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144 Woodlawn Drive Statesville, NC 28677

3 Beds 2 Baths 1,316 sqft Built 2020

$189,900

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
Built 2020 NEW CONSTRUCTION
January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $144.30
  • 7 Days on Market
  • MLS # : 3701565
  • Updated Date : 01/25/2021 at 09:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,316 sqft
  • Baths : 2 full
Listing Agent

Movement One Realty Llc

Listing Agent's Description

Beautiful new construction ranch in the heart of Statesville! Inviting open floor plan featuring recessed lighting, granite kitchen counters and stainless steel appliances. Neutral colors throughout. Ask about our closing cost incentive through our preferred lender.

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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: 28677

ZipNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200kPrice in $59k213k

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

Zip Code: 28677

ZipNIR Market*CityMarket2010Year20002019 Q270075080085090095010001050110011501200125013001350Rent in $6771375

* 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
N B Mills Elementary School Primary Regular 493 35 4
Statesville Middle School Middle Regular 454 34 1
Statesville High School High Regular 1,029 67 1

N B Mills Elementary School

  • Education Level: Primary
  • # of students: 493
  • # of teachers: 35
4
GreatSchools Rating

Statesville Middle School

  • Education Level: Middle
  • # of students: 454
  • # of teachers: 34
1
GreatSchools Rating

Statesville High School

  • Education Level: High
  • # of students: 1,029
  • # of teachers: 67
1
GreatSchools Rating
 

$170,910$208,890$189,900

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$660
Property Tax -$147
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$292

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$189,900

PROJECTED PRICE

$1,270

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 4.2%
Maintenance Year (1-5) 3.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,324

INVESTMENT

$52,324

Down Payment
$47,475
Rehab Estimate
$2,000
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

13.33

YEARS SAVED

$41,265

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,257

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$975
1$9752$1,2503$1,2704$1,3005$1,495
$1,495
RENT COMPS ANALYSIS
  • 144 Woodlawn Drive Statesville, NC 3
    • 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.97
    •  
  • 823 Bristol Drive Statesville, NC 1
    • 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1945 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1945
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $975
    • $0.89
    •  
  • 525 N Miller Avenue Statesville, NC 2
    • 3 beds 2 baths ∙ 1,209 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,209 Sqft ∙ Built 1964
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.03
    •  
  • 547 Colony Court Statesville, NC 4
    • 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 1964
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.83
    •  
  • 734 Ferndale Drive Statesville, NC 5
    • 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 2019
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.01
    •  
PROPERTY LISTING DETAILS
Mike Ignasiak
1.225.610.4326
Movement One Realty Llc
BESbswy