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144 Slip Shot Lane #137 Troutman, NC 28166

4 Beds 3 Baths 2,705 sqft Built 2021

$356,729

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $131.88
  • 2 Days on Market
  • MLS # : 3703644
  • Updated Date : 01/30/2021 at 11:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,705 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lennar Sales Corp

Listing Agent's Description

New Construction ready soon June! Beautiful, modern kitchen with white cabinetry, granite counter tops and gas range stove. Spacious master with gorgeous bath, loft & large laundry room! The Durham is one of our most popular open floor plans! Furnished model of this plan on site so no need to wait to view. Home warranty included! Home automation package. Located in Troutman in the beautiful Lake Norman area with easy access to Mooresville, public boat launch and Lake Norman State Park. Other awesome homes available!

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

Zip Code: 28166

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $106k261k

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

Zip Code: 28166

ZipNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350Rent in $7581375

* 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.
 

$321,056$392,402$356,729

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$1,239
Property Tax -$283
Property Insurance -$78
HOA -$67
Property Management Fees -$119
CASH FLOW
$874

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$356,729

PROJECTED PRICE

$2,660

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 3.00%
Vacancy 6.57%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k

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$96,533

INVESTMENT

$96,533

Down Payment
$89,182
Rehab Estimate
$2,000
Closing Costs
$5,351

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$1,239

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,182
Loan Amount $267,547
See What Happens When You Reinvest Cash Flow

16

YEARS SAVED

$97,007

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,651

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,660
$2,660
RENT COMPS ANALYSIS
  • 144 Slip Shot Lane Troutman, NC 2
    • 4 beds 3 baths ∙ 2,705 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,705 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $0.98
    •  
  • 174 Falls Cove Drive Troutman, NC 1
    • 4 beds 3 baths ∙ 2,446 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,446 Sqft ∙ Built 2019
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.94
    •  
PROPERTY LISTING DETAILS
Evelyn Vargas
1.631.603.9390
Lennar Sales Corp
BESbswy