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PROPERTY INFO
FACTS
- Single Family
- Built In 1997
- Price/Sqft : $152.15
- 25 Days on Market
- MLS # : 3680421
- Updated Date : 12/05/2020 at 12:52
CONSTRUCTION
- Beds : 4
- Floor Size : 2,228 sqft
- Baths : 2 full
Listing Agent
Southern Homes Of The Carolinas
Listing Agent's Description
Highly desirable 4 bedroom ranch in Winslow Bay, a beautiful waterfront community, in the heart of Mooresville. This well maintained home on a cul de sac offers a bright open floor plan with beautiful hardwood floors in the living room, dining room, great room & hall. The updated kitchen has stainless appliances, granite counters and breakfast area. Great room features a cozy fireplace and sliding doors that open up to the backyard & covered patio. A large owners suite with walk in closet/custom closet organizer, renovated bath with tiled shower and garden tub. Down the hall you'll find 3 spacious bedrooms, an updated 2nd bath and laundry room with custom cabinets. The owners just installed a fantastic solar panel system, saving you money. This friendly neighborhood has walk to amenities that include a club house, pool, tennis court, recreation area, walking trails, boat ramp and boat/RV storage! Extremely close to shopping & restaurants. Don't miss out on this amazing property!
SEE MORE
- 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: Winslow Bay
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Winslow Bay
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,740 |
| EXPENSES | Loan Payment | -$1,251 |
| Property Tax | -$316 | |
| Property Insurance | -$69 | |
| HOA | -$54 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$69
|
||
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.
$339,000
PROJECTED PRICE
$1,740
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 8.3% |
| 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
$95,585
LOAN DETAILS
$1,251
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $84,750 |
| Loan Amount | $254,250 |
4.5
YEARS SAVED
$18,157
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,740
LIST RENT -
$0.78
LIST RENT PER SQFT
-
$1,799
COMP ESTIMATED VALUE -
$0.81
COMP AVG. RENT PER SQFT
Comps Range
-
137 Comata Road Mooresville, NC 5
- 4 beds 2 baths ∙ 2,228 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,228 Sqft ∙ Built 1997
- Rent
- Rent Per SQFT
- $1,740
- $0.78
-
167 Walmsley Place Mooresville, NC 1
- 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 1997
LEASED 04/20/20- Rent
- Rent Per SQFT
- $1,600
- $0.72
-
180 Gresham Lane Mooresville, NC 2
- 3 beds 3 baths ∙ 1,909 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,909 Sqft ∙ Built 2006
LEASED 02/22/20- Rent
- Rent Per SQFT
- $1,625
- $0.85
-
172 Foxtail Drive Mooresville, NC 3
- 4 beds 3 baths ∙ 2,179 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,179 Sqft ∙ Built 1997
LEASED 10/03/19- Rent
- Rent Per SQFT
- $1,700
- $0.78
-
141 Walmsley Place Mooresville, NC 4
- 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 1997
LEASED 07/07/20- Rent
- Rent Per SQFT
- $1,700
- $0.88
PROPERTY LISTING DETAILS
1.704.838.6117
Southern Homes Of The Carolinas
