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150 Glynwater Drive Mooresville, NC 28117

3 Beds 3 Baths 2,090 sqft Built 1995

$292,500

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $139.95
  • 6 Days on Market
  • MLS # : 3687845
  • Updated Date : 12/04/2020 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,090 sqft
  • Baths : 2 full , 1 half
Listing Agent

Charity Realty

Listing Agent's Description

Gorgeous move in ready in home in Mooresville Graded School District--everything is done! Bright airy open floor plan with a wall of windows and beautiful shiplap wall. New vinyl plank flooring throughout the main level. Remodeled kitchen with new appliances, cabinets, quartz countertops, backsplash. Upgraded master bath with new vanity and shower. New Light fixtures throughout. New HVAC and air handler in 2017, many new windows, new water heater and garage door in 2018, new roof in 2014. All those upgrades and a large level fenced yard with deck, stone patio and firepit. Check out our virtual tour at: https://my.matterport.com/show/?m=31Egyi1Uq7a&mls=1

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Glynwater

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $74k288k

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

Neighborhood: Glynwater

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600Rent in $6771614

* 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
South Elementary School Primary Regular 559 34 6
Mooresville Intermediate School Middle Regular 745 42 5
Mooresville High School High Regular 1,787 78 8

South Elementary School

  • Education Level: Primary
  • # of students: 559
  • # of teachers: 34
6
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
 

$263,250$321,750$292,500

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,079
Property Tax -$272
Property Insurance -$67
HOA -$12
Property Management Fees -$119
CASH FLOW
-$28

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.

$292,500

PROJECTED PRICE

$1,520

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 3.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,263

INVESTMENT

$83,263

Down Payment
$73,125
Rehab Estimate
$5,750
Closing Costs
$4,388

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,079

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,125
Loan Amount $219,375
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$16,582

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,562

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5203$1,6504$1,6955$1,735
$1,735
RENT COMPS ANALYSIS
  • 150 Glynwater Drive Mooresville, NC 2
    • 3 beds 3 baths ∙ 2,090 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,090 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.73
    •  
  • 107 Rolling Stone Court Mooresville, NC 1
    • 4 beds 3 baths ∙ 2,192 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,192 Sqft ∙ Built 1997
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.66
    •  
  • 102 Easy Street Mooresville, NC 3
    • 4 beds 3 baths ∙ 2,176 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,176 Sqft ∙ Built 1997
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.76
    •  
  • 103 Meadow Pond Lane Mooresville, NC 4
    • 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1999
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.81
    •  
  • 111 Rolling Stone Court Mooresville, NC 5
    • 4 beds 3 baths ∙ 2,277 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,277 Sqft ∙ Built 1997
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,735
    • $0.76
    •  
PROPERTY LISTING DETAILS
Christopher Fortune
1.704.658.7079
Charity Realty
BESbswy