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147 Championship Drive #95 Mooresville, NC 28115

5 Beds 4 Baths 2,910 sqft Built 2021

$359,076

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $123.39
  • 2 Days on Market
  • MLS # : 3697176
  • Updated Date : 01/09/2021 at 16:26
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,910 sqft
  • Baths : 4 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 Summit 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 smart home system. 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

MARKET HIGHLIGHTS

  • 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

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $113k288k

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

Zip Code: 28115

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8421614

* 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
Rocky River Elementary School Primary Regular 637 40 7
Mooresville Intermediate School Middle Regular 745 42 5
Mooresville High School High Regular 1,787 78 8

Rocky River Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 40
7
GreatSchools Rating

Mooresville Intermediate School

  • Education Level: Middle
  • # of students: 745
  • # of teachers: 42
5
GreatSchools Rating

Mooresville High School

  • Education Level: High
  • # of students: 1,787
  • # of teachers: 78
8
GreatSchools Rating
 

$323,168$394,984$359,076

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,247
Property Tax -$332
Property Insurance -$82
HOA -$63
Property Management Fees -$119
CASH FLOW
$97

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.

$359,076

PROJECTED PRICE

$1,940

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$97,155

INVESTMENT

$97,155

Down Payment
$89,769
Rehab Estimate
$2,000
Closing Costs
$5,386

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,247

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,769
Loan Amount $269,307
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$25,839

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,877

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7953$1,8004$1,9405$1,995
$1,995
RENT COMPS ANALYSIS
  • 147 Championship Drive Mooresville, NC 4
    • 5 beds 4 baths ∙ 2,910 Sqft ∙ Built 2021 5 beds 4 baths ∙ 2,910 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.67
    •  
  • 104 Gilden Way Mooresville, NC 1
    • 4 beds 3 baths ∙ 2,631 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,631 Sqft ∙ Built 2006
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.63
    •  
  • 130 Rusty Nail Drive Mooresville, NC 2
    • 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
    •  
  • 131 Rusty Nail Drive Mooresville, NC 3
    • 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 2005
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.66
    •  
  • 104 Americana Drive E Mooresville, NC 5
    • 5 beds 4 baths ∙ 2,936 Sqft ∙ Built 5 beds 4 baths ∙ 2,936 Sqft ∙ Built
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.68
    •  
PROPERTY LISTING DETAILS
Thomas Dellinger
1.910.723.5373
Dr Horton Inc
BESbswy