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149 Longleaf Drive Mooresville, NC 28117

4 Beds 3 Baths 3,119 sqft Built 2019

$412,000

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $132.09
  • 4 Days on Market
  • MLS # : 3698367
  • Updated Date : 01/21/2021 at 10:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,119 sqft
  • Baths : 3 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Beautiful, clean, and heavily upgraded home in a Lake Front Community. This stunning kitchen consist of stainless steel appliances with granite countertops, white cabinets, subway tile backsplash and an extra large island. Open kitchen-family room concept with hardwood floors and gas fireplace. Formal dining room w/coffered ceiling connects to a gorgeous Butler's pantry and breakfast bar. 1st floor guest suite, mud room w/built-in's! Wrought iron wrapped staircase opens to a generous sized loft. Owners suite is the epidemy of luxury with a sitting room and an oversized closet! Gorgeous master bath w/tile shower and semi-frameless shower enclosure. Tankless water heater, smart home tech, deluxe two-piece crown, wainscoting, cased windows, 5" baseboards and tray ceiling! Lake Norman access via community Canoe launch. Pool & clubhouse, 3+ miles of paved walking trails, playground, pocket parks, bocce ball court. Showings start Friday at 2pm.

SEE MORE

MARKET HIGHLIGHTS

  • 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: 28117

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $118k427k

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

Zip Code: 28117

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8441980

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$370,800$453,200$412,000

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$1,431
Property Tax -$402
Property Insurance -$86
HOA -$63
Property Management Fees -$119
CASH FLOW
$430

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.

$412,000

PROJECTED PRICE

$2,530

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.1%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$114,930

INVESTMENT

$114,930

Down Payment
$103,000
Rehab Estimate
$5,750
Closing Costs
$6,180

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,000
Loan Amount $309,000
See What Happens When You Reinvest Cash Flow

10.75

YEARS SAVED

$67,214

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,542

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4003$2,5004$2,5305$2,600
$2,600
RENT COMPS ANALYSIS
  • 149 Longleaf Drive Mooresville, NC 4
    • 4 beds 3 baths ∙ 3,119 Sqft ∙ Built 2019 4 beds 3 baths ∙ 3,119 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $0.81
    •  
  • 129 Tomahawk Drive Mooresville, NC 1
    • 5 beds 4 baths ∙ 3,005 Sqft ∙ Built 2018 5 beds 4 baths ∙ 3,005 Sqft ∙ Built 2018
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.77
    •  
  • 127 Cedar Woods Drive Mooresville, NC 2
    • 4 beds 4 baths ∙ 2,881 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,881 Sqft ∙ Built 2005
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.83
    •  
  • 384 Rankin Hill Road Troutman, NC 3
    • 3 beds 3 baths ∙ 3,260 Sqft ∙ Built 1992 3 beds 3 baths ∙ 3,260 Sqft ∙ Built 1992
    LEASED 11/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.77
    •  
  • 135 Gray Willow Street Mooresville, NC 5
    • 4 beds 3 baths ∙ 2,820 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,820 Sqft ∙ Built 2020
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.92
    •  
PROPERTY LISTING DETAILS
Steven Custer
1.704.564.2967
Exp Realty Llc
BESbswy