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133 Woodbine Court Mt Ulla, NC 28125

3 Beds 2 Baths 1,910 sqft Built 2004

$199,900

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $104.66
  • 6 Days on Market
  • MLS # : 3699923
  • Updated Date : 01/23/2021 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,910 sqft
  • Baths : 2 full
Listing Agent

Wilkinson Era Real Estate

Listing Agent's Description

There bedroom, two bathroom home with over 1,900 square feet of living space. Very well maintained home with an open floorplan and large kitchen. In addition to the three bedrooms there is a bonus room that can be used as an office, gym, or playroom. Large fenced lot with a ton of storage and garage space. The detached two car garage and storage building provide many possibilities for workshops space and hobbies. Enjoy the backyard from the large covered deck anytime. Furniture can be purchased with home.

SEE MORE

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

Zip Code: 28125

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220kPrice in $113k224k

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

Zip Code: 28125

ZipNIR Market*CityMarket2010Year20002019 Q270075080085090095010001050110011501200125013001350Rent in $6891375

* 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
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$694
Property Tax -$92
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$422

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.

$199,900

PROJECTED PRICE

$1,390

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.4%
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$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$694

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

14.67

YEARS SAVED

$48,461

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,538

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,4003$2,000
$2,000
RENT COMPS ANALYSIS
  • 133 Woodbine Court Mt Ulla, NC 1
    • 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.73
    •  
  • 366 Shinnville Road Mooresville, NC 2
    • 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1965
    LEASED 09/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.67
    •  
  • 728 Wiggins Road Mooresville, NC 3
    • 4 beds 3 baths ∙ 2,134 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,134 Sqft ∙ Built 1984
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.94
    •  
PROPERTY LISTING DETAILS
Zach Stamey
1.704.491.4745
Wilkinson Era Real Estate
BESbswy