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PROPERTY INFO
FACTS
- Single Family
- Built In 2004
- Price/Sqft : $113.92
- 19 Days on Market
- MLS # : 3699379
- Updated Date : 02/06/2021 at 22:36
CONSTRUCTION
- Beds : 3
- Floor Size : 3,204 sqft
- Baths : 2 full , 1 half
Listing Agent
Nexthome World Class
Listing Agent's Description
One of the greatest things about this home is the 3 covered porch areas to enjoy. In this beautiful Charleston style home, you will find a large kitchen with plenty of cabinetry and counter space. There is a large island where friends and family can gather. There are additional areas that can be used for a home office or quant reading area. The foyer area has an open staircase that leads to a master bedroom with 2 large walk-in closets and a large bathroom. Upstairs you will also find 3 more bedrooms and a full bath with a laundry room conveniently located at the end of the hall. This well-designed floor plan allows for both privacy and entertaining. There is also a large detached 2 car garage with plenty of over the head storage. If you are in the market for a space that will create long-lasting memories for your family and friends, I feel like your search might be over. In today’s market this home will not be here long, so don't miss your chance to make this your "dream home".
SEE MORE
- 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: Water Oak at Lake Norman
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Water Oak at Lake Norman
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,140 |
| EXPENSES | Loan Payment | -$1,268 |
| Property Tax | -$349 | |
| Property Insurance | -$87 | |
| HOA | -$51 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$265
|
||
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.
$365,000
PROJECTED PRICE
$2,140
PROJECTED RENT
0.59%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 3.9% |
| 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
$102,475
LOAN DETAILS
$1,268
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $91,250 |
| Loan Amount | $273,750 |
9.33
YEARS SAVED
$46,673
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,140
LIST RENT -
$0.67
LIST RENT PER SQFT
-
$2,307
COMP ESTIMATED VALUE -
$0.72
COMP AVG. RENT PER SQFT
Comps Range
-
144 Water Oak Drive Mooresville, NC 1
- 3 beds 3 baths ∙ 3,204 Sqft ∙ Built 2004 3 beds 3 baths ∙ 3,204 Sqft ∙ Built 2004
- Rent
- Rent Per SQFT
- $2,140
- $0.67
-
103 Hayden Court Mooresville, NC 2
- 4 beds 3 baths ∙ 3,022 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,022 Sqft ∙ Built 1999
LEASED 11/03/20- Rent
- Rent Per SQFT
- $2,200
- $0.73
-
121 Coronilla Road Mooresville, NC 3
- 4 beds 3 baths ∙ 3,368 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,368 Sqft ∙ Built 1998
LEASED 06/16/20- Rent
- Rent Per SQFT
- $2,395
- $0.71
PROPERTY LISTING DETAILS
1.704.682.1847
Nexthome World Class
