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PROPERTY INFO
FACTS
- Single Family
- Built In 2021
- Price/Sqft : $137.41
- 3 Days on Market
- MLS # : 3686961
- Updated Date : 11/27/2020 at 15:14
CONSTRUCTION
- Beds : 4
- Floor Size : 2,420 sqft
- Baths : 2 full , 1 half
Listing Agent
Dr Horton Inc
Listing Agent's Description
The Meadows at Coddle Creek is a new community located on Hwy. 3 just south of Mooresville. The community has a pool, cabana, and bocce ball court for homeowners entertainment. All of which are completed. Walking trails coming soon. The Verwood home features a 2-car garage and an open floorplan that is perfect for entertaining featuring a great island. Additional features include 2-piece crown molding, wainscot molding in the foyer, granite counter tops in kitchen & bathrooms, garden tub in master bathroom, stainless steel appliances, tankless gas water heater, a smart home system and a large front porch. Smart Home system 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
- 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
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,840 |
| EXPENSES | Loan Payment | -$1,227 |
| Property Tax | -$308 | |
| Property Insurance | -$73 | |
| HOA | -$63 | |
| Property Management Fees | -$166 | |
|
CASH FLOW
$5
|
||
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.
$332,522
PROJECTED PRICE
$1,840
PROJECTED RENT
0.55%
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
$90,118
LOAN DETAILS
$1,227
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $83,131 |
| Loan Amount | $249,392 |
4.08
YEARS SAVED
$15,565
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,840
LIST RENT -
$0.76
LIST RENT PER SQFT
-
$1,863
COMP ESTIMATED VALUE -
$0.77
COMP AVG. RENT PER SQFT
Comps Range
-
146 Candlelight Way Mooresville, NC 4
- 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 2021
- Rent
- Rent Per SQFT
- $1,840
- $0.76
-
105 Royalton Road Mooresville, NC 1
- 4 beds 3 baths ∙ 2,342 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,342 Sqft ∙ Built 1999
LEASED 06/19/20- Rent
- Rent Per SQFT
- $1,750
- $0.75
-
103 Laporte Lane Mooresville, NC 2
- 4 beds 3 baths ∙ 2,286 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,286 Sqft ∙ Built 2002
LEASED 10/15/20- Rent
- Rent Per SQFT
- $1,795
- $0.79
-
132 Gilden Way Mooresville, NC 3
- 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2011
LEASED 10/15/20- Rent
- Rent Per SQFT
- $1,800
- $0.76
-
118 E Americana Drive Mooresville, NC 5
- 5 beds 4 baths ∙ 2,558 Sqft ∙ Built 2019 5 beds 4 baths ∙ 2,558 Sqft ∙ Built 2019
LEASED 12/10/19- Rent
- Rent Per SQFT
- $2,000
- $0.78
PROPERTY LISTING DETAILS
1.910.723.5373
Dr Horton Inc
