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134 Alexander Knoll Drive Statesville, NC 28625

3 Beds 3 Baths 1,724 sqft Built 2007

$249,900

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $144.95
  • 6 Days on Market
  • MLS # : 3689746
  • Updated Date : 12/12/2020 at 16:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,724 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lake Norman Realty, Inc.

Listing Agent's Description

Welcome Home! Beautifully maintained ranch home on quiet cul-de-sac street. Lovely screened porch and deck overlooking expansive and completely fenced back yard with workshop and shed. Oversized, insulated garage with built in cabinets and sink, large kitchen with center island, custom cherry cabinets with roll out shelves, large pantry and stainless appliances. Only 1.5 miles to I-40 with easy access to Highways 16 and 77.

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: 28625

ZipNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200kPrice in $59k213k

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

Zip Code: 28625

ZipNIR Market*CityMarket2010Year20002019 Q275080085090095010001050110011501200125013001350Rent in $7481375

* 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
Sharon Elementary School Primary Regular 285 18 8
West Iredell Middle School Middle Regular 716 42 5
West Iredell High School High Regular 918 56 4

Sharon Elementary School

  • Education Level: Primary
  • # of students: 285
  • # of teachers: 18
8
GreatSchools Rating

West Iredell Middle School

  • Education Level: Middle
  • # of students: 716
  • # of teachers: 42
5
GreatSchools Rating

West Iredell High School

  • Education Level: High
  • # of students: 918
  • # of teachers: 56
4
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$922
Property Tax -$207
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$112

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.

$249,900

PROJECTED PRICE

$1,420

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 2.9%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$27,544

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,155

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,420
$1,420
RENT COMPS ANALYSIS
  • 134 Alexander Knoll Drive Statesville, NC 2
    • 3 beds 3 baths ∙ 1,724 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,724 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.82
    •  
  • 105 Proust Road Statesville, NC 1
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1972
    property image
    LEASED 07/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.67
    •  
PROPERTY LISTING DETAILS
Lisa Reutimann
1.828.358.9966
Lake Norman Realty, Inc.
BESbswy