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147 English Hills Drive Mooresville, NC 28115

3 Beds 3 Baths 1,827 sqft Built 2001

$270,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $147.78
  • 3 Days on Market
  • MLS # : 3701206
  • Updated Date : 02/05/2021 at 18:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,827 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allen Tate Matthews/mint Hill

Listing Agent's Description

Welcome to Mooresville! The covered front porch is both welcoming and functional. You will appreciate the well-balanced and open floor plan with upgrades throughout. Just off the foyer is the formal dining room. This area would make a great home office. The great room features a gas log fireplace and views of large backyard. The kitchen features new stainless steel appliances (2020), a pantry, and opens to the great room and the sunny breakfast area. Solid surface floors throughout the downstairs - hardwood and tile! The master bedroom suite is an owner’s retreat with garden tub, dual vanity sinks, step-in shower & walk-in closet. The secondary bedrooms are larger than most and the bonus room is spacious. The bonus room could easily be used for a 4th bedroom. The upstairs bedrooms, bonus room & hallway have laminate wood flooring. The large rear yard is fenced and an extension of the home ~ perfect for entertaining or for kids and pets to run and play. Two car garage and so much more!

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

Neighborhood: The Hampshires

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: The Hampshires

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Coddle Creek Elementary School Primary Regular 504 29 5
Brawley Middle School Middle Regular 746 41 7
Lake Norman High School High Regular 1,865 88 8

Coddle Creek Elementary School

  • Education Level: Primary
  • # of students: 504
  • # of teachers: 29
5
GreatSchools Rating

Brawley Middle School

  • Education Level: Middle
  • # of students: 746
  • # of teachers: 41
7
GreatSchools Rating

Lake Norman High School

  • Education Level: High
  • # of students: 1,865
  • # of teachers: 88
8
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$938
Property Tax -$112
Property Insurance -$62
HOA -$25
Property Management Fees -$119
CASH FLOW
$295

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.

$270,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
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$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

11.5

YEARS SAVED

$47,606

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,658

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,3953$1,4494$1,4955$1,550
$1,550
RENT COMPS ANALYSIS
  • 147 English Hills Drive Mooresville, NC 5
    • 3 beds 3 baths ∙ 1,827 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,827 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.85
    •  
  • 106 Newbury Drive Mooresville, NC 1
    • 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 2001
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.85
    •  
  • 129 Hampshire Drive Mooresville, NC 2
    • 3 beds 2 baths ∙ 1,573 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,573 Sqft ∙ Built 2002
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.89
    •  
  • 182 English Hills Drive Mooresville, NC 3
    • 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 2002
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.97
    •  
  • 137 Hampshire Drive Mooresville, NC 4
    • 4 beds 2 baths ∙ 1,625 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,625 Sqft ∙ Built 2002
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.92
    •  
PROPERTY LISTING DETAILS
Cindy Hope
1.704.506.4191
Allen Tate Matthews/mint Hill
BESbswy