Closing Costs
$5,782

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,339

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,369
Loan Amount $289,106
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$8,491

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,565

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,4853$1,5504$1,625
$1,625
RENT COMPS ANALYSIS
  • 131 Round Rock Road Troutman, NC 3
    • 3 beds 3 baths ∙ 2,268 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,268 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.68
    •  
  • 112 Powder Horn Road Mooresville, NC 1
    • 3 beds 2 baths ∙ 2,250 Sqft ∙ Built 1973 3 beds 2 baths ∙ 2,250 Sqft ∙ Built 1973
    property image
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.58
    •  
  • 244 Fesperman Circle Troutman, NC 2
    • 3 beds 3 baths ∙ 2,064 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,064 Sqft ∙ Built 2016
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,485
    • $0.72
    •  
  • 298 Fesperman Circle Troutman, NC 4
    • 4 beds 3 baths ∙ 2,107 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,107 Sqft ∙ Built 2015
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.77
    •  
PROPERTY LISTING DETAILS
Noah Terpak
1.704.609.1663
Pilot Realty & Development
BESbswy