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PROPERTY INFO
FACTS
- Single Family
- Built In 2005
- Price/Sqft : $171.10
- 2 Days on Market
- MLS # : 3699097
- Updated Date : 01/16/2021 at 15:20
CONSTRUCTION
- Beds : 4
- Floor Size : 2,484 sqft
- Baths : 2 full , 2 half
Listing Agent
Mooresville Realty Llc
Listing Agent's Description
Beautiful Full Brick home in desirable and convenient Foxfield Subdivision. Excellent home for entertaining and hosting parties! Features include: Finished Basement, Lots of Storage, Saltwater Pool, Fenced Yard, Flat Driveway. Hardwood floors on Main level, Spacious Kitchen with Corian Countertops, Large Island w/storage, Stainless Steel Appliances, Pantry, Built-in desk. Generous Family Room with gas fireplace. 3rd level includes Large Master w/ Tray Ceiling, Jacuzzi Tub, separate shower and Walk-In Closet. The basement features a large rec room with walk out to pool, walk-in storage and utility room. Fenced backyard with nice landscaping, patio and deck surrounding the saltwater pool. 2-car side load garage located in basement. Located in Mooresville Graded School District.
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
Neighborhood: Foxfield
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Foxfield
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,170 |
| EXPENSES | Loan Payment | -$1,476 |
| Property Tax | -$396 | |
| Property Insurance | -$74 | |
| HOA | -$20 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$85
|
||
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.
$425,000
PROJECTED PRICE
$2,170
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 3.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| 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
$118,375
LOAN DETAILS
$1,476
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $106,250 |
| Loan Amount | $318,750 |
6.58
YEARS SAVED
$33,153
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,170
LIST RENT -
$0.87
LIST RENT PER SQFT
-
$1,820
COMP ESTIMATED VALUE -
$0.73
COMP AVG. RENT PER SQFT
Comps Range
-
147 Foxfield Park Drive Mooresville, NC 5
- 4 beds 4 baths ∙ 2,484 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,484 Sqft ∙ Built 2005
- Rent
- Rent Per SQFT
- $2,170
- $0.87
-
130 Colville Road Mooresville, NC 1
- 3 beds 3 baths ∙ 2,388 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,388 Sqft ∙ Built 2008
LEASED 01/27/20- Rent
- Rent Per SQFT
- $1,675
- $0.70
-
115 Colville Road Mooresville, NC 2
- 3 beds 3 baths ∙ 2,384 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,384 Sqft ∙ Built 2007
LEASED 03/03/20- Rent
- Rent Per SQFT
- $1,750
- $0.73
-
108 Farmers Folly Drive Mooresville, NC 3
- 3 beds 3 baths ∙ 2,331 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,331 Sqft ∙ Built 2008
LEASED 07/18/20- Rent
- Rent Per SQFT
- $1,810
- $0.78
-
135 Tetcott Street Mooresville, NC 4
- 4 beds 3 baths ∙ 2,698 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,698 Sqft ∙ Built 2018
LEASED 04/02/20- Rent
- Rent Per SQFT
- $1,945
- $0.72
PROPERTY LISTING DETAILS
1.704.965.7355
Mooresville Realty Llc
