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150 Tennyson Court Mooresville, NC 28115

4 Beds 3 Baths 2,190 sqft Built 1995

$299,900

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $136.94
  • 6 Days on Market
  • MLS # : 3677528
  • Updated Date : 11/02/2020 at 10:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,190 sqft
  • Baths : 2 full , 1 half
Listing Agent

Douglas Carson, Realtors

Listing Agent's Description

Beautifully, well-maintained home which offers 4 bedrooms, 2.5 baths AND a huge bonus/rec room in the desirable Allison Park neighborhood in Mooresville. This home has been updated inside and out. In the last four years the sellers have installed brand new dual multi-zone HVAC systems, updated the kitchen with new appliances, granite countertops and tile backsplash and in the last week the entire house has been freshly painted to make it truly turnkey. Don't miss the private, fenced-in backyard with custom patio and covered pergola, complete with salt water hot tub that the sellers are willing to leave behind with a strong offer. No aspect of this home has been overlooked, offering more features for your dollar than a new construction house. With easy access to shopping, dining and I-77 you will not want to miss out on this opportunity!

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: Allison Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $113k288k

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

Neighborhood: Allison Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8421614

* 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
East Mooresville Intermediate School Primary Regular 625 33 7
East Mooresville Intermediate School Middle Regular 625 33 7
Mooresville High School High Regular 1,787 78 8

East Mooresville Intermediate School

  • Education Level: Primary
  • # of students: 625
  • # of teachers: 33
7
GreatSchools Rating

East Mooresville Intermediate School

  • Education Level: Middle
  • # of students: 625
  • # of teachers: 33
7
GreatSchools Rating

Mooresville High School

  • Education Level: High
  • # of students: 1,787
  • # of teachers: 78
8
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,107
Property Tax -$279
Property Insurance -$68
HOA -$5
Property Management Fees -$140
CASH FLOW
-$39

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$299,900

PROJECTED PRICE

$1,560

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
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$900k

PROJECTED ANNUAL CASH FLOW

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

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$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$11,295

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,528

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,4504$1,4955$1,560
$1,560
RENT COMPS ANALYSIS
  • 150 Tennyson Court Mooresville, NC 5
    • 4 beds 3 baths ∙ 2,190 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,190 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.71
    •  
  • 1041 Emerson Drive Mooresville, NC 1
    • 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1995
    LEASED 08/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.73
    •  
  • 106 Ellington Drive Mooresville, NC 2
    • 3 beds 3 baths ∙ 2,076 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,076 Sqft ∙ Built 2006
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.70
    •  
  • 1061 Emerson Drive Mooresville, NC 3
    • 4 beds 2 baths ∙ 1,950 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,950 Sqft ∙ Built 1996
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.74
    •  
  • 275 Flanders Drive Mooresville, NC 4
    • 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2005
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.63
    •  
PROPERTY LISTING DETAILS
Andy Wiesner
1.920.527.0322
Douglas Carson, Realtors
BESbswy