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137 Currituck Court Mooresville, NC 28117

3 Beds 3 Baths 1,433 sqft Built 2002

$329,900

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $230.22
  • 4 Days on Market
  • MLS # : 3694592
  • Updated Date : 12/31/2020 at 13:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,433 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Huntersville

Listing Agent's Description

Ranch with a BASEMENT in fabulous location! Cut-de-sac lot, wooded and natural, quick walk to Lake Norman! This floorpan is perfect for so many scenarios. The finished basement has 2 separate living areas, a full bath and a separate bedroom. Upstairs is an open split bedroom ranch with hardwood floors, neutral decor, Stainless appliances and an eat in kitchen. 2 car attached garage and so much more!

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

Neighborhood: Harbor Cove

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $118k373k

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

Neighborhood: Harbor Cove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8442034

* 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
Lake Norman Elementary School Primary Regular 495 28 8
Brawley Middle School Middle Regular 746 41 7
Lake Norman High School High Regular 1,865 88 8

Lake Norman Elementary School

  • Education Level: Primary
  • # of students: 495
  • # of teachers: 28
8
GreatSchools Rating

Brawley Middle School

  • Education Level: Middle
  • # of students: 746
  • # of teachers: 41
7
GreatSchools Rating

Lake Norman High School

  • Education Level: High
  • # of students: 1,865
  • # of teachers: 88
8
GreatSchools Rating
 

$296,910$362,890$329,900

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,217
Property Tax -$307
Property Insurance -$54
HOA -$38
Property Management Fees -$119
CASH FLOW
-$66

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.

$329,900

PROJECTED PRICE

$1,670

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 9.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,217

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$18,164

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,652

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,5503$1,6454$1,6705$1,900
$1,900
RENT COMPS ANALYSIS
  • 137 Currituck Court Mooresville, NC 4
    • 3 beds 3 baths ∙ 1,433 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,433 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $1.17
    •  
  • 109 Diamond Drive Mooresville, NC 1
    • 3 beds 2 baths ∙ 1,143 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,143 Sqft ∙ Built 2004
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.22
    •  
  • 396 Reed Creek Road Mooresville, NC 2
    • 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 1994
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.02
    •  
  • 106 Shining Armor Court Mooresville, NC 3
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 3 beds 2 baths ∙ 1,350 Sqft ∙ Built
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $1.22
    •  
  • 110 Turnberry Lane Mooresville, NC 5
    • 3 beds 3 baths ∙ 1,658 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,658 Sqft ∙ Built 1992
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.15
    •  
PROPERTY LISTING DETAILS
Jenna Lucas
1.704.877.5300
Keller Williams Huntersville
BESbswy