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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28117
* 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.
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$114,930
LOAN DETAILS
$1,431
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $103,000 |
| Loan Amount | $309,000 |
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
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149 Longleaf Drive Mooresville, NC 4
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- Rent Per SQFT
- $2,530
- $0.81
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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
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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
1.704.564.2967
Exp Realty Llc
