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143 Heywatchis Drive Mooresville, NC 28115

4 Beds 3 Baths 3,301 sqft Built 2007

$439,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $132.99
  • 4 Days on Market
  • MLS # : 3720588
  • Updated Date : 03/27/2021 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,301 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Mooresville

Listing Agent's Description

Photos were taken PRIOR to installation of GORGEOUS Luxury Vinyl Plank Flooring! Come and see this beautiful home with private salt water pool, expansive decking and child proof fencing. Inside the grand foyer is flanked by formal dining and a study with arches, tray ceilings and crown molding. The open great room features a gas log fireplace and upgraded ceiling fan. In the heart of the home is the stunningly updated kitchen with white cabinets, modern hardware, stainless appliances including GAS range, granite countertops, pretty backsplash and breakfast bar. You will love the additional space offered by the informal dining area and sunroom (or play area!) The main floor bedroom and full bath are perfect for the privacy of guests while upstairs you will find an inviting master suite, two additional bedrooms, a spacious bonus room and laundry. Linwood Farms offers community activities, playground and large swimming pool. All this in the Mooresville Graded School District!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Linwood Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Linwood Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Rocky River Elementary School Primary Regular 637 40 7
Mooresville Middle School Middle Regular 1,023 53 4
Mooresville High School High Regular 1,787 78 8

Rocky River Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 40
7
GreatSchools Rating

Mooresville Middle School

  • Education Level: Middle
  • # of students: 1,023
  • # of teachers: 53
4
GreatSchools Rating

Mooresville High School

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

$395,100$482,900$439,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,525
Property Tax -$409
Property Insurance -$89
HOA -$30
Property Management Fees -$119
CASH FLOW
-$152

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.

$439,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.4%
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-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,085

INVESTMENT

$122,085

Down Payment
$109,750
Rehab Estimate
$5,750
Closing Costs
$6,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,525

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $109,750
Loan Amount $329,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$14,364

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $2,162

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0203$2,1004$2,1755$2,200
$2,200
RENT COMPS ANALYSIS
  • 143 Heywatchis Drive Mooresville, NC 2
    • 4 beds 3 baths ∙ 3,301 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,301 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.61
    •  
  • 111 Rougemont Lane Mooresville, NC 1
    • 5 beds 5 baths ∙ 3,202 Sqft ∙ Built 2012 5 beds 5 baths ∙ 3,202 Sqft ∙ Built 2012
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.62
    •  
  • 106 E Americana Drive Mooresville, NC 3
    • 4 beds 3 baths ∙ 3,113 Sqft ∙ Built 2019 4 beds 3 baths ∙ 3,113 Sqft ∙ Built 2019
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.67
    •  
  • 184 Glastonbury Drive Mooresville, NC 4
    • 5 beds 3 baths ∙ 3,271 Sqft ∙ Built 2017 5 beds 3 baths ∙ 3,271 Sqft ∙ Built 2017
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.66
    •  
  • 134 Cole Drive Mooresville, NC 5
    • 5 beds 4 baths ∙ 3,458 Sqft ∙ Built 2012 5 beds 4 baths ∙ 3,458 Sqft ∙ Built 2012
    property image
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.64
    •  
PROPERTY LISTING DETAILS
Ginny Barker
1.704.657.8881
Keller Williams Mooresville
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3720588
Last Updated: 03/27/2021
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