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PROPERTY INFO
FACTS
- Single Family
- Built In 2021
- Price/Sqft : $113.41
- 2 Days on Market
- MLS # : 3697179
- Updated Date : 01/09/2021 at 16:42
CONSTRUCTION
- Beds : 4
- Floor Size : 3,113 sqft
- Baths : 3 full
Listing Agent
Dr Horton Inc
Listing Agent's Description
The Meadows at Coddle Creek is a brand new community located on Hwy. 3 just south of Mooresville. The community has a pool, cabana, and bocce ball court for home owners entertainment. Walking trails coming soon. The Hampshire floorplan is an open plan that is perfect for entertaining. Additional features include revwood floors in the foyer & living area, 2 piece crown molding, wainscot molding in the foyer, granite counter tops in kitchen & bathrooms, ceramic tile shower in master bathroom, stainless steel appliances, tankless gas water heater & a CPI smart home system and a covered rear porch. Home Is Connected includes programmable thermostat, Z-Wave door lock and wireless switch, touchscreen control device, automation platform, video doorbell, and Amazon Echo and Echo Dot. All home features are subject to change without notice. Internet service not included.
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
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
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,880 |
| EXPENSES | Loan Payment | -$1,226 |
| Property Tax | -$327 | |
| Property Insurance | -$86 | |
| HOA | -$63 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$60
|
||
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.
$353,052
PROJECTED PRICE
$1,880
PROJECTED RENT
0.53%
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) | 3.00% |
| 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
$95,559
LOAN DETAILS
$1,226
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $88,263 |
| Loan Amount | $264,789 |
5.58
YEARS SAVED
$21,981
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,880
LIST RENT -
$0.6
LIST RENT PER SQFT
-
$1,868
COMP ESTIMATED VALUE -
$0.6
COMP AVG. RENT PER SQFT
Comps Range
-
145 Championship Drive Mooresville, NC 4
- 4 beds 3 baths ∙ 3,113 Sqft ∙ Built 2021 4 beds 3 baths ∙ 3,113 Sqft ∙ Built 2021
- Rent
- Rent Per SQFT
- $1,880
- $0.60
-
130 Rusty Nail Drive Mooresville, NC 1
- 4 beds 3 baths ∙ 2,964 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,964 Sqft ∙ Built 2006
LEASED 02/24/20- Rent
- Rent Per SQFT
- $1,795
- $0.61
-
146 Millen Drive Mooresville, NC 2
- 3 beds 3 baths ∙ 3,008 Sqft ∙ Built 2008 3 beds 3 baths ∙ 3,008 Sqft ∙ Built 2008
LEASED 04/09/20- Rent
- Rent Per SQFT
- $1,795
- $0.60
-
134 Ashton Drive Mooresville, NC 3
- 4 beds 3 baths ∙ 3,142 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,142 Sqft ∙ Built 2012
LEASED 04/27/20- Rent
- Rent Per SQFT
- $1,850
- $0.59
-
378 Almora Loop Mooresville, NC 5
- 4 beds 3 baths ∙ 3,151 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,151 Sqft ∙ Built 2007
LEASED 03/05/20- Rent
- Rent Per SQFT
- $1,899
- $0.60
PROPERTY LISTING DETAILS
1.910.723.5373
Dr Horton Inc
