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136 Kristens Court Drive Mooresville, NC 28115

3 Beds 2 Baths 1,555 sqft Built 1999

$217,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $139.55
  • 3 Days on Market
  • MLS # : 3688704
  • Updated Date : 12/05/2020 at 17:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,555 sqft
  • Baths : 2 full
Listing Agent

Southern Homes Of The Carolinas

Listing Agent's Description

Sweet split bedroom floor plan, easy one-floor living in a great school district - what more could you want? Open great room features fireplace for cozy winter movie watching and lots of window space provides great natural light. Great room windows look into flat back yard with privacy fence for outdoor entertaining and garden space. Large primary bedroom with walk-in closet, nicely sized secondary bedrooms. Sunny kitchen with lots of cabinet space and counter work space. Dining area with large window overlooking back yard is a perfect place for quiet morning coffee and reflection to get your day started. 2-car garage, new roof in 2020, fresh paint and new flooring. Welcome home! Property has multiple offers. No showings after 3:00 on 12/6/20. Highest & best is due by 5:00 on 12/6/20.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Tall Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $113k288k

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

Neighborhood: Tall Oaks

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
East Mooresville Intermediate School Primary Regular 625 33 7
East Mooresville Intermediate School Middle Regular 625 33 7
Mooresville High School High Regular 1,787 78 8

East Mooresville Intermediate School

  • Education Level: Primary
  • # of students: 625
  • # of teachers: 33
7
GreatSchools Rating

East Mooresville Intermediate School

  • Education Level: Middle
  • # of students: 625
  • # of teachers: 33
7
GreatSchools Rating

Mooresville High School

  • Education Level: High
  • # of students: 1,787
  • # of teachers: 78
8
GreatSchools Rating
 

$195,300$238,700$217,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$801
Property Tax -$202
Property Insurance -$56
HOA -$18
Property Management Fees -$119
CASH FLOW
$114

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.

$217,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 3.0%
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

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$63,255

INVESTMENT

$63,255

Down Payment
$54,250
Rehab Estimate
$5,750
Closing Costs
$3,255

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$801

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,250
Loan Amount $162,750
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$24,831

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,337

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,310
1$1,3102$1,3493$1,3754$1,3955$1,395
$1,395
RENT COMPS ANALYSIS
  • 136 Kristens Court Drive Mooresville, NC 1
    • 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.84
    •  
  • 255 Sweet Martha Drive Mooresville, NC 2
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1999
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.84
    •  
  • 135 Devon Forest Drive Mooresville, NC 3
    • 3 beds 3 baths ∙ 1,594 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,594 Sqft ∙ Built 1999
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.86
    •  
  • 122 Bellelaine Drive Mooresville, NC 4
    • 4 beds 3 baths ∙ 1,662 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,662 Sqft ∙ Built 1998
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.84
    •  
  • 146 Chere Helen Drive Mooresville, NC 5
    • 4 beds 3 baths ∙ 1,548 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,548 Sqft ∙ Built 2000
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.90
    •  
PROPERTY LISTING DETAILS
Renee Austin Elkin
1.704.957.4991
Southern Homes Of The Carolinas
BESbswy