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PROPERTY INFO
FACTS
- Single Family
- Built In 2018
- Price/Sqft : $161.06
- 3 Days on Market
- MLS # : 3717878
- Updated Date : 03/13/2021 at 12:55
CONSTRUCTION
- Beds : 4
- Floor Size : 2,142 sqft
- Baths : 3 full
Listing Agent
Northgroup Real Estate, Inc.
Listing Agent's Description
Welcome home! You will fall in love with this move-in ready 4bed/3bath home! Upgrades galore! From the light fixtures to the paint, to the woodwork, its all been upgraded and ready for you to simply move in! This open floor plan is sure to impress. Large kitchen w/granite countertops, under cabinet lighting, SS appliances, gas range, subway tile backsplash, new lighting fixtures and so much more that overlooks the living room and outside patio area w/fenced backyard. The 1st floor boasts an office area, a guest bedroom, a full bathroom, living room & open dining area w/plenty of room at the breakfast bar. The home features Luxury Vinyl Plank flooring, triple crown molding, a rear covered porch, gas fireplace, garden tub, tiled shower in the master bath and so much more! The master bedroom is upstairs and has beautiful ceilings and a large master bath, walk in closet & a linen closet. 2 other bedrooms are located upstairs & are an ample size with plenty of closet space. Will not last!
SEE MORE
- 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: 28115
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28115
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
Sorry, we do not have sufficient school data for this neighborhood.
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,620 |
| EXPENSES | Loan Payment | -$1,198 |
| Property Tax | -$321 | |
| Property Insurance | -$68 | |
| HOA | -$40 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$126
|
||
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.
$345,000
PROJECTED PRICE
$1,620
PROJECTED RENT
0.47%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 5.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| 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
$97,175
LOAN DETAILS
$1,198
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $86,250 |
| Loan Amount | $258,750 |
3.25
YEARS SAVED
$8,916
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,620
LIST RENT -
$0.76
LIST RENT PER SQFT
-
$1,585
COMP ESTIMATED VALUE -
$0.74
COMP AVG. RENT PER SQFT
Comps Range
-
143 Suggs Mill Drive Mooresville, NC 4
- 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 2018
![property image]()
- Rent
- Rent Per SQFT
- $1,620
- $0.76
-
103 Elgin Lane Mooresville, NC 1
- 3 beds 3 baths ∙ 1,974 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,974 Sqft ∙ Built 2001
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LEASED 05/01/20- Rent
- Rent Per SQFT
- $1,465
- $0.74
-
287 Mackwood Road Mooresville, NC 2
- 4 beds 2 baths ∙ 2,016 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,016 Sqft ∙ Built 2002
![property image]()
LEASED 09/13/19- Rent
- Rent Per SQFT
- $1,525
- $0.76
-
118 Holly Ridge Drive Mooresville, NC 3
- 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 2019
![property image]()
LEASED 02/18/20- Rent
- Rent Per SQFT
- $1,600
- $0.73
-
682 Highland Ridge Road Mooresville, NC 5
- 4 beds 3 baths ∙ 2,446 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,446 Sqft ∙ Built 1993
![property image]()
LEASED 01/07/20- Rent
- Rent Per SQFT
- $1,795
- $0.73
PROPERTY LISTING DETAILS
1.704.402.5627
Northgroup Real Estate, Inc.
MLS #: 3717878
Last Updated: 03/13/2021
